San Diego, California, U.S.A.-based cellular aquaculture firm BlueNalu has announced that it has signed a memorandum of understanding with South Korea-based Pulmuone Co. Ltd., a leader in environmentally-friendly, healthy lifestyle food products.
The move is set to accelerate BlueNalu’s entrance to the Asian marketplace. Pulmuone has a 35-year history in the health and wellness market and has roots in sustainable farming. The company also participated in BlueNalu’s A round of financing earlier this year.
“This agreement with Pulmuone represents our shared values and respect for healthy families, a healthy ocean, and a healthy planet,” BlueNalu President and CEO Lou Cooperhouse said in a press release. “We plan to launch BlueNalu cell-based seafood products initially in the United States, but we also recognize 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. Partnerships are critical for our success and we are proud to partner with Pulmuone.”
BlueNalu recently announced a substantial expansion of the company’s operations, the hiring of a chief financial officer, and improvements to several internal teams, setting the stage for the firm to launch its products in late 2021. The company publicized an expansion into a new facility in San Diego over 38,000 square feet, increasing the company’s physical workspace six-fold.
Both companies believe that cell-based seafood products will seamlessly enter the market in Asia, supplementing the current supply of wild-caught and farm-raised fish.
“This is an exciting collaboration with BlueNalu that we anticipate will allow us to introduce cell-based seafood products in South Korea that we know our customers will enjoy,” Pulmuone Senior Managing Director Sang Yun Lee said. “While a product launch is still several years away, we recognize 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 well-being of families.”
Earlier this year, BlueNalu also entered a strategic partnership with Nutreco, Dutch provider of aquafeed and the parent company of Skretting, bringing aquafeed company’s expertise in fish nutrition as well as its raw materials and ingredient procurement expertise to BlueNalu’s strategic collaborations.
Photo courtesy of BlueNalu
