USA: test tube meat manufacturer closed

According to online publication Green Queen, SciFi Foods has decided to appoint a consulting firm to sell its assets as cultured MEAT continues to face difficulties in the investment market. This comes shortly after the successful completion of the first commercial production run in a 500 liter bioreactor. The company has also worked with the FDA to complete all necessary regulatory approval processes in the United States .

it is important to note that SciFi Foods has achieved price parity with conventional beef through the use of cell and genetic engineering. Their hybrid burger, composed of 90/10 soy protein and cultured beef, has been recognized as an innovative product in the market. However, despite its technological achievements, the startup was unable to overcome financial difficulties and was forced to sell its assets.

This development comes amid a general crisis in the cultured meat industry. Investment in companies in this industry fell 75% from 2022 to 2023, according to the Good Food Institute (GFI). In 2024 , investors continue to show distrust in such projects, creating additional challenges for startups looking to change the landscape of the food industry.

This case reminds us of the importance not only of technological progress, but also of a sustainable financial strategy and attracting investor support for the successful development of food innovation projects. It is important to consider not only technical aspects, but also the economic sustainability of business in this area.