JBS S.A. announced a $100 million investment into cultivated protein and their acquisition of Spanish company BioTech Foods SL.
The company said it would also construct a new $41 million plant in Spain to scale production of BioTech’s products by mid-2024. JBS announced BioTech would make prepared foods such as hamburgers, sausages and meatballs.
Additionally, JBS will start the first Center for Research and Development in biotechnology and cultivated protein in Brazil. The new center is expected to open in 2022, develop new techniques that will accelerate the scale of cultivated products and reduce production costs.
