San Diego, California, U.S.A.-based cellular aquaculture firm BlueNalu has 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.
BlueNalu is developing cell-based seafood products initially focusing on finfish including mahi, red snapper, tuna, and yellowtail, aiming to produce seafood that has a taste indiscernible from wild-caught options, without sustainability or environmental concerns.
The company recently publicized an expansion into a new facility in San Diego over 38,000 square feet, increasing the company’s physical workspace six-fold. The new facility will house an R&D lab and a Good Manufacturing Process (GMP) pilot-scale food production plant designed specifically for the commercial production of various cell-based seafood products in its initial test markets. The facility will also include a kitchen and demonstration space for visiting chefs and interested food industry leaders to cook with and sample cell-based seafood.
“The announcement of this new facility is an exciting milestone for BlueNalu, as it is our intent to launch our products in the marketplace during the second-half of 2021,” BlueNalu CEO Lou Cooperhouse said. “BlueNalu is continually exploring opportunities for growth, and proactively investigating the expansive opportunities for our cellular aquaculture process.”
The company also announced the hiring of Amir Feder as its CFO. Feder was most recently the CFO of Hughes Marino, a Southern California-based commercial real estate firm, where he led all aspects of the firm’s finances and partnered with the executive team to optimize margins and target strategic acquisitions. He has also worked for advertising agency Droga5. Feder will work on investor relations, corporate governance, and BlueNalu’s long-term corporate strategy, according to Cooperhouse.
“I am thrilled to join the BlueNalu team as CFO. It is a privilege to participate in this dynamic and market-disrupting company and fulfill BlueNalu’s vision to positively impact global food security, ocean conservation and human health through innovation,” Feder said. “With our new larger facility and the impressive developments in our technology, this initiates phase three of our five-phase commercialization strategy. It is an exciting time as we are leading a new category of food innovation and poised for a successful market launch.”
BlueNalu plans on doubling its staff within the next year as well, expanding its project management, technology, product development, and engineering teams, Cooperhouse said.
In March, the company completed its USD 20 million (EUR 19 million) Series A round of financing as well and has now drawn investors from 11 countries. And in January, it entered into a strategic partnership with Nutreco, a Dutch provider of aquafeed that will bring its expertise in fish nutrition to the table on the road to bringing cell-based seafood to market.
Photo courtesy of BlueNalu
