Cultured Meat 101: The Next Generation of Food
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Cultured Meat 101: The Next Generation of Food

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The following content is sponsored by CULT Food Science (CSE: CULT)

 

Cultured Meat 101: The Next Generation of Food

Investors are injecting the cellular agriculture market with billions of dollars and making big bets on the future of cultured foods—otherwise known as cell-based, or lab-grown foods.

With more countries now evaluating the regulation of these products, could this be the year consumers embrace cultured meat products with open arms?

To answer your burning questions about investing in this nascent space, here’s everything you need to know from our sponsor CULT Food Science.

What is Cultured Meat?

Cultured meat is genuine animal meat that is produced by cultivating animal cells in a controlled environment—eliminating the need to farm animals for food. Here is a step-by-step guide showing how cultured meat (also known as clean meat) is made:

Step 1:
Tissue is taken from the animal, for the purpose of extracting stem cells and creating cell lines.

Step 2:
The extracted stem cell lines are cultivated in a nutrient-rich environment, mimicking in-animal tissue growth and producing muscle fibers inside a bioreactor.

Step 3:
The muscle fibers are processed and mixed with additional fats and ingredients to assemble the finished meat product.

Because cultured meat is made of the same cell types and structure found in animal tissue, the sensory and nutritional profiles are like-for-like.

What are the Benefits?

The benefits of cultured meat are three-pronged, in that there are a wide range of benefits for the planet, for people, and for animals that include:

  • Reduces land use by up to 95%.
  • Reduces the impacts of global warming by up to 92% when produced with renewable energy.
  • Leads to less chance of contamination.
  • Requires no hormones.
  • Requires no antibiotics.
  • Reduces spread of zoonotic disease.
  • Removes livestock almost entirely from the production process.

As cultured meat products enter the mainstream, additional benefits such as affordability can be added to this list. According to experts, buying cultured meat may one day be cheaper than buying conventional meat products.

How Big is the Market?

While consumer awareness of cultured food products is currently low, acceptance is growing across the globe. In fact, almost one-third of UK consumers are willing to try cultured meat because of its less intensive impact on the environment compared to conventional meat.

Depending on factors such as strong consumer demand, price parity, and innovation in cellular agriculture, the cultured meat market could explode within the next decade and be worth $25 billion by 2030 according to McKinsey.

Interestingly, the success of the cultured meat market will also bleed into other adjacent industries such as dairy, eggs, seafood, chocolate, and honey.

Is the Market Regulated?

While we are merely in the early chapters of the cultured meat story, many countries are already spearheading the movement.

RegionStatus
🇸🇬
Singapore
Singapore became the first country in the world to approve the sale of a cultivated meat product in 2020.
🇪🇺
Europe
When produced without genetic modification, cultured meat is regulated under the novel foods regulation in the EU, and more funding is being encouraged as a result.
🇶🇦
Qatar
Qatar will likely follow in Singapore’s path and become the next nation to sell cultured meat products.
🇯🇵
Japan
The government in Japan is developing a regulatory framework for cultured meat to help grow consumer acceptance.
🇮🇱
Israel
With plans to become the cultured meat and alternative protein powerhouse, Israel opened the world’s first “slaughter-free” meat factory in 2021.
🇺🇸
United States
The FDA and the USDA have agreed to jointly regulate cultured meat. Further clarity on next steps is expected this year.

As cultured food products continue to edge their way into grocery stores, more regulatory approval pathways will become clear.

How Big is the Investment Opportunity?

Capital flow into the cultured meat industry has shot up in recent years and shows no signs of slowing down.

According to Pitchbook, $366 million worth of investment was pumped into the market in 2020. Fast forward to 2021, and that figure jumps to $1 billion according to other sources—however it must be noted that this figure is merely an estimate.

Investments are coming from major companies such as Cargill, Mitsubishi, and Tyson. While celebrities such as Bill Gates and Richard Branson are also putting their money where their mouth is and fueling the growth of the industry.

