CULT Food Science Corp announced that it has been included in the VegTech Plant-Based Innovation and Climate Exchange-Traded Fund (ETF) listed on the New York Stock Exchange under the ticker symbol EATV.
CULT said that the inclusion in the actively managed VegTech ETF is a significant milestone as it broadens the company’s investor base in the US.
The strategic investment company is a rare Canadian constituent of the VegTech ETF that currently consists of approximately 40 holdings, which are primarily firms based in the US including Beyond Meat, Amyris, and Celsius Holdings (NASDAQ:CELH).
“Having CULT Food Science included in the EATV ETF is enormous validation of our mission to help usher in cell-based foods as the future of food globally,” said Lejjy Gafour, President of CULT.
He added: “We have been long outspoken about the positive environmental and ethical impacts that cultivated meat, cultured dairy, and cell-based foods can have on our world, and being included in the ETC is proof that the cultural awareness around this topic is growing.”
READ: CULT Food Science gains cellular agriculture patents, machine learning data and bioprocess prototyping toolkits
Gafour noted that the recent movement around social investing and deploying capital to drive environmental change provides an enormous tailwind for CULT as a public company.
EATV is the only pure-play ETF focused on investing in companies with food-based innovations and technologies to make animal-free primary products utilizing plants or plant-derived products.
To qualify for inclusion in the VegTech ETF, companies must be working towards a more efficient, climate-friendly, and sustainable food and materials supply system. Specifically, the four main categories in which EATV invests are— cultivated meat and precision fermentation; plant-based food and beverages; agriculture technology and science; and, plant-based material.
“VegTech Plant-based Innovation and Climate ETF is defining and leading a new investment sector, VegTech: companies that are innovating with plants and plant-derived ingredients to create animal-free products for sustainable consumption,” said Sasha Goodman, fund manager of VegTech.
Goodman noted that cultivated meat relies on plant-based derivatives like sugar to fuel and grow animal cells outside of animals for animal-free meat. By creating meat without animals, and thereby mitigating methane emissions, cultivated meat is an important part of the solution to climate change for our planet, aligning 100% with the company’s fund values.
The VegTech ETF primarily invests in small-cap companies, which comprise more than 50% of its current holdings. EATV’s mission is to provide a low-cost and tax-efficient option for investing in innovators of sustainable, plant-based solutions.
Contact Ritika at ritika@proactiveinvestors.com