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Image: BlueNalu / FIS
BlueNalu Strengthens Strategic Partnerships with Prominent Seafood Companies in the APAC Region
(UNITED STATES, 10/5/2023)
Multinational seafood companies Mitsubishi Corporation, Pulmuone Co. Ltd. and Thai Union extend MOUs to facilitate the introduction of BlueNalu’s cell-cultured seafood across international markets
BlueNalu, a global leader in the development of cell-cultured seafood, announced the extension and enhancement of its strategic partnerships with three multinational seafood industry leaders headquartered in the Asia-Pacific (APAC) region. These partnerships will support BlueNalu’s planned introduction of cell-cultured seafood in a number of APAC nations over the coming years, by fostering market insights, understanding regulatory requirements, and developing go-to-market strategies.
(Left to right) Amir Feder, CFO of BlueNalu; Noreen Hobayan, Director of Quality & Regulatory Affairs of BlueNalu; Sung Yoon Nam, VP of Sales and NBD, Pulmuone Foods USA; Lauran Madden, Ph.D., CTO of BlueNalu; Lou Cooperhouse, Founder, President & CEO of BlueNalu; Suk Kim, Head of Marketing of Pulmuone Foods USA; Sang Yun Lee of Global CTO of Pulmuone; HY Lee, Global CEO of Pulmuone; K.S. Cho, CEO of Pulmuone Foods USA; and Eric Byun, VP of R&D of Pulmuone Foods USA.
The expanded collaborations include independent Memorandums of Understanding (MOU) with Mitsubishi Corporation in Japan, Pulmuone Co. Ltd. in South Korea, and Thai Union in Thailand, each of whom boasts a rich legacy and strong presence in the global seafood sector.
BlueNalu's strategic alliances with these industry giants are designed to focus on three key areas of collaboration: facilitating comprehensive market research to understand consumer preferences, emerging trends, and evolving market dynamics; identifying and understanding the regulatory requirements unique to each market to expedite the process of gaining approvals and certifications necessary for the distribution of BlueNalu's products; and developing market entry, distribution, and supply chain management strategies to introduce BlueNalu's products to consumers, restaurants, and retailers across the APAC region.
BlueNalu has continually differentiated itself with scalable technologies, and a culinary and market-driven focus that targets premium foodservice opportunities, in both sushi and fine-dining restaurants. The company’s first product under development is the high-value toro portion of bluefin tuna, which is highly sought after in Asia where over 80% of the estimated global supply is consumed. Bluefin tuna is available in very limited supply, can be extremely variable in its quality and sensory attributes, and has faced steep declines in fish stocks due to issues like overfishing and illegal, unregulated and unreported (IUU) fishing.
.jpg) Lou Cooperhouse, President and CEO of BlueNalu, shared his excitement about these strengthened partnerships, stating, "We are honored to deepen our collaborations with Mitsubishi Corporation, Pulmuone Co. Ltd., and Thai Union, visionary partners who share our commitment to driving innovation and shaping the future of the seafood industry. These extended partnerships in the APAC region underscore our dedication to working collaboratively with local experts in each region that we target, and our ultimate goal to provide our customers with healthy and trusted seafood options that have superior product benefits and align with evolving market conditions."
The renewed collaborations, which began with Pulmuone Co. Ltd. in 2020 and with Mitsubishi Corporation and Thai Union in 2021, represent a shared interest in the commercialization of cell-cultured seafood in Asia and a commitment to sustainable seafood solutions in order to meet rising demand. Global seafood consumption is at an all-time high and continues to increase, particularly in Asia, outpacing the growth in population. Current seafood production from wild-caught and farm-raised sources cannot keep pace with demand according to the United Nations, which projects a supply chain gap representing 28 million metric tons of new seafood production will be needed by 2030. In addition, the global seafood supply is challenged by overfishing, climate change, and environmental contamination like microplastics and nuclear waste. BlueNalu’s cell-cultured seafood is designed as a third solution that can help meet growing demand in a safe and sustainable way.
Source: Bluenalu
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www.seafood.media
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