BlueNalu announced a collaboration with l FOOD & LIFE COMPANIES Ltd. As a Japanese foodservice leader, FOOD & LIFE COMPANIES (F&LC) operates brands such as Sushiro and Kyotaru and over 1,000 restaurants across Japan, Korea, Taiwan, Hong Kong, Singapore, Thailand and Mainland China. The agreement focuses on developing a supply-chain solution for bluefin tuna and other sushi-grade products for the multinational sushi restaurant operator in the Asia-Pacific region, where seafood consumption is highest. The companies plan to collaborate on product development and marketing as well as support of a regulatory framework to accelerate BlueNalu's commercialization in Japan.

BlueNalu and F&LC will focus on the belly portion of bluefin tuna, called toro, as an initial commercial product. Bluefin tuna is a prized species in Japan, where an estimated 80% of the global supply is consumed, and commands premium pricing for its delicious flavor and unique sensory characteristics. Global seafood consumption is at an all-time high and continues to increase, particularly in Asia.

The United Nations projects global population and consumption growth will require 28 million metric tons of new seafood production by 2030. In addition to wild-caught and farm-raised seafood, cell-cultured seafood is seen as a third production method that can help meet that demand. This announcement with F&LC follows additional collaborations announced earlier by BlueNalu, including agreements with Pulmuone Co.

Ltd. in South Korea, Sumitomo Corporation and Mitsubishi Corporation in Japan, Thai Union in Thailand and Nomad Foods in Europe. BlueNalu's business strategy is to partner with leading multinational companies on market research, regulatory affairs, product design and development, manufacturing, marketing, sales and distribution, with an aim to efficiently and effectively bring BlueNalu's branded cell-cultured seafood products to consumers worldwide.