GOOD Meat, a cultivated meat company, secured $200 million in Doha-led funding

Good Meat, the cultivated meat division of food technology company Eat Just, secured $200 million in funding led by the Qatar Investment Authority (QIA), a sovereign wealth fund based in Doha. The funds are intended to accelerate production to meet the increasing demand for meat alternatives and expand into expanding markets.

Speaking at the Qatar Economic Forum (QEF) in Lusail, Josh Tetrick, the CEO of food technology company GOOD Meat, emphasized the significance of addressing the food sector's environmental impact alongside transitioning to renewable and low-carbon infrastructure. Tetrick stressed the importance of meat cultivation in countries with high meat imports, citing Qatar as an example. He called for the development of the necessary infrastructure to support this industry. He highlighted the staggering number of animals slaughtered daily for human consumption and the vast amount of land dedicated to growing crops for animal feed, further emphasizing the need for alternative solutions.

GOOD Meat, established in 2011, is a rapidly growing egg brand in the United States. It produces meat products from animal cells rather than traditional livestock farming methods.

Tetrick's company employs a team of scientists who follow a meat cultivation process, involving the extraction of animal cells, their nourishment, and growth in vessels until raw chicken or meat is obtained. Tetrick says this approach is safer and healthier but also more sustainable than conventional meat production methods.

Tetrick explained that his driving principle is to avoid harm when unnecessary, addressing both environmental and ethical concerns associated with traditional livestock farming. He mentioned that food security was a primary motivator, citing Singapore as his first investor. Singapore granted approval in 2020 for lab-grown chicken meat, a groundbreaking achievement in regulatory approval for cultured meat.

Tetrick emphasized that cultivated meat, such as chicken, tastes like traditional meat. This is because it is, in fact, real meat produced by a different method. Regarding health concerns, Tetrick assured us that the risks associated with cultivated meat are similar to those of conventionally produced meat. However, he expressed the company's ambition to develop meat products that are even healthier from a cholesterol and saturated fat perspective in the future.