Season 3, Post 14: Fake steak and test-tube tomatoes - Heptagon Capital – Production

Next week marks the reopening of London’s restaurants – at least for outdoor dining – for the first time since December 2020. Menus will likely be full of the…

Season 3, Post 14: Fake steak and test-tube tomatoes

Next week marks the reopening of London’s restaurants – at least for outdoor dining – for the first time since December 2020. Menus will likely be full of the joys of spring; perhaps an asparagus starter followed by some young lamb. Needless to say, your author already has several reservations in his diary. While not just thinking about upcoming meals, we have read several recent articles that provide interesting insights into what dishes dining venues may be serving in the future.

If burgers from the likes of Beyond and Impossible have already given us a taste for what ‘meat 2.0’ might taste like, then innovation currently underway takes things to a new level. Any company which calls itself Redefine Meat gives you an insight into its level of ambition. If you want your alt-steak to taste like the real thing, then why not try and 3D print it? Redefine Meat has mapped more than 70 different parameters of beef – everything from juiciness to mouthfeel – and is then replicating them on a layer-by-layer basis using 3D printing techniques and plant-based material as the substrate. Another potential palate-whetting approach is that being pursued by SavorEat (coincidentally, both it and Redefine are based in Israel), where a robot chef kitted out with ingredient cartridges can customise your (meat-free) burger for you. It can apparently be 3D-printed and grilled within six minutes.

Many people might consider pairing their steak with a nice ripe tomato (not forgetting the chips, of course). Soon it could be possible to enjoy a ‘super’ tomato which can help lower blood pressure and aid relaxation alongside your redefined steak. Last week saw the release in Japan of what is believed to be the world’s first genome-edited tomato for the consumer market. Pioneered by Sanatech Seed, the tomato (a Sicilian Rouge variety) was developed using CRISPR/Cas9 gene-editing technology. As a consequence, the tomato contains up to five times more gamma-aminobutyric acid than a regular tomato, helping to deliver the aforementioned health benefits. Seeds are being currently distributed on a trial basis.

Although stories such as these naturally attract headlines and the curiosity of both investors and gourmands, a much more serious consideration is also at work. Food innovation is necessary in order to feed a growing population. Forecasts from the United Nations (UN) predict 11.2bn people on the planet by the end of the century versus 7.7bn in 2019. How we feed them against a backdrop of shrinking arable land, growing water shortages and more extreme weather conditions remains an enormous challenge. Bear in mind also the first three Sustainable Development Goals of the UN: no poverty, zero hunger and good health & well-being. Given that the global food market is currently worth over $11tr, the stakes (no pun intended) for disrupting it are undoubtedly high. 

8 April 2021

The above piece does not constitute investment advice and is the sole opinion of the author at the time of publication. Past performance is no guide to future performance and the value of investments and income from them can fall as well as rise.

Alex Gunz, Fund Manager


The document is provided for information purposes only and does not constitute investment advice or any recommendation to buy, or sell or otherwise transact in any investments. The document is not intended to be construed as investment research. The contents of this document are based upon sources of information which Heptagon Capital believes to be reliable. However, except to the extent required by applicable law or regulations, no guarantee, warranty or representation (express or implied) is given as to the accuracy or completeness of this document or its contents and, Heptagon Capital, its affiliate companies and its members, officers, employees, agents and advisors do not accept any liability or responsibility in respect of the information or any views expressed herein. Opinions expressed whether in general or in both on the performance of individual investments and in a wider economic context represent the views of the contributor at the time of preparation. Where this document provides forward-looking statements which are based on relevant reports, current opinions, expectations and projections, actual results could differ materially from those anticipated in such statements. All opinions and estimates included in the document are subject to change without notice and Heptagon Capital is under no obligation to update or revise information contained in the document. Furthermore, Heptagon Capital disclaims any liability for any loss, damage, costs or expenses (including direct, indirect, special and consequential) howsoever arising which any person may suffer or incur as a result of viewing or utilising any information included in this document. 

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