If this Silicon Valley food-tech startup has its way, its lab-grown meat—which includes chicken, duck and beef—will be on a supermarket shelf near you within the next five years. “[We’re] trying to put products on the shelves by 2021/2022,” Uma Valeti, Memphis Meats co-founder and CEO, tells FOX Business. In March, the company announced that it created the “world’s first chicken strip from animal cells,” following their animal-free meatball debut in 2016. Lab-grown beef was previously developed in 2012 by a group of Dutch scientists.
“Essentially, we are taking a number of animal cells, giving them clean and nutritious food and then we watch them grow into a muscle. We harvest that muscle and then cook it,” Valeti says. The whole process from start to finish takes about four to six weeks, depending on the texture. Valeti says the company’s current main goal is to raise capital and lower their production costs, in order to quickly bring the product to market. READ MORE