If you’ve been holding your breath waiting for cultured, i.e., “petri-dish” meat, well, it’s time to turn purple:
For nearly a decade, it was regarded as one of the most promising companies in its field. Investors poured in, public attention followed, and hopes grew that it could help revolutionize how meat is produced. But last week it emerged, largely under the radar, that Believer Meats, formerly known as Future Meat, had abruptly halted operations. …
Industry sources say a series of management decisions left the company with no alternative but to lay off its roughly 100 employees in the United States and Israel and suspend operations entirely. The collapse has prompted a broader question within foodtech circles: if one of the sector’s most advanced companies cannot survive, what does that mean for the future of cultured meat? [Calcalist]
I always had trouble understanding how they were going to scale up the initial development work. Maybe they did, too.
