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Cargill invests in ‘alternative meat’ startup

Cargill is investing in a startup company that is developing technology to grow meat from self-producing animal cells.

The company, called Memphis Meats, claims it can produce beef, chicken and duck directly from animal cells without raising and slaughtering livestock or poultry.

In a statement provided to Bloomberg, Cargill says it believes consumers will “continue to crave meat, and we aim to bring it to the table, as sustainably and cost-effectively as we can. Cultured meats and conventionally produced meats will both play a role in meeting that demand.”

Billionaires Bill Gates and Richard Branson are among the other investors in Memphis Meats.

The investment in “alternative meat” is just the most recent by traditional meat companies. Tyson, the largest U.S. meat producer, recently announced its stake in a plant-based protein producer called Beyond Meat.