BlueNalu partners with Pulmuone to gain access to Asian markets
Food tech firm BlueNalu has partnered with South Korean company Pulmuone to accelerate the introduction of its cell-based seafood into the Asian marketplace.
BlueNalu says that it has signed a Memorandum of Understanding (MOU) with the Seoul-based food producer, which also participated in its Series A funding round.
The aquaculture start-up has developed a method of producing seafood directly from fish cells and says that it aims to create a more stable and sustainable seafood supply chain.
Under this latest agreement, which marks the first collaboration for BlueNalu in South Korea, the companies will work together in areas such as marketing, operations and distribution.
The aim of the partnership is to bring BlueNalu products to the South Korean market in coming years.
“This agreement with Pulmuone represents our shared values and respect for healthy families, a healthy ocean, and a healthy planet,” said Lou Cooperhouse, president and CEO of BlueNalu.
“We plan to launch BlueNalu cell-based seafood products initially in the US, but we also recognise there is significant and increasing market demand for high-quality seafood in South Korea, while supply becomes increasingly vulnerable and potentially contaminated with microplastics, mercury, and environmental pollutants.”
Sang Yun Lee, chief technology officer at Pulmuone, added: “While a product launch is still several years away, we recognise that the global seafood supply is compromised, unpredictable and cannot keep up with demand, so our mutual goal is to accelerate BlueNalu’s introduction to our customers with a product that meets consumer expectations in terms of taste, texture and nutrition, while also providing benefits for the planet and the wellbeing of families.”
Earlier this year, BlueNalu announced that it had formed a strategic partnership with aquafeed producer Nutreco, in what it described as a “significant milestone” that would enable it to accelerate its journey towards commercialisation.