South Korea’s leading cultivated meat company, Simple Planet, says it thrives on “leading the cell-based foods industry by reshaping food production platforms for the next generations”. Founded in 2022, the company has developed specialized cell lines from beef, pork, seafood, and chicken, and focuses on induced pluripotent stem cells “as an unlimited cell source for cell-based foods”.
Simple Planet’s products include a high protein cultivated meat powder, animal fat paste, and customizable raw materials.
After raising $6 million in an oversubscribed pre-series A round this February, Simple Planet was selected to participate in an ₩11 billion national project launched by South Korea’s government to expand the food tech industry, with plans to produce a cultivated fish cake.
We caught up with co-founder & CEO Dominic Jeong, who reveals the company is currently in the process of preparing a dossier for regulatory approval in Korea.
Why focus on cultivated ingredients for the food industry? Do you consider plant ingredients fail to deliver what meat eaters love, or are you going beyond, looking at overall sustainability?According to the Food and Agriculture Organization of the United Nations, the land used for livestock farming totals 40 million square kilometers accounting for 83% of the world’s total agricultural land use. The amount of grain used to feed livestock accounts for one-third of global production. In addition, the current food production system can’t meet the increasing demand for meat, along with population growth. Cell-based agriculture technology complements this unstable existing agricultural/livestock system.
It is a way to maintain biodiversity through cell culture and reduce the burden on the Earth through circulation rather than using limited natural resources.
In fact, if you produce 1 ton of SIMPLE Planet’s cell-based protein powder, you can create value such as planting 55,500 trees and reducing carbon dioxide emissions by 16,650 tons, which will also help build a sustainable food supply chain. Additionally, since supply can be maintained stably regardless of environmental changes, it is possible to end hunger and solve problems such as food crises.
© Simple Planet
In addition, when cultivating cells, it is essential to use FBS serum extracted from bovine fetuses. Fetal Bovine Serum (FBS) is literally blood taken from Bovine Fetuses, and 2 million bovine fetuses are being used now annually to obtain this serum. Moreover, FBS is expensive, accounting for more than 80% of the unit cost of cell-based food production. In addition to solving these ethical and environmental issues, we are developing a ‘serum-free edible culture medium’ that can produce cell-based foods more cheaply and safely.
You have cultivated chicken, pork, and beef powders. Tell us about their production and downstream processes. Do you make a meat slurry and then dry it?We have different procedures for isolating specific cells from tissues of different animals.
“…our work supports biodiversity conservation by focusing on the protection, restoration, and sustainable management of both land and sea ecosystems”
After isolation, we proceed with cell expansion and characterization to ensure they meet the required standards for mass production. Then we culture the cells in suspension in large-scale bioreactors for mass production. Upon reaching the desired cell density, they are harvested. These harvested products come in a slurry form, and they would need to be freeze-dried to processed into the powder form. Choosing which type to use between the two depends on the type of application, depending on the product requirements.
Please tell us more about these powders.Our cell-based food ingredients are mainly divided into two categories: protein and fats. They are developed for different applications, primarily focusing on their high nutritional content. Our proteins contain high amino acid content compared to other protein sources, and our fats contain high omega-3 content compared to other fat sources.
The protein powders are intended to enhance the nutritional profile of various food products, including plant-based meats, products for seniors or infants, and formulas for treating malnutrition. These powders are highly absorbable and digestible, making them ideal for incorporation into foods where bioavailability is crucial. On the other hand, our fats are primarily intended as flavor enhancers, particularly in alternative meat products that lack the flavors found in traditional meat. They also contain high unsaturated fatty acid content, providing a healthier option compared to other fats with high saturated fatty acids.
© Simple Planet
You have established cell lines for 13 species, including flatfish. Why so many? Will you launch commercial cell lines for the industry?From the business point of view, we aim to establish various cell lines to achieve a diverse range of products. This diversification allows us to offer a broad spectrum of cell-based food products that meet different market demands in the food industry.
“I will lead discussions with regulatory organizations to find ways to improve policies to revitalize the industry and to build the foundation for the bio-future food industry”
From the ESG point of view, our work supports biodiversity conservation by focusing on the protection, restoration, and sustainable management of both land and sea ecosystems. By developing cell lines from diverse species, we contribute to reducing the pressure on livestock and fish farming and promote sustainable food production.
Tell us about your FBS replacement. Did you develop it in-house? Is it tailored only for beef? If so, with which growth media do you create your other powders?We have developed our proprietary probiotics-based FBS replacement in-house in cooperation with a renowned probiotics company in Korea. In addition to the FBS replacement growth factor, our culture media is also developed in-house. Compared to conventional media, ours is made of 100% food-grade ingredients.
