New Age Meats

The company operated in the alternative protein market, developing hybrid products that combined animal cells grown in cultivators with plant-based ingredients. This approach aimed to deliver the sensory experience of meat-eating in a more sustainable and humane way. New Age Meats' initial focus was on pork, specifically sausage products, as it is the most consumed meat globally and its biology is well-researched. In 2018, the firm held the first-ever taste test for a cell-based pork sausage.

As a pre-revenue biotech firm, the business model relied on venture capital funding to support its extensive research and development. The company successfully raised a total of $32 million over several funding rounds, including a significant $25 million Series A round in September 2021 led by Hanwha Solutions. This capital was intended to double its workforce and build a 20,000-square-foot pilot production facility in Alameda, California, with a goal of launching commercially in the U.S. pending regulatory approval. However, due to shifts in the capital markets and an inability to secure further investment, New Age Eats faced financial difficulties. In January 2023, the company announced it was walking away from its nearly completed pilot plant, and by March 2023, founder Brian Spears confirmed the company was shutting down due to a lack of funds and mounting debt. Keywords: New Age Meats, New Age Eats, cultivated meat, cellular agriculture, cell-based meat, Brian Spears, cultured pork, alternative protein, food technology, hybrid meat, slaughter-free meat, sustainable food, Andra Necula, IndieBio, ff Venture Capital, Hanwha Solutions, food-tech shutdown, cultivated sausage, bioreactors, cell-cultured products