BlueNalu, the global leader in development of cell-cultured seafood products, has announced the expansion and enhancement of its strategic partnerships. Specifically, three multinational leaders in the Asia-Pacific (APAC) fishing industry: Mitsubishi Corporation, Pulmuone, and Thai Union.
"We are honored to deepen our collaborations with Mitsubishi Corporation, Pulmuone Co. Ltd., and Thai Union, visionary partners who share our commitment to driving innovation and shaping the future of the seafood industry," said Lou Cooperhouse, President and CEO of BlueNalu. "These extended partnerships in the APAC region underscore our dedication to working collaboratively with local experts in each region that we target, and our ultimate goal to provide our customers with healthy and trusted seafood options that have superior product benefits and align with evolving market conditions."
These agreements aim to facilitate the planned introduction of BlueNalu products. To achieve this, expanded collaborations include separate Memorandums of Understanding (MOUs) with Mitsubishi Corporation in Japan, Pulmuone Co. Ltd. in South Korea, and Thai Union in Thailand, each of which possesses a rich legacy and a strong presence in the global fishing sector.
Through these strategic alliances, the company wants to focus on three aspects. The first involves conducting comprehensive market research to understand consumer preferences, emerging trends, and evolving market dynamics. Secondly, efforts will be made to identify and comprehend the unique regulatory requirements of each market, expediting the approval and certification process necessary for the distribution of BlueNalu products. Lastly, strategies for market entry, distribution, and supply chain management will be developed to introduce the products to consumers, restaurants, and retailers throughout the APAC region.
Furthermore, one notable aspect highlighted by the company is that these agreements are not entirely new. The renewed collaborations, which commenced with Pulmuone Co. Ltd. in 2020 and Mitsubishi Corporation and Thai Union in 2021, reflect a shared interest in marketing cell-cultured seafood products in Asia and a commitment to sustainable fisheries solutions.
As BlueNalu points out, global seafood consumption is at its peak and continues to rise, particularly in Asia, surpassing population growth. Therefore, this challenge represents a pivotal opportunity for the company; as they explain, "the current production of seafood from wild and farm sources cannot keep pace with demand according to the United Nations, which projects that by 2030."
BlueNalu aims to become the world's leading provider of cell-cultured seafood, offering consumers delicious, safe, and sustainable products while preserving ocean health. The company's journey began when its co-founder, Lou Cooperhouse, visited Hawaii, emphasizing the potential for cell-cultured products to revolutionize the global seafood industry. Hawaii's unique location in the biologically diverse Pacific Ocean underscores the importance of this mission.
Mitsubishi Corporation operates as a global integrated business enterprise alongside its extensive network of approximately 1,700 group companies worldwide. With a diverse portfolio spanning 10 Business Groups encompassing industries such as Natural Gas, Industrial Materials, and Urban Development. MC's operations extend beyond traditional trading to encompass project development, production, and manufacturing in partnership with trusted global collaborators.
Thai Union Group PCL is a world-leading seafood producer, offering high-quality and innovative seafood products globally for 46 years. The company, with a global workforce of over 44,000, focuses on sustainability and earns recognition. With its SeaChange® strategy and inclusion, the company is in the Dow Jones Sustainability Indices and FTSE4Good Emerging Index.