Meatable has been awarded EUR 7.6 million under the Innovation Credit program by the Netherlands Enterprise Agency (RVO). The RVO Innovation Credit is intended for the development of innovative development projects with considerable technological risks and excellent market prospects. Meatable will use the credit to further improve productivity and reduce costs in the lead-up to commercialization.
Demand for meat continues to grow rapidly. Already, as many as 828 million people – or 10 percent of the world’s population – go to bed hungry each night. To keep up with this demand, the required supply increases under current livestock production methods will have further devastating impact on the environment and society. Cultivated meat is set to be part of the solution – one single sample of cells has the potential to feed to world, without any of the environmental or societal drawbacks.
Meatable has developed a unique technology platform to produce cultivated meat and will work as a partner to the meat industry to roll out products at scale. The Innovation Credit comes on top of Meatable’s 2023 EUR 30 million Series B funding round and will bring the company one step closer to fulfilling its vision of satisfying the world’s appetite for meat, without harming people, animals or the planet.
The Netherlands Enterprise Agency helps entrepreneurs and organizations to invest, develop and expand their businesses and projects, both in the Netherlands and abroad. RVO is a government agency and part of the Dutch Ministry of Economic Affairs.
