BlueNalu Signs MOUs with Mitsubishi Corporation and Thai Union28 Apr 2021 22:53
BlueNalu Signs MOUs with Mitsubishi Corporation and Thai Union to Accelerate Market Development Strategy for Cell-Cultured Seafood in Asia
New collaborations position BlueNalu for significant growth in Asia
April 28, 2021 β San Diego, Calif. BlueNalu, a leading innovative food company developing a variety of seafood products directly from fish cells, announced today the signing of Memorandums of Understanding (MOU) with two leading seafood providers in Asia β Thai Union, a global seafood producer with branded products sold worldwide and a dedication to sustainability and innovation, headquartered in Thailand, and Mitsubishi Corporation, a globally integrated business enterprise, headquartered in Japan, with a network of around 1,700 group companies across 90 countries. Both agreements are designed to assess market development strategies for BlueNaluβs cell-cultured seafood specifically in Asia where there is high demand for quality seafood and the potential for diminishing supply to feed its population during the coming years.
The collaborations represent a mutual interest in the commercialization of cell-cultured seafood in Asia and a commitment to sustainable seafood solutions in order to meet rising demand. Global seafood consumption is at an all-time high and continues to increase, particularly in Asia, outpacing the growth in population. Current seafood production from wild-caught and farm-raised sources cannot keep pace with demand according to the United Nations, which projects a supply chain gap representing 28 million metric tons of new seafood production will be needed by 2030, and cell-cultured seafood is seen as a third solution that can help meet that demand.
https://www.bluenalu.com/bluenalu-signs-mous-with-mitsubishi-corporation-thai-union