Cultivated fish biotechnology company announces strategic investment from leading seafood and functional protein producer
Cultivated fish biotechnology company Avant Meats Company Limited (“Avant”) and Vinh Hoan Corporation (HOSE: VHC; “VHC”) today announced that VHC has agreed to acquire Vinh Technology Pte Limited which was incorporated in Singapore and holds a minority interest in Avant.
- Poughkeepsie-Newburgh-Middletown, NY (1888PressRelease) January 26, 2021 - (HONG KONG AND HO CHI MINH CITY) Jan 25, 2021, Monday - Cultivated fish biotechnology company Avant Meats Company Limited (“Avant”) and Vinh Hoan Corporation (HOSE: VHC; “VHC”) today announced that VHC has agreed to acquire Vinh Technology Pte Limited which was incorporated in Singapore and holds a minority interest in Avant.
VHC is the world’s largest pangasius fish company and a pioneer in sustainable functional proteins in Vietnam. It will establish a strategic partnership with Avant to accelerate commercialization of cultivated fish proteins by leveraging on its global sales network and industrial manufacturing capability.
VHC will also use Vinh Technology division to access strategic opportunities in agritech, foodtech, and biotech related to seafood and alternative proteins.
This strategic partnership provides an example of how Avant’s biotechnology platform can collaborate with industry players to diversify business and operational model. Avant will continue to work with industry partners to offer sustainable model to produce alternative proteins.
“We look forward to working with Avant to commercialize a new generation of cultivated fish proteins for food and functional applications,” said Ms Khanh Truong, Founder and Chairwoman, VHC.
“Avant offers a unique opportunity for us to diversify our future product portfolio to offer additional choices to address emerging consumer needs and trends,” noted Ms Tam Nguyen, Chief Executive Officer, VHC.
“VHC is a global leader in aquaculture and functional proteins,” commented Ms Carrie Chan, Co-founder and Chief Executive Officer, Avant. “VHC’s knowledge of customer requirements will provide valuable guidance for our product development and commercialization.”
“Avant and VHC align in common value of offering fully traceable and research-based functional protein products,” remarked Dr Mario Chin, Co-founder and Chief Scientific Officer, Avant.
About Avant
Avant is the first cultivated meat biotechnology company in China. Its patent-pending proprietary technology platform produces animal-free fish proteins for food, skincare, and other functional applications in a cost-effective and fully traceable bioprocess, directly from fish cells. Avant aims to be a global technology leader in producing functional, safe, and sustainable cultivated marine products in a fully contained environment. It has been named to Clean Tech Group’s 2020 APAC 25 list of most innovative sustainable companies and featured in Forbes, The Telegraph, South China Morning Post, and CCTV. Avant was founded in 2018 and is based in Hong Kong Science Park. For more information, please visit www.avantmeats.com.For interview requests or media inquiries, please contact press ( @ ) avantmeats dot com. About Vinh Hoan CorporationVinh Hoan Corporation (HOSE: VHC) is the world’s largest pangasius fish company and a pioneer in sustainable functional proteins in Vietnam. It operates four divisions: Vinh Aquaculture, Vinh Foods, Vinh Wellness, and Vinh Technology. Vinh Aquaculture engages in sustainable hatchery and aquaculture; Vinh Foods manufactures and markets responsible seafood globally; Vinh Wellness manufactures and markets functional proteins for pharmaceutical, skincare, and functional food applications globally; Vinh Technology advances strategic agritech, foodtech and biotech collaboration in seafood and alternative proteins. Vinh Hoan Corporation was founded in 1997 and is headquartered in Cao Lanh, Dong Thap Province, Vietnam. For more information, please visit vinhhoan.com.For interview requests or media inquiries, please contact Investor Relations at ir ( @ ) vinhhoan dot com.
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