BlueNalu, a food technology company developing cell-based seafood products, has announced the signing of a Memorandum of Understanding (MOU) with Pulmuone, a maker of healthy and environmentally friendly food products headquartered in South Korea. Pulmuone also participated in BlueNalu’s A round of financing, which was announced earlier this year.
The agreement marks the beginning of the first collaboration for BlueNalu in South Korea and represents Pulmuone’s interest in the commercialization of cell-based seafood products. The companies will collaborate in areas such as marketing, regulatory, operations, and distribution with an aim to bring BlueNalu’s products to markets in South Korea during the coming years.
Global demand for seafood is at an all-time high and continues to increase, particularly in Asia, where the two companies believe cell-based seafood can supplement the current supply of wild-caught and farm-raised fish. BlueNalu’s cellular aquaculture technology will allow it to produce a wide array of seafood products from a variety of species, without genetic modification, and will be free of microplastics, toxins, mercury, and other environmental contaminants.
“This agreement with Pulmuone represents our shared values and respect for healthy families, a healthy ocean, and a healthy planet,” stated Lou Cooperhouse, president and CEO of BlueNalu, in a press release. “We plan to launch BlueNalu cell-based seafood products initially in the United States, but we also recognize there is significant and increasing market demand for high-quality seafood in South Korea, while supply becomes increasingly vulnerable and potentially contaminated with microplastics, mercury, and environmental pollutants. Partnerships are critical for our success and we are proud to partner with Pulmuone.”
Pulmuone has a 35-year history in the health and wellness market, providing food products that are sustainably and responsibly sourced.