Marine Innovation Signs Memorandum of Understanding with Cultured Meat Specialist Seaweed
SK Innovation-supported social venture Marine Innovation is engaging in mutual cooperation with a company possessing seaweed processing technology. Marine Innovation announced that on the 22nd, it signed a Memorandum of Understanding (MOU) with SeaWITH, a seaweed-based cultured meat specialist company.
SeaWITH has developed a scaffold that cultivates animal cells using seaweed and is currently promoting commercialization. This technology has the advantage of producing edible alternative meat without slaughter. However, since only specific parts of the seaweed are used, byproducts have been discarded. According to Marine Innovation, through this collaboration, 100% utilization of seaweed resources will become possible.
Marine Innovation CEO Cha Wan-young (wearing blue) and Seaweed CEO Lee Hee-jae signed a "Strategic Business Agreement for 100% Utilization of Seaweed" on the 22nd. Photo by SK Innovation
Marine Innovation has developed and completed commercialization of a plastic alternative material using the fiber part of seaweed byproducts. Currently, paper, food containers, packaging containers, and stationery products made from this material are being produced and sold. Therefore, Marine Innovation explains that by establishing a single process through cooperation between the two companies, not only can seaweed resources be fully utilized, but price competitiveness through mass production can also be achieved.
Cha Wanyoung, CEO of Marine Innovation, stated, "Seaweed holds potential to contribute to marine ecosystem restoration and carbon capture but has not been sufficiently utilized. Since the two companies have secured the industrial usefulness of seaweed in different directions through long-term research, we will work together toward the common goal of 100% utilization of seaweed resources."
Meanwhile, Marine Innovation announced that it will attend a major global event as a Korean representative in recognition of its achievements. Marine Innovation is scheduled to participate as a Korean representative company selected by the Korea-Africa Foundation at 'GITEX Africa Morocco 2023,' a global tech event held in Morocco for three days starting on the 31st.
Additionally, it will attend 'Viva