Nutrition and ag processing company ADM has announced a joint venture (JV) with Asia Sustainable Foods Platform, a wholly owned subsidiary of Singapore investment firm Temasek.
The newly launched platform – the Asia Sustainable Foods Platform – is designed to help food-tech companies in Asia scale up production and accelerate the growth of alternative protein foods in the region. It will provide R&D advisory and pilot-scale manufacturing facilities to support food-tech businesses accelerate product commercialisation.
The platform will also provide manufacturing capabilities, along with market insights into commercialisation opportunities to support scaling up across Asia and provide businesses with a network of strategic connections and invest directly in promising food-tech start-ups.
Temasek deputy head, Enterprise Development Group Yeoh Keat Chuan said: “Asia is expected to require around US$1.55 trillion of investment over the next decade to satisfy growing consumer demands for healthier and more sustainable food options. We need to evolve our current capabilities to bolster food security and strengthen supply chains,”
“Temasek has invested over US$8 billion in the global farm-to-fork value chain since 2013 and will continue to increase our investments in this space. Singapore has a significant role to play in the transformation of the agri-food sector. The Asia Sustainable Foods Platform aims to support local and regional businesses, innovate, scale up and commercialise,” he added.
ADM JV on microbial-based alternative protein
ADM has signed a 50:50 JV to provide technology development and precision fermentation for companies serving the growing consumer demand for a wide variety of bio-based products, including alternative protein, in Singapore and the wider Asia-Pacific region.
ADM said it JV would be a one-stop shop for both start-ups and mature businesses looking for support in food-grade fermentation, downstream processing, lab services and consulting. It would have the capability to assist customers, from bench to pilot scale, and would specialise in the development of microbial-based proteins to create alternatives to meat and dairy proteins and other in-demand food and beverage solutions.
ADM chair and CEO Juan Luciano said the company was proud to bring its precision fermentation expertise to companies across APAC.
“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,” Luciano said.
ADM APAC president Joe Taets said: “We’ve talked to innovators, from start-ups to mature food providers, in Singapore and across APAC, and they have told us that they are eager and waiting for a partner that can provide support for food-grade precision fermentation technology.
“This first-of-its-kind joint venture in Singapore would meet that demand, and in doing so, will help further the development of the alternative protein industry in APAC.”
The ADM JV is supported by the Singapore Economic Development Board.
The Asia Sustainable Foods Platform will be managed by a core team of food-tech professionals, led by newly appointed CEO, Mathys Boeren. Boeren has worked in the food and food-ingredients industry for more than 25 years,
For Boeren, the platform’s key differentiating factor is its end-to-end enabler, operator, and investor capabilities.
“Those capabilities provide bespoke solutions and support to aspiring food-tech companies at every stage of their growth cycle.
“With our support to remove friction-to-adoption, companies can speed up their product development and pilot launch, as well as accelerate their commercial scale-up and go-to-market,” Boeren said.
Other components of the platform are:
Food Tech Innovation Centre (FTIC)
The platform and A*STAR’s Singapore Institute of Food & Biotechnology Innovation (SIFBI) have committed to invest over S$30 million in the FTIC over the next three years, to provide tailored infrastructure and service offerings to promising food-tech start-ups.
FTIC will be a one-stop shop where aspiring food-tech start-ups will have access to a food grade pilot scale facility with extrusion and fermentation equipment, shared labs, test kitchens, co-working spaces, as well as A*STAR’s deep R&D know-how.
Partnership with CREMER
German agri-food multinational CREMER’s JV with the platform will augment its manufacturing capabilities for plant-based protein products. Key to this process is high moisture extrusion (HME), a new technology for producing texturised proteins that more closely resemble meat than other plant-based manufacturing techniques.
