TORONTO, - CULT Food Science Corp. ("CULT" or the "Company") (CSE: CULT) (OTC: CULTF) (FRA: LN0), an innovative investment platform with an exclusive focus on cellular agriculture that is advancing the development of novel technologies to provide a sustainable, environmental, and ethical solution to the global factory farming and aquaculture crises, applauds the United States Presidential Executive Order on Advancing Biotechnology and Biomanufacturing Innovation for Sustainable, Safe, and Secure American Bioeconomy (the "Executive Order") that was published on September 12, 2022.
The Executive Order details many responsibilities that must be upheld by the Government of the United States to improve biotechnology and create a safe, sustainable and secure food economy. As per the Executive Order, the Secretary of Agriculture, in consultation with the heads of appropriate agencies, shall submit a report assessing how to use biotechnology and biomanufacturing for food and agriculture innovation, including by:
- Improving sustainability and land conservation;
- Increasing food quality and nutrition;
- Increasing and protecting agricultural yields;
- Protecting against plant and animal pests and diseases; and
- cultivating alternative food sources.1
In 2020, an estimated 1 in 8 Americans were found to experience food insecurity, equating to over 38 million Americans, including almost 12 million children.2 Therefore, it is now more critical than ever to enact orders and pass laws that provides citizens with a more sustainable and secure food system. Food insecurity is a worldwide problem in need of a large-scale solution. The CULT team believes that cellular agriculture is key to that solution and that the Executive Order is a step in the right direction.
To date, CULT has invested in a multiple US-based cellular agriculture companies including, but not limited to:
- California Cultured, a biotech company focused on producing cell-based chocolate, based in California;
- Pearlita Foods, a biotech company focused on cultivating alternative oysters, based in North Carolina;
- Novel Farms Inc., a biotech company dedicated to creating alternative meats, based in California;
- Jellatech, a biotech company focused on developing animal free gelatin and collagen, based in North Carolina;
- MeliBio, a biotech company that aims to create honey without bees, based in California; and
- Compound Foods, a biotech company creating coffee, based in California.
Source : Newswire.ca