Plant-based egg maker Eat Just Inc announced it had partnered with a consortium led by Proterra Investment Partners Asia to build a plant protein factory in Singapore to serve the Asian market.
Proterra will invest up to $100 million and Eat Just will invest up to $20 million to build and operate the facility. The factory will be located in Singapore, and it will be the first Just Egg factory in Asia.
Eat Just said in a statement: “Once built, the first factory will generate thousands of metric tons of protein, adding to existing large-scale protein facilities in North America and Germany.”
The San Francisco-based start-up developed a liquid egg replacement made from mung bean. The product comes in bottles and looks like beaten eggs. Demand for plant-based meat and dairy alternatives has been growing in Asia. The consumers have become interested in healthier alternatives due to ongoing covid 19 pandemic and concern about the environmental damage caused by industrial animal farming.