CULT Food Science Corp (CSE:CULT, OTCQB:CULTF) said it has entered into a partnership with Umami Meats to supply cultivated red snapper for their newly launched pet food brands.
Under the collaboration, CULT Food Science will include cell-cultivated fish in its cat treat brand, Marina Cat, making it one of the first cell-cultivated fish pet products on the market.
Cell-cultivated fish ingredients are produced by taking a sample from a fish and then growing and scaling the cells in large bioreactors, avoiding high-impact ocean harvesting, the company said.
“Being able to replace ocean harvested fish with cell-based sources is a strong solution to relieving the destructive pressures on our aquatic ecosystem. At the same time, it also will let us provide healthier alternatives for our pets," said Lejjy Gafour, CEO of CULT in a statement.
READ: CULT Food Science unveils expansion of its pet food division through launch of three new consumer brands
Umami Meats, which is pioneering "not caught" seafood, is a venture-backed company based in Singapore with investors including CULT Food Science, Plug and Play, Better Bite Ventures, and Katapult Ocean.
CULT also announced that its board has approved settling debt of $30,000 by issuing shares. The company will issue 333,333 shares at $0.09 each to its CEO Lejjy Gafour.
CULT Food Science is the first publicly traded company of its kind in North America, pioneering the investment, development, and commercialization of cellular agriculture technologies and products.
Contact the author at jon.hopkins@proactiveinvestors.com