State-owned global investor Temasek yesterday launched a new company to drive the adoption of sustainable food and build an ecosystem for food tech across Asia.
The firm, called the Asia Sustainable Foods Platform, and the Government's Agency for Science, Technology and Research (A*Star) will invest more than $30 million over the next three years in a Food Tech Innovation Centre.
The platform is also exploring joint ventures with Germany's Cremer and United States-headquartered ADM, both global industry experts in plant-based and microbial proteins.
The announcement comes at the start of the inaugural Singapore International Agri-Food Week, organised by Temasek in partnership with government agencies.
In a keynote speech yesterday, Deputy Prime Minister Heng Swee Keat noted Temasek has invested more than US$8 billion (S$10.8 billion) in agri-food over the past decade, and Singapore has concentrated on research and development and food science capabilities.
He then outlined ways in which advancing food innovation can achieve more efficient production, reduce waste and cut the carbon footprint.
"Meat is a major contributor of food-related carbon emissions," he said. "Alternative protein is much more sustainable compared to traditional cattle and poultry farming."
Addressing the challenges behind scaling up production in alternative proteins is one focus of the Asia Sustainable Foods Platform, said Temasek's deputy head of enterprise development Yeoh Keat Chuan in a media briefing.
Industry veteran Mathys Boeren, with more than 25 years of experience in companies like Unilever and Symrise, has been appointed chief executive of the platform.
Mr Yeoh added: "This new platform aims to provide solutions and support for food tech companies as they go through product development to commercial scale-up."
For promising start-ups, it aims to play the roles of "enabler", by providing R&D advice and pilot-scale facilities; "operator", by furnishing manufacturing capabilities and market insights; and "investor", by providing networks and capital.
The upcoming Food Tech Innovation Centre, which is expected to be completed by the fourth quarter of next year, will support the process by granting access to a food-grade pilot-scale facility with equipment, space and A*Star's know-how.
The centre will host within its premises the global R&D and innovation centre of its first partner Next Gen Foods, a company that makes plant-based meat.
The next step is access to manufacturing capacity - and that is where the partnerships with ADM and Cremer come in, said Mr Yeoh.
Cremer will add to the Asia Sustainable Foods Platform's manufacturing capabilities for plant-based protein products, which rely on high moisture extrusion technology to produce texturised proteins that closely resemble meat.
The platform has also signed an agreement with ADM, with support from the Economic Development Board. This partnership hopes to similarly enable contract development and manufacturing services, but this time for microbial proteins produced by precision fermentation.
Mr Anuj Maheshwari, managing director of investment for agri-food at Temasek, noted that the food expenditure of Asian consumers is expected to double to US$8 trillion by 2030.
"Alternative protein is going to be in big demand. What the Asia Sustainable Foods Platform will do is allow food tech companies to unravel the opportunity in Asia in a much faster way," he said.
