CULT Food Science Corp announced that its portfolio company MeliBio Inc was included by TIME magazine in the 2021 edition of its annual “Top 100 Inventions of The Year” issue.
MeliBio has developed a scientific approach to replacing honeybees as a medium of honey production. The Vancouver-based company’s subsidiary is offering solutions to help solve sustainability and supply chain-related challenges being faced by the global honey industry.
The plant biology company recently made history earlier this year by being the first to produce “bee-free” honey in a full-scale production run and has been recognized globally for its scientific innovation.
“The prestigious recognition of MeliBio honey made without bees by TIME is a great signal that bees and honey are getting high up in the sustainability agendas,” stated Darko Mandich, CEO of MeliBio. “Now all the restaurants and companies formulating with sweeteners have an option for a delicious, nutritious, and sustainable ingredient that directly helps in saving bee biodiversity.”
MeliBio has scaled its method of making honey without bees to a manufacturing level, showcasing the ability to satisfy the needs of multiple clients for non-animal honey. The company is currently taking orders from existing and new food service and wholesale customers for deliveries scheduled to occur at the end of 2021 and the beginning of 2022.
The honey industry was valued at over US$7 billion in 2019 and is expected to exceed US$11 billion in value by 2027.
CULT completed a strategic investment into MeliBio as part of the company’s global vision to democratize access to the future of foods, as well as support the urgent need for more compassionate and sustainable methods of agriculture.
“Having CULT’s Portfolio Company, MeliBio, be recognized by TIME for their breakthrough science is incredible validation for them and for the future of foods being made without the need to harm animals,” said James Spagnuolo, VP of Portfolio Advancement of CULT. “We believe that cell-based foods have the capacity to change the world in a variety of ways and this type of recognition goes a long way towards shifting the perception of cell-based foods globally.”
CULT Food is an innovative investment platform with an exclusive focus on clean, lab-grown food that is advancing the development of novel technologies to provide a sustainable, environmental, and ethical solution to the global factory farming crisis.
Contact Ritika at [email protected]
Story by ProactiveInvestors
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