NEW YORK, Aug. 05, 2024 (GLOBE NEWSWIRE) — Big Idea Ventures, a global investment leader within the food-tech, agri-tech, and materials science sectors, is happy to announce that its portfolio company, Paris-based Gourmey, has filed applications with five regulatory authorities – the United States Food and Drug Administration (FDA), the Singapore Food Agency (SFA), the Food Standards Agency (FSA) in the United Kingdom, the Swiss Federal Food Safety and Veterinary Office (FSVO), and the European Commission (EC).
This is the first time ever, a regulatory submission has been made for cultivated meat in the European Union, marking a significant milestone in the food innovation sector.
“Gourmey’s commitment to innovation and sustainability exemplifies the transformative potential of cultivated foods. We are proud to have supported them from their early days and excited to see them lead the way in bringing sustainable food products to market,” said Andrew D. Ive, Founder and Managing General Partner at Big Idea Ventures.
Big Idea Ventures was the first investor in Gourmey and the startup participated in the New Protein Fund I’s first accelerator program in Singapore in 2020. This recent development is a testament to their dedication to innovation and sustainability, and we are incredibly proud of their progress.
Consumer safety – at the heart of the request for authorization
The applications will now undergo evaluation by each regulatory body, including the EU’s Novel Foods law which is considered the gold standard for food safety.
“We look forward to continuing to work closely with the regulatory authorities to ensure full compliance with safety requirements throughout these procedures. We are confident that our products will meet these highly demanding standards, so that everyone who wants to can enjoy new gourmet experiences all around the world,” said Gourmey’s CEO, Nicolas Morin-Forest.
Gourmey does not use gene-edited or genetically-modified cells, so their application falls within the scope of novel food regulation.
Products with a Positive Impact
A study commissioned by Gourmey, anticipating at-scale production, shows that the company’s innovative technology significantly lowers the environmental footprint compared to conventional production in the same product category. In particular, greenhouse gas emissions, land, and water use would be reduced. The study is conducted under the external scientific leadership of Professor Hanna Tuomisto from the University of Helsinki and the Natural Resources Institute Finland, a leading European scholar and pioneer in the field of life cycle assessments of novel foods, including cultivated food.
“Diversifying protein production is crucial for sustaining food security and contributing to sustainability objectives such as decarbonization and biodiversity. Integrating cultivated food production into existing agrifood value chains provides a complementary protein source that will contribute to resilient food systems,” said Morin-Forest.
This innovation comes at a decisive time when there is a critical need to enhance food security and decrease reliance on low-quality, environmentally detrimental food imports. In this context, cultivated foods can serve as a valuable addition to current agrifood value chains, providing a robust tool for long-term resilience.
“Traditional farming and innovative methods can not only coexist but also support each other in building a sustainable, future-proof food system, potentially making farming more appealing to the next generation,” said Ive.
About Gourmey
Founded in 2019, Gourmey creates sustainable gourmet products directly from non-GMO animal cells by combining food innovation with culinary arts. The company now comprises a 60-strong international team at its food innovation center in Paris, France. Since its inception, Gourmey has secured over €65 million in public and private investments and is currently preparing for market entry, pending regulatory approvals. Gourmey focuses on providing new and delicious culinary experiences, with its flagship product set to offer a new choice for foie gras aficionados, chefs, and restaurants Globally.
Press contact: Grayling France, Dieynaba Kebe, gourmey-press@grayling.com
About Big Idea Ventures
Big Idea Ventures is a global investment leader within the food-tech, agri-tech, and materials science sectors. We specialize in investing in the most innovative and sustainable technology companies worldwide. We combine capital and partnerships to drive economic growth and build new food ecosystems. By creating and supporting trailblazing companies we aim to reduce the climate impact of food production and sustainably feed the world. Big Idea Ventures has teams in New York, Paris and Singapore and has invested in more than 110 companies across 30 countries. Learn more about Big Idea Ventures at www.bigideaventures.com.
Press contact: Olivia Chavassieu, news@bigideaventures.com