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SINGAPORE: US company Perfect Day, which makes dairy protein without animals, will collaborate with the Agency for Science, Technology and Research (A * STAR) to launch a research and development (R&D) center in Singapore.
The facility, which will be operational in April next year, will leverage the capabilities of two A * STAR research institutes: the Singapore Institute for Food and Biotechnology Innovation, which has expertise in flavor analysis, and the Institute for Molecular Biology and Cell phone. with its capabilities in the study of proteins.
Perfect Day and A * STAR signed an agreement on Monday (December 21), which was witnessed by the Minister of Commerce and Industry Chan Chun Sing.
The joint lab will support Perfect Day’s global R&D activities, with a focus on “developing analytical systems that will be critical to ensuring the precision, specificity and consistency of Perfect Day’s fermentation processes and protein ingredients,” said the Mr. Chan.
He noted that Perfect Day would also hire and train a group of researchers, scientists and engineers locally, and that the collaboration would further anchor the company’s investments in Singapore and develop the country’s R&D talent.
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Formed in 2014, Perfect Day produces its dairy proteins animal-free by providing microflora, a type of microorganism. The microflora is given a genetic “blueprint” found in whey and casein proteins to create actual milk proteins identical to those found in cow’s milk.
These can then be used to make products like ice cream, cheese, and yogurt. While they have the same taste and texture as traditional dairy products, they are made in a more sustainable way and will have a smaller environmental footprint.
Perfect Day has raised $ 360 million in its latest round of funding from investors including Temasek and Hong Kong venture capital firm Horizons Ventures.
The company is “actively working” to market its products here, co-founder Perumal Ghandi told reporters during a news conference Monday.
The agri-food technology sector is a bright spot amid the ongoing COVID-19 pandemic, Chan said, adding that there are increasing opportunities to grow Singapore’s sustainable food production model both locally and throughout the region.
He pointed to global companies such as the German indoor vertical farming company & ever, which had announced plans to establish a farm producing 500 tonnes of vegetables per year, as well as a global R&D center in Singapore.
Meanwhile, local startups Shiok Meats, which produces farmed shellfish products, and TurtleTree Labs, which works with cell-grown dairy spaces, had recently raised $ 20.4 million and $ 9.4 million, respectively. he pointed.
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The government is building a “dynamic group” of financial companies, as well as a base of global agri-food accelerators, Chan said.
“Our ultimate goal is to create an experienced talent pool to deploy more than S $ 90 million of capital,” he said.
“To help nurture local talent in this sector, we will work with leading global industry players, such as Perfect Day, to develop the capabilities of their workforce and ensure we remain open to good talent,” he said, adding that Further collaborations with industry players’ institutes and higher learning will be fostered to nurture future talent.
The growth of Singapore’s agri-food technology sector will not only help the country meet its goal of producing 30 percent of its food by 2030, but will also meet the growing food needs of the Asia-Pacific market in a more environmentally friendly way. with the environment, he said. .
“How do we deal with a growing world population in a more sustainable way that reduces damage to the environment? These are all very critical questions that, COVID or not, we will have to address in the coming years, “he added.
“And that’s why our sense of the market is not just about how big the local market is, it’s really about how big the global market can be.”