We have developed multiple types of edible media in-house, each customized for different cell types. One type of media is specifically for bovine myoblasts, and we have established that the cost of this media decreases by over 99% compared to using conventional media. Optimization of all media types is in progress to further increase the efficiency and reduce the costs.
Is SIMPLE Planet also collaborating in South Korea’s regulation-free zone for cultivated meat?There are more than 33 companies in Korea, including SIMPLE Planet, cultured meat development companies, and food conglomerates, and it may be difficult to listen to the voices of all companies. Bio-future food companies in Korea are also coming together to communicate more smoothly and respond to the global cultured meat market.
“…we are currently in the process of preparing for a regulatory dossier and conducting safety tests required for regulatory approval in Korea”
In particular, the number of countries that have already approved the sale of cultured meat, such as Singapore, the United States, and Israel, is rapidly increasing, and in response to this, the Bio Future Food Industry Council was launched in Korea in July. As the chairman of the Bio Future Food Industry Council, I will lead discussions with regulatory organizations to find ways to improve policies to revitalize the industry and to build the foundation for the bio-future food industry.*
Are you gearing up to file for regulatory approval of your powders with the Ministry of Food and Drug Safety, aiming to hit the market in Q3 2025?Yes, we are currently in the process of preparing a regulatory dossier and conducting safety tests required for regulatory approval in Korea (Ministry of Food and Drug Safety) and Singapore (Singapore Food Agency). We anticipate completing the process in time to hit the market by Q3 2025.
© Simple Planet
You stated plans to expand and establish branches overseas, including in the US and Singapore. Have you done so? Will you soon seek approval for the Balboa products in those countries?We are currently in the process of establishing subsidiaries in the Southeast Asia region, including Singapore and Thailand. These will be completed by the end of 2024. Branches in the North American region will come afterwards, in the year 2025.
For Balboa, wherever SIMPLE Planet goes, there will be Balboa products. We aim to gain global traction for Balboa products and lay the groundwork for future sales of cell-based food incorporated Balboa products. Since current Balboa products are not cell-based food products, it is easy to get sales approval in foreign countries.
Are you planning on launching cultivated fats as well?Of course. Our cell-based proteins will come out first, but our cell-based fats will definitely be launched. Our fats will be commercialized to enhance the taste of alternative meat products that lack flavor.
How about your scaling plans? You currently work with 1,000 L bioreactors, and an 18,000-square-foot facility boasting bigger bioreactors will open in 2025. Other cultivated meat companies, such as Aleph Farms, UPSIDE Foods, and GOOD Meat, are adopting a light Capex approach. What is your decision to invest in infrastructure?Following up on our expansion plans in the Southeast Asia region, we will have large manufacturing plants to secure our entry into the Asia market and aim for long-term scalability. For this plan, we will indeed set up more large bioreactors to meet growing demands. Our plants will be maintained with strict quality control and be tailored depending on our production needs. We plan to obtain Halal certification for the Asian market, and our manufacturing facilities will be established accordingly with high flexibility.
© Simple Planet
Do you think the Korean government’s support for cultivated meat has helped you thrive?There are various government efforts, such as deregulation, to develop the cultured meat industry and rapidly commercialize it in Korea.
In May, SIMPLE Planet was selected for three national projects, and it is a cultured meat development project conducted by the National Institute of Agricultural Science and Technology Planning and Evaluation, the Korea Institute of Agricultural Science and Technology Promotion, and the Korea Institute of Marine Science and Technology Promotion. It is a KRW 11 billion support project that researches and develops livestock stem cell technology and core cell culture technology, core cell culture technology and cultured meat product development for replacing animal-based raw materials, cell culture and core technology development from aquatic organisms, and high value-added aquatic culture products.
The government’s active investment and support is a catalyst for domestic cultured meat companies to accelerate the development of cutting-edge technologies and commercialization. The government’s continued support and cooperation are playing an essential role in helping Korea’s cultured meat industry grow to a world-class level. And cooperation with SIMPLE Planet and other member companies of the Bio Future Food Industry Council is securing our competitiveness in the global market.
Tell us about investments in cell ag in South Korea. Is the current situation as dire as in the rest of the world? Are you planning funding rounds to support your growth in 2025?Investments in cellular agriculture have been decreasing, similar to trends in the rest of the world. However, our previous record of closing on an oversubscribed $6 million pre-Series A round backs our strong technological foundation and company stability. We are planning a bridge funding round by the end of 2024 to support our global expansion and growth.
* SIMPLE Planet CEO Dominic Jeong was inaugurated as the first chairman of the Bio Future Food Industry Council in July 2024. Participating companies include such startups as Seawith, Dana Green, Cellqua, Space F, Everything But, and Tissen Biopharm, and major food conglomerates such as Daesang, CJ CheilJedang, Sempio Food, HY (formerly Korea Yakult), and Shinsegae Food.
