Meatly, a pioneering company in the cultivated meat industry, has achieved a significant milestone by securing regulatory approval in the UK to sell its cultivated meat products. This approval is a major step forward for the company and the industry, marking the first time cultivated meat has been approved for sale in Europe.
Founded in 2022, Meatly has quickly positioned itself as a leader in the cultivated meat sector. The company focuses on creating sustainable and ethical meat alternatives using advanced biotechnology. To date, Meatly has raised £3.6 million in funding, significantly lower than many of its global counterparts, highlighting its efficient and cost-effective approach to scaling its operations.
Meatly is currently in the process of closing its Series A funding round, expected to be completed by the summer of 2024. Unlike other companies that have raised large sums, Meatly aims for a modest raise to continue its R&D efforts and minimize production costs. This strategy aligns with its goal of demonstrating a low-capex, fast route to commercializing profitable cultivated meat.
Looking ahead, Meatly plans to expand its market presence initially in the UK, followed by potential markets in North America and the EU, depending on regulatory environments. The company's partnerships, such as with Pets at Home, play a crucial role in its expansion strategy.
Meatly's first product to hit the market will be a hybrid pet food combining cultivated meat and plant-based ingredients. This approach helps tackle scale-up challenges and reduce costs. The initial product, a cultivated chicken dog food, will be launched in partnership with a leading UK dog food brand. The cost of this product is anticipated to be around £1 per 150g can.
To further reduce costs, Meatly has developed a protein-free culture medium costing less than £1 per liter. This innovation is expected to significantly lower production costs and make large-scale production feasible.
“Today marks a significant milestone for the European cultivated meat industry. I’m incredibly proud that Meatly is the first company in Europe to get the green light to sell cultivated meat. We are proving that there is a safe and low-capital way to bring cultivated meat to market rapidly.“We’re delighted to have worked proactively alongside the UK’s regulators to showcase that Meatly chicken is safe and healthy for pets.” Owen Ensor, Meatly CEO
UK Policy on Alternative Proteins
The UK has been following the EU's novel food regulations, which have traditionally slowed down the approval process due to the complexity of coordinating between member states. However, the UK's Food Standards Agency (FSA) is working to overhaul this process to gain a competitive edge. The approval of Meatly's products marks a significant shift towards a more streamlined regulatory environment in the UK.
The UK government, particularly under the new Labour administration, faces the challenge of balancing initial costs with the long-term benefits of supporting alternative proteins. The FSA has expressed its support for innovations in the animal feed sector, emphasizing the importance of safety and compliance.
A study conducted with UK farmers indicated a cautious yet optimistic stance towards cultivated meat. Farmers acknowledge the potential benefits for food security and sustainability but are concerned about market readiness and economic impacts. The UK government is actively investing in research and infrastructure to support the alternative protein sector as part of its broader strategy for food system transformation.
“The UK is a world leader in developing cultivated meat and the approval of a cultivated pet food is an important milestone. It underscores the potential for new innovation to help reduce the negative impacts of intensive animal agriculture,” Linus Pardoe, Good Food Institute (GFI) Europe.
Global Context and Future Outlook
Meatly's approval in the UK is part of a broader trend of regulatory advancements for cultivated meat globally. In 2024, Israel and Australia also approved cultivated meat products, with several other countries, including Singapore and the US, leading the way in regulatory frameworks.
Meatly's success in obtaining regulatory approval sets a precedent for other companies and highlights the UK's commitment to fostering innovation in sustainable food production. With continued investment and support, cultivated meat could play a significant role in addressing global food security and sustainability challenges.
Meatly's regulatory approval in the UK is a landmark achievement for the cultivated meat industry. The company's strategic focus on cost reduction, efficient scaling, and collaborative partnerships positions it well for future growth. As the UK continues to refine its regulatory framework, Meatly and similar companies are poised to drive significant advancements in sustainable food production.
Comments