Temasek Co-Leads $114m Investment In Eco Food Start Up, Impossible Foods
Another day, another investment for Temasek.
One of the hottest topics in business right now has got to be that of food security. So it comes as no surprise to hear that Temasek have recently co-led a $114 million investment drive in California based ecological food company, Impossible Foods.
So just what are Impossible Foods all about? Well, to put it simply they make renewable sources taste and feel like some of the world's hottest commodities, case in point, taking plant based ingredients and making it taste like beef patties. Speaking of the venture, the company has said: “The Impossible Burger is produced without hormones, antibiotics, cholesterol or artificial flavours. It uses about 75 per cent less water, generates about 87 per cent fewer greenhouse gases, and requires around 95 per cent less land than conventional ground beef from cows.”
So why have Temasek got involved? It could be the fact that other big names such as Bill Gates, UBS and Horizons Ventures have previously been attached to the project. There is the fact that Asia makes up 44% of the world's demand for meat and is growing on a rapid scale. There's also the fact that according to the Population Institute, by 2050 the global population is forecast to reach 9.1 billion, meaning that food production will need to rise by an enormous 70%, a target that on current trend projections isn't achievable unless we change the way we produce our food. Sobering figures indeed.
So, with Temasek and Impossible Foods making this first step towards sustainable consumption, the Impossible Burgers are set to launch in restaurants later this year.
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