Co-investors include Mondelēz International, Barrel Ventures and Regba Group
MISGAV, Israel, Nov. 7, 2022 /PRNewswire/ -- The Trendlines Group Ltd. ("Trendlines") (SGX: 42T) (OTCQX: TRNLY), announced the establishment of Celleste Bio ("Celleste"), a new company focused on producing high value cocoa ingredients using cell culture methods, eliminating the dependence on cultivation of cocoa trees. Celleste's technology will ensure that cocoa yield supply is invariable, not dependent on climate conditions, close to production sites and a final product of superior quality.
Today, the cultivation of cocoa worldwide can lead to sustainability challenges, including risks of deforestation, child labor and higher carbon emissions than other food sources. New technologies that enable production of cocoa ingredients without these risks can help ensure a more sustainable supply of cocoa ingredients, while appealing to consumers' increasing interest in more environmentally friendly food choices. Celleste will make cocoa ingredients from naturally occurring cocoa cells without genetic modification or manipulation.
Celleste received their seed investment from The Trendlines Group, an investment company focused on companies in the agrifood technologies and medtech sectors, Mondelēz International, a global leader in snacking, Barrel Ventures, a US-based seed stage venture fund with experience throughout the food ecosystem, and Regba Group, an Israeli agricultural cooperative. Celleste was founded by four entrepreneurs bringing a wealth of interdisciplinary experience in the agrifood sector, specifically in the cellular biology field: Hanne Volpin, PhD, CTO of Celleste, Avishai Levy, MSc,E., Orna Harel, PhD, and Daphna Michaeli, PhD.
Celleste Co-Founder & CTO Hanne Volpin, PhD, commented, "We want to offer people the pleasure and health that high quality cocoa products provide, while eliminating the challenges of sustainable production that we face in cocoa production today."
Trendlines Agrifood Fund CEO, Nitza Kardish, PhD added, "Trendlines believes that the global need for more sustainable cocoa ingredients today and in the future, represents a tremendous opportunity for all stakeholders."
About The Trendlines Group
Trendlines invests in and incubates innovation-based medtech and agrifood technologies to fulfill its mission to improve the human condition. As intensely hands-on investors, Trendlines is involved in all aspects of its portfolio companies from technology development to business building. Trendlines' shares are traded on the Singapore Stock Exchange (SGX: 42T) and in the United States as an American Depositary Receipt (ADR) on the OTCQX (OTCQX: TRNLY).
Shira Zimmerman, The Trendlines Group
SOURCE The Trendlines Group Ltd.