Bill Gates & Synthetic Meat: Meatable Raises $47M

Bill Gates Advocates for Synthetic Meat to Reduce Emissions

During a recent discussion centered around Bill Gates’ book, “How to Avoid a Climate Disaster”, the Microsoft co-founder and Breakthrough Energy investor – also recognized as the world’s third wealthiest individual – proposed that citizens in affluent nations adopt diets based entirely on what he terms synthetic meat. This dietary shift is intended as a strategy to mitigate greenhouse gas emissions.

Growing Interest in Lab-Grown Meat

Gates’ proposition is gaining traction, with both startups and established companies emerging across various global locations, including Amsterdam, Tel Aviv, London, Los Angeles, Berkeley, and Chicago.

Currently, two of the most well-funded companies within the cultivated meat sector are based in The Netherlands. Mosa Meat faces competition from Meatable, a newer company that recently secured $47 million in funding.

Meatable anticipates receiving regulatory approval for its initial product in Europe by 2023, with plans for commercial sales to follow in 2025.

Challenges and Economic Considerations

Despite the progress, Meatable acknowledges significant hurdles. As Gates pointed out in an interview with MIT Technology Review, the economic viability of cellular agriculture remains uncertain. He questioned whether companies like Memphis Meats could achieve cost-effectiveness.

Beyond economic factors, consumer acceptance presents another challenge. Companies such as Just Foods, based in San Francisco, and Supermeat, from Tel Aviv, are already offering cultured chicken patties and nuggets in select restaurants.

Focus on Whole Muscle Tissue

However, Daan Luining, Meatable’s chief technology officer, believes these products don’t fully leverage the potential of cellular technology. “We’ve observed the availability of nuggets and chicken burgers, but our focus is on developing whole muscle tissue,” Luining explained.

The substantial number of companies entering this field – and the significant capital they’ve attracted – suggests the possibility of multiple successful ventures, provided they can balance cost-effectiveness with the delivery of high-quality alternatives to traditionally farmed meat.

Environmental Impact and Species Prioritization

Meatable’s core mission is to become a leading global provider of sustainable proteins. Luining stated, “Pork and beef, along with commonly consumed cuts, have a considerable impact on both the environment and land management.”

The technology employed by Meatable allows for application across various species. The company is initially concentrating on animals with the most significant contribution to climate change and planetary health.

Current Production Costs and Future Plans

Currently, Meatable’s production cost is approximately $10,000 per pound. However, the company differentiates itself by producing whole meat, including fat and connective tissue – elements crucial to the texture and flavor of meat.

With a team of 35 employees and recent funding, Meatable is transitioning from research and development to full-scale food production. Strategic partnerships, such as with DSM, a major European food biotech company, are expected to facilitate this transition.

Key Investors and Future Products

Support also comes from angel investors including Dr. Jeffrey Leiden, executive chairman of Vertex Pharmaceuticals; and Dr. Rick Klausner, former executive director of the Bill and Melinda Gates Foundation and founder of Juno Therapeutics, GRAIL, and Mindstrong Health, following his tenure at Illumina as chief medical officer.

Recent investment rounds included participation from Section 32, Bill Maris’ new fund, as well as existing investors like BlueYard Capital, Agronomics, Humboldt, and Taavet Hinrikus.

Meatable’s initial commercial product is likely to be a lab-grown pork offering. However, with expanded facilities near a leading Dutch university in Delft, a beef product is also under consideration.

Dr. Klausner emphasized, “[Meatable has] a strong team and groundbreaking technology capable of addressing global food insecurity challenges. They possess all the necessary components to become the preferred choice for sustainably and efficiently produced meat.”

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