So can you expect to see cultured meat products on the shelves of your local grocery store in the years to come? All signs point to yes.

Your Path to Investing in Cultured Meat

CULT Food Science is an innovative investment platform advancing the technology behind the future of food with an exclusive focus on cultured meat, cultured dairy, and cell-based foods.

The company’s global portfolio spans four continents and includes exposure to a diverse pipeline of technologies and products, including:

  • Cell lines
  • End products
  • Scaffolding technology
  • Growth medium
  • Intellectual property

Want to stay updated? Click here to subscribe to the CULT Food Science mailing list.

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Ranked: Emissions per Capita of the Top 30 U.S. Investor-Owned Utilities

Roughly 25% of all GHG emissions come from electricity production. See how the top 30 IOUs rank by emissions per capita.

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Emissions per Capita of the Top 30 U.S. Investor-Owned Utilities

Approximately 25% of all U.S. greenhouse gas emissions (GHG) come from electricity generation.

Subsequently, this means investor-owned utilities (IOUs) will have a crucial role to play around carbon reduction initiatives. This is particularly true for the top 30 IOUs, where almost 75% of utility customers get their electricity from.

This infographic from the National Public Utilities Council ranks the largest IOUs by emissions per capita. By accounting for the varying customer bases they serve, we get a more accurate look at their green energy practices. Here’s how they line up.

Per Capita Rankings

The emissions per capita rankings for the top 30 investor-owned utilities have large disparities from one another.

Totals range from a high of 25.8 tons of CO2 per customer annually to a low of 0.5 tons.

UtilityEmissions Per Capita (CO2 tons per year)Total Emissions (M)
TransAlta25.816.3
Vistra22.497.0
OGE Energy21.518.2
AES Corporation19.849.9
Southern Company18.077.8
Evergy14.623.6
Alliant Energy14.414.1
DTE Energy14.229.0
Berkshire Hathaway Energy14.057.2
Entergy13.840.5
WEC Energy13.522.2
Ameren12.831.6
Duke Energy12.096.6
Xcel Energy11.943.3
Dominion Energy11.037.8
Emera11.016.6
PNM Resources10.55.6
PPL Corporation10.428.7
American Electric Power9.250.9
Consumers Energy8.716.1
NRG Energy8.229.8
Florida Power and Light8.041.0
Portland General Electric7.66.9
Fortis Inc.6.112.6
Avangrid5.111.6
PSEG3.99.0
Exelon3.834.0
Consolidated Edison1.66.3
Pacific Gas and Electric0.52.6
Next Era Energy Resources01.1

PNM Resources data is from 2019, all other data is as of 2020

Let’s start by looking at the higher scoring IOUs.

TransAlta

TransAlta emits 25.8 tons of CO2 emissions per customer, the largest of any utility on a per capita basis. Altogether, the company’s 630,000 customers emit 16.3 million metric tons. On a recent earnings call, its management discussed clear intent to phase out coal and grow their renewables mix by doubling their renewables fleet. And so far it appears they’ve been making good on their promise, having shut down the Canadian Highvale coal mine recently.

Vistra

Vistra had the highest total emissions at 97 million tons of CO2 per year and is almost exclusively a coal and gas generator. However, the company announced plans for 60% reductions in CO2 emissions by 2030 and is striving to be carbon neutral by 2050. As the highest total emitter, this transition would make a noticeable impact on total utility emissions if successful.

Currently, based on their 4.3 million customers, Vistra sees per capita emissions of 22.4 tons a year. The utility is a key electricity provider for Texas, ad here’s how their electricity mix compares to that of the state as a whole:

Energy SourceVistraState of Texas
Gas63%52%
Coal29%15%
Nuclear6%9%
Renewables1%24%
Oil1%0%

Despite their ambitious green energy pledges, for now only 1% of Vistra’s electricity comes from renewables compared to 24% for Texas, where wind energy is prospering.

