Wednesday, July 14, 2021

Coca-Cola invests in cell-cultured milk

Central Bottling Company (CBC) which holds the Coca-Cola rights in Israel has signed a research and development deal with Biomilk to make and market cell-cultured dairy products.

It is investing $2 million US in the Biomilk company founded three years ago by Dr. Nurit Argov-Argaman and Maggie Levy of the Hebrew University of Jerusalem.

They said BioMilk was set up to end the suffering of dairy cows and save the energy consumed by dairy farming. 

It became the first cell-cultured milk company to go public this year on the Tel Aviv Stock Exchange where shares are now valued at $223 million US.

As part of the deal, BioMilk will transfer future products to CBC-owned Tara Dairy for pilot commercial production. 

Recently Cargill announced it is investing in Adelph Farms, also in Israel, to make and market cell-cultured meats.