China’s first cultivated and seafood startup, Avant Meats, is set to expand its manufacturing capacity from 250 to 2000 L bioreactors at its pilot plant in Singapore by 2025, CEO and co-founder Carrie Chan said in an interview with the South China Morning Post.
Chan, who expressed confidence in Avant Meats’ end-to-end platform for cultivated fish products, said the company aims to raise new capital for its ambitious expansion plans later this year.
Already running the first pilot scale batches in 50 and 250 L, Avant has obtained many kilograms of cultivated fish per batch to create prototypes (fish maw and fillet) and send samples to potential customers. The data gathered from these pilot runs will serve as valuable information for the company’s larger-scale plans, explained Chan.
Additionally, as reported by the South China Morning Post, last November, the company organized a tasting event at a restaurant in Singapore featuring Chinese-style dishes made with cultivated fish that received positive feedback from consumers.
An end-to-end platform
Headquartered in Hong Kong and founded in 2018, Avant Meats aims to offer a sustainable solution for producing seafood without harming the oceans.
According to the Chinese startup, the current fishing practices are depleting the oceans at an alarming rate, with nearly 90% of marine fish stocks fully exploited, overexploited, or depleted. Despite this, the demand for fish continues to rise, with projected consumption to increase by 18% by 2030.
In 2020, the startup raised $ 3.1 million in a seed round to fuel R&D and develop its end-to-end platform for cultivated seafood. Later, in 2022, the startup raised $10.8 million in a round led by S2G Ventures, the direct investment team of Builders Vision, to support the construction of its pilot plant in Singapore.
Avant Meat also forged a strategic partnership with QuaCell, a leading biopharmaceutical company in China, to optimize its serum-free media formula in QuaCell’s food-grade facilities. Avant Meat claims to have successfully slashed production costs by over 90% using a cell culture medium free of animal components.
Fish proteins for other uses
In addition to cultivated fish products, Avant Meat develops fish-derived proteins for skincare and functional applications. It has introduced Zellulin, a cell-based functional protein designed explicitly for the cosmeceutical market, claiming it to be the first of its kind worldwide.
The product is said to feature a unique blend of marine protein peptides that deliver superior anti-oxidative, regenerative, and skin-repairing properties for a variety of skincare formulations, as well as beverages and dietary supplements.
