now loading...
Wealth Asia Connect Treasury & Capital Markets Europe ESG Forum TechTalk
Asia Connect
Temasek backs Asia plant-based protein venture
Partnership with Germany’s Cremer invests S$6 million in Singapore factory
Tom King 21 Jul 2022

Singapore’s sovereign wealth fund Temasek and Cremer, a family-owned German multinational company, have inaugurated a factory in Singapore to produce plant-based alternative proteins.

Temasek, through its Asia Sustainable Foods Platform (ASF), and Cremer have jointly invested S$6 million (US$4.3 million) in the plant under a joint venture entity, Cremer Sustainable Foods (CSF).

The 11,000 square foot facility will be able to manufacture up to 1,300 tonnes of plant-based protein per annum, which is equivalent to approximately 4.3 million chicken breasts. Using the high moisture extrusion (HME) technology, the factory produces plant-based protein products that resemble meat more closely in texture as compared to traditional manufacturing techniques, such as dry texturized vegetable proteins.

“By bringing HME capabilities to Asia, Cremer aims to provide production support to the fast-growing plant-based community here,” says Damian Krueger, general manager of sustainable nutrition at Cremer.

The facility will also augment Singapore’s local food manufacturing capacity and contribute to the country’s “30 by 30” vision of producing 30% of local nutritional needs locally by 2030.

As demand increases for healthier, more sustainable food options from consumers in Asia, the joint venture partners believe CSF will be well-positioned to manufacture plant-based alternative protein products in the region.

Commenting on the choice of Singapore for the new facility, ASF chief executive officer Mathys Boeren says: “We observed the insufficient availability of contract manufacturing capacity and capabilities for alternative proteins in Asia as compared to the US and Europe. Moreover, localized manufacturing shortens the supply chain and reduces the carbon footprint of alternative proteins.”

CSF will complement ASF’s mission in accelerating the commercialization of sustainable foods in Asia, by providing solutions to foodtechs at every stage of their growth cycle – from product development to launch and commercial scale‐up.

Temasek launched ASF In 2021 to focus on addressing the challenges of scaling up the production of alternative proteins, together with accelerating the growth of sustainable foods in the region.

Conversation
Wei Wei Chum
Wei Wei Chum
managing director and head of global transaction services, China
DBS
- JOINED THE EVENT -
Webinar
Renminbi in the post-Covid future
View Highlights
Conversation
Helena Fung
Helena Fung
head of sustainability investment, APAC
FTSE Russell
- JOINED THE EVENT -
Webinar
Sustainable investing - the new market standard
View Highlights