In response to a press launch from Shiok Meats, the MOU will facilitate cooperation between Minh Phu Seafood and Shiok as they perform analysis and improvement (R&D) within the manufacturing of sustainable seafood. The MOU additionally pronounces the institution of a joint R&D facility in Vietnam.
The announcement is a step ahead in sustainable cultivated aquaculture innovation, paving the best way for typical seafood corporations to leverage cutting-edge cultivated seafood know-how to supply a diversified portfolio of each typical and cultivated seafood. The joint R&D facility provides to the ecosystem round more healthy diets and rising aware consumption.
Along with this R&D lab collaboration, Shiok and Minh Phu will discover the chance to develop, produce, market and distribute cultivated shrimp merchandise. The collaboration contains engaged on a feasibility examine of commissioning and working vegetation to provide cultivated crustaceans in Vietnam. These potential improvement schemes are additionally well-aligned with Minh Phu’s long run visions, that are to pioneer state-of-the-art applied sciences, aiming towards the sustainable improvement of the seafood trade in Vietnam notably and the entire world.
In a joint assertion, Dr Sandhya Sriram, Group CEO, Chairman & co-founder of Shiok Meats, stated, “establishing a joint R&D facility with Minh Phu Seafood is a significant milestone for us. Our imaginative and prescient has at all times been collaborating with established seafood corporations and hatcheries so as to add selection to the portfolio and meals safety narrative via aquaculture innovation, analysis and tech switch. Our satellite tv for pc R&D facility in Vietnam will concentrate on high-quality cultivated shrimp analysis and know-how.”
At the moment, Shiok Meats operates two satellite tv for pc R&D amenities, one in Thailand and one other one in Australia. In 2021, Shiok Meats had raised a bridge funding spherical bringing the entire raised capital to roughly $30 million. Shiok Meats has proven proof of idea and showcased cultivated shrimp, lobster, and crab prototypes since its inception in August 2018. The corporate is now constructing its pilot manufacturing facility in Singapore, which is able to pace up large-scale manufacturing capabilities. The corporate is on monitor to launch the world’s first cultivated shrimp in no less than one premium restaurant in Singapore by 2023.