NEOM has signed a Memorandum of Understanding (MoU) with cell-cultured seafood developer BlueNalu. The partnership seeks to advance the commercialization, marketing, and distribution of BlueNalu’s cell-cultured seafood offerings, aligning with their shared objectives of enhancing food security and promoting access to nutritious food options for global communities.
The formation of this partnership comes on the heels of NEOM’s investment of $20 million into BlueNalu as part of a Series B funding round last month aimed at scaling the production of the company’s cultivated toro.
Alternative seafood is a rising global trend, with companies in both the plant-based and cultured seafood sectors observing growth in the past year. The alternative seafood market has great potential to meet the increasing global seafood demand while significantly reducing the environmental footprint associated with protein production.
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