Following our report revealing Singapore to be a newly emerging epicentre for foodtech in Asia, foodtech startup Life3 Biotech has just announced Singapore’s first integrated agri-food pilot facility, to produce 1,200 to 1,800 tonnes annually of an alternative protein source called Veego, made of legumes, grains and mushrooms.
Supported by the Singapore Food Agency and the Singapore Land Authority and located at Paya Lebar, the 50,000 sq ft facility hopes to start production in a few months. Initially, the company will focus on marketing directly through a B2B model but plans are underway to extend distribution directly to consumers, as well as to hotels, caterers and food services.
The pilot facility will officially launch in the fourth quarter of 2020, while plans to start another bigger production facility are also underway. It plans to reach out to nearby schools, retirement homes and community service centres offering community outreach to help educate people in switching to plant-based.
Life3 Biotech founder Mr Ricky Lin told the Business Times: “Over the past few years, the alternative protein market has been growing rapidly, and global competitors have started entering the South-east Asian market. Right now would be the most opportune time for us to enter this market as well. We want to reshape Singaporeans’ thinking towards sustainable food sources and create more job opportunities for locals in this emerging industry. With an actionable roadmap that we have set up to achieve, we believe Life3 Biotech will contribute positively towards Singapore’s drive towards sustainability and food security.”