ADM forms joint venture for microbial-based proteins

ADM signed an agreement with Asia Sustainable Foods Platform to partner on the technology development and precision fermentation of microbial-based alternative proteins in Singapore and the wider Asia-Pacific region.

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(ADM)
(ADM)

ADM signed an agreement with Asia Sustainable Foods Platform to partner on the technology development and precision fermentation of microbial-based alternative proteins in Singapore and the wider Asia-Pacific region.

“We’ve talked to innovators, from startups to mature food providers, in Singapore and across APAC, and they have told us that they are eager and waiting for a partner that can provide support for food-grade precision fermentation technology,” said Joe Taets, president of ADM’s APAC business. 

“This first-of-its-kind joint venture in Singapore would meet that demand, and in doing so, will help further the development of the alternative protein industry in APAC.”

The Asia Sustainable Foods Platform, a company wholly owned by Temasek, is dedicated to accelerating and scaling up the production of alternative proteins and sustainable foods in Asia.

Microbial-based proteins, also known as mycoproteins, are derived from the dried cells of yeasts, microalgae and fungi that are grown in a large-scale culture system. These alternative proteins can be used to create meat and dairy and as an additive to other food and beverages.

Providing support for microbial-based protein support

The joint venture would support startups and mature businesses focused on the production of microbial-based proteins with food-grade fermentation, downstream processing, lab services and consulting. 

“We’re proud to advance a proposed partnership with Temasek’s Asia Sustainable Foods Platform and the Singapore Economic Development Board to bring our unparalleled precision fermentation expertise to companies across APAC who are meeting the growing demand for alternative proteins,” said ADM Chairman and CEO Juan Luciano. 

“ADM is a leader in microbial solutions, and from our recent investment in Acies Bio to our work with partners like Nature’s Fynd, Air Protein, and now Temasek, we’re finding new ways to power growth and offer exciting, innovative solutions to serve the nutritional needs of the world’s growing population.”

The Singapore Economic Development Board will provide support for the joint venture.

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