Based on those scores, the average customer from some of the highest emitting utility groups emit about the same as a customer from each of the bottom seven, who clearly have greener energy practices. Let’s take a closer look at emissions for some of the bottom scoring entities.

Utilities With The Greenest Energy Practices

Groups with the lowest carbon emission scores are in many ways leaders on the path towards a greener future.

Exelon

Exelon emits only 3.8 tons of CO2 emissions per capita annually and is one of the top clean power generators across the Americas. In the last decade they’ve reduced their GHG emissions by 18 million metric tons, and have recently teamed up with the state of Illinois through the Clean Energy Jobs Act. Through this, Exelon will receive $700 million in subsidies as it phases out coal and gas plants to meet 2030 and 2045 targets.

Consolidated Edison

Consolidated Edison serves nearly 4 million customers with a large chunk coming from New York state. Altogether, they emit 1.6 tons of CO2 emissions per capita from their electricity generation.

The utility group is making notable strides towards a sustainable future by expanding its renewable projects and testing higher capacity limits. In addition, they are often praised for their financial management and carry the title of dividend aristocrat, having increased their dividend for 47 years and counting. In fact, this is the longest out of any utility company in the S&P 500.

A Sustainable Tomorrow

Altogether, utilities will have a pivotal role to play in decarbonization efforts. This is particularly true for the top 30 U.S. IOUs, who collectively serve 60 million Americans, or one-fifth of the U.S. population.

Ultimately, this means a unique moment for utilities is emerging. As the transition toward cleaner energy continues and various groups push to achieve their goals, all eyes will be on utilities to deliver.

The National Public Utilities Council is the go-to resource to learn how utilities can lead in the path towards decarbonization.

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The Road to Decarbonization: How Asphalt is Affecting the Planet

The U.S. alone generates ∼12 million tons of asphalt shingles tear-off waste and installation scrap every year and more than 90% of it is dumped into landfills.

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Road to Decarbonization - How Asphalt is Affecting the Planet

The Road to Decarbonization: How Asphalt is Affecting the Planet

Asphalt, also known as bitumen, has various applications in the modern economy, with annual demand reaching 110 million tons globally.

Until the 20th century, natural asphalt made from decomposed plants accounted for the majority of asphalt production. Today, most asphalt is refined from crude oil.

This graphic, sponsored by Northstar Clean Technologies, shows how new technologies to reuse and recycle asphalt can help protect the environment.

The Impact of Climate Change

Pollution from vehicles is expected to decline as electric vehicles replace internal combustion engines.

But pollution from asphalt could actually increase in the next decades because of rising temperatures in some parts of the Earth. When subjected to extreme temperatures, asphalt releases harmful greenhouse gases (GHG) into the atmosphere.

Emissions from Road Construction (Source) CO2 equivalent (%)
Asphalt 28%
Concrete18%
Excavators and Haulers16%
Trucks13%
Crushing Plant 10%
Galvanized Steel 6%
Reinforced Steel6%
Plastic Piping 2%
Geotextile1%

Asphalt paved surfaces and roofs make up approximately 45% and 20% of surfaces in U.S. cities, respectively. Furthermore, 75% of single-family detached homes in Canada and the U.S. have asphalt shingles on their roofs.

Reducing the Environmental Impact of Asphalt

Similar to roads, asphalt shingles have oil as the primary component, which is especially harmful to the environment.

Shingles do not decompose or biodegrade. The U.S. alone generates ∼12 million tons of asphalt shingles tear-off waste and installation scrap every year and more than 90% of it is dumped into landfills, the equivalent of 20 million barrels of oil.

But most of it can be reused, rather than taking up valuable landfill space.

Using technology, the primary components in shingles can be repurposed into liquid asphalt, aggregate, and fiber, for use in road construction, embankments, and new shingles.

Providing the construction industry with clean, sustainable processing solutions is also a big business opportunity. Canada alone is a $1.3 billion market for recovering and reprocessing shingles.

Northstar Clean Technologies is the only public company that repurposes 99% of asphalt shingles components that otherwise go to landfills.

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