CHICAGO — ADM and Asia Sustainable Foods, a company owned by Temasek, have a signed an agreement to form a 50-50 joint venture that will specialize in developing microbial-based proteins to create alternatives to meat protein and dairy protein.
The joint venture will provide technology development and precision fermentation for companies serving bio-based products, including alternative protein, in Singapore and the Asia Pacific region. The joint venture will provide support in food-grade fermentation, downstream processing, lab services and consulting.
The Singapore Economic Development Board will support the proposed joint venture.
“We’re proud to advance a proposed partnership with Temasek’s Asia Sustainable Foods Platform and the Singapore Economic Development Board to bring our unparalleled precision fermentation expertise to companies across APAC who are meeting the growing demand for alternative proteins,” said Juna Luciano, chairman and chief executive officer of Chicago-based ADM. “ADM is a leader in microbial solutions, and from our recent investment in Acies Bio to our work with partners like Nature’s Fynd, Air Protein and now Temasek, we’re finding new ways to power growth and offer exciting, innovative solutions to serve the nutritional needs of the world’s growing population.”