CULT Food Science Corp (CSE:CULT, OTCQB:CULTF) has applauded the US Presidential Executive Order on Advancing Biotechnology and Biomanufacturing Innovation for Sustainable, Safe, and Secure American Bioeconomy, which was published on September 12, 2022.
The executive order details many responsibilities that must be upheld by the Government of the United States to improve biotechnology and create a safe, sustainable and secure food economy.
“The Executive Order increases the momentum of much-needed change. We at CULT are comforted in seeing that the US Government has the same concerns about our food system and for change as us,” said Lejjy Gafour, CEO of CULT in a statement.
“If we all do our part, including integrating cellular agriculture into the mainstream food supply chain, then we can make our world more sustainable,” he added.
As per the executive order, the US Secretary of Agriculture, in consultation with the heads of appropriate agencies, willl submit a report assessing how to use biotechnology and biomanufacturing for food and agriculture innovation, including by:
- Improving sustainability and land conservation;
- Increasing food quality and nutrition;
- Increasing and protecting agricultural yields;
- Protecting against plant and animal pests and diseases; and
- Cultivating alternative food sources.
In 2020, an estimated 1 in 8 Americans were found to experience food insecurity, equating to over 38 million Americans, including almost 12 million children, CULT noted.
Therefore, the company said, it is now more critical than ever to enact orders and pass laws that provides citizens with a more sustainable and secure food system. Food insecurity is a worldwide problem in need of a large-scale solution.
CULT said its team believes that cellular agriculture is key to that solution and that the executive order is a step in the right direction.
To date, CULT has invested in multiple US-based cellular agriculture companies including, but not limited to:
- California Cultured, a biotech company focused on producing cell-based chocolate, based in California;
- Pearlita Foods, a biotech company focused on cultivating alternative oysters, based in North Carolina;
- Novel Farms Inc., a biotech company dedicated to creating alternative meats, based in California;
- Jellatech, a biotech company focused on developing animal-free gelatin and collagen, base in North Carolina;
- MeliBio, a biotech company that aims to create honey without bees, based in California; and
- Compound Foods, a biotech company creating coffee, based in California.
CULT Food Science is an innovative investment platform with an exclusive focus on cellular agriculture that is advancing the development of novel technologies to provide a sustainable, environmental, and ethical solution to the global factory farming crisis.
The first-of-its-kind in North America, CULT Food Science aims to provide individual investors with unprecedented exposure to the most innovative start-up, private or early-stage cultivated meat, cell-based dairy and other cultured food companies around the world.
Contact the author at jon.hopkins@proactiveinvestors.com