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May 14, 2019, 8:02 a.m. EDT

Cargill invests in company that grows meat using 3D engineering

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By Tonya Garcia

Cargill announced Tuesday that it's investing in Aleph Farms, which grows meat from beef cells using 3D tissue engineering. The company demonstrated in December 2018 that it could grow a steak from cells. Cargill said it's participating in a round of funding that will be led by VisVires New Protein with the goal of moving the product to the marketplace. Cargill previously invested in Memphis Meats in 2017, another company that's developing cultured meats. Cargill, like other companies, have cited the increasing protein demand and the need to create supply. Newly-public Beyond Meat Inc. /zigman2/quotes/211617595/composite BYND +3.37% and Impossible Foods, which makes the Impossible Burger are also looking to fill the protein void. Impossible Meat announced Monday that it has completed a $300 million round of funding, bringing the total raised to $750 million. Among its investors are Jay-Z, Katy Perry, Jaden Smith and Serena Williams. The Impossible Whopper is coming to the Burger King chain, with the company announcing that it will be available in in Miami, Florida, Columbus, Georgia and Montgomery, Alabama. Burger King is part of the Restaurant Brands International Inc. /zigman2/quotes/202094900/composite QSR +1.03% portfolio of chains. The Invesco Dynamic Food & Beverage ETF /zigman2/quotes/200461180/composite PBJ +0.51% has gained 13.3% for the year to date while the S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.05% is up 12.2% for the period.

/zigman2/quotes/211617595/composite
US : U.S.: Nasdaq
$ 153.82
+5.02 +3.37%
Volume: 8.81M
Sept. 22, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$9.29 billion
Rev. per Employee
N/A
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/zigman2/quotes/202094900/composite
US : U.S.: NYSE
$ 55.17
+0.56 +1.03%
Volume: 1.25M
Sept. 22, 2020 4:00p
P/E Ratio
26.08
Dividend Yield
3.77%
Market Cap
$16.52 billion
Rev. per Employee
$892,833
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/zigman2/quotes/200461180/composite
US : U.S.: NYSE Arca
$ 32.31
+0.16 +0.51%
Volume: 3,056
Sept. 22, 2020 1:47p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,315.57
+34.51 +1.05%
Volume: 2.36B
Sept. 22, 2020 5:07p
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