- Thai Union has invested in BlueNalu, joining other industry-leading strategic and financial partners in backing the start-up
- BlueNalu, based in California, is one of the world’s leading cell-based seafood start-ups
BlueNalu, based in California, is one of the world’s leading cell-based seafood companies. Cell-based seafood is an innovative way to produce premium fish products directly from the cells of fish and is equivalent to conventional products in terms of its taste, texture, and nutritional profile. The company plans to introduce a wide variety of cell-based seafood products, including mahi mahi and bluefin tuna. BlueNalu will leverage this financing to complete the world’s first commercial pilot facility for producing cell-based seafood, and for market launch plans in late 2021.
Caption: Menu items that demonstrate BlueNalu's whole-muscle, cell-based yellowtail prepared three ways. (Credit: BlueNalu)
Thiraphong Chansiri, President and CEO of Thai Union said, “Thai Union is an industry leader in innovation and sustainability, and cell-based seafood perfectly aligns with both of these goals. BlueNalu and its experienced team is at the forefront of cell-based seafood technology, with strong process capabilities to scale-up seafood in a sustainable manner. We are excited to work with them and look forward to exploring collaboration opportunities.”
Lou Cooperhouse, BlueNalu’s co-founder, President and CEO commented: “We are thrilled that BlueNalu is the first investment that Thai Union has made in the cell-based foods sector. Thai Union’s investment in BlueNalu represents an investment in the future of food and their commitment to innovation. We look forward to exploring various ways in which we will complement Thai Union’s position as one of the largest seafood operators globally.”
Thai Union’s venture fund was launched in 2019 with an initial commitment of USD 30 million and focuses its investments on three strategic areas: alternative protein, functional nutrition and new technologies along the food value chain. Thai Union is investing in early-stage entrepreneurial companies that are active in these areas and will actively partner with these companies to support and accelerate their development.
About Thai Union Group
Thai Union Group PCL is the world's seafood leader bringing high quality, healthy, tasty and innovative seafood products to customers across the world for more than 40 years.
Today, Thai Union is regarded as one of the world's leading seafood producers and is one of the largest producer of shelf-stable tuna products with annual sales exceeding THB 126.3 billion (US$ 4.1 billion) and a global workforce of over 44,000 people who are dedicated to pioneering sustainable, innovative seafood products.
The company's global brand portfolio includes market-leading international brands such as Chicken of the Sea, John West, Petit Navire, Parmentier, Mareblu, King Oscar, and Rügen Fisch and Thai-leading brands SEALECT, Fisho, Qfresh, Monori, Bellotta and Marvo.
As a company committed to innovation and globally responsible behavior, Thai Union is proud to be a member of the United Nations Global Compact, and a founding member of the International Seafood Sustainability Foundation (ISSF). In 2015, Thai Union introduced its SeaChange® sustainability strategy. Find out more at seachangesustainability.org. Thai Union's on-going work on sustainability issues was recognized in 2018 and 2019 by being ranked number one in the world in the Food Products Industry in the Dow Jones Sustainability Index, achieving a 100th percentile ranking for total sustainability score. Thai Union has now been named to the DJSI for seven consecutive years. Thai Union was also named to the FTSE4Good Emerging Index for the fifth straight year in 2020.
About BlueNalu Inc.
BlueNalu is the global leader in developing great tasting, healthy, safe, and trusted cell-based seafood products that support the sustainability and diversity of our ocean. BlueNalu is aligned with the United Nations’ Sustainable Development Goals, a blueprint to achieve a better and more sustainable future for our planet. BlueNalu began its operations in 2018 and is based in San Diego, California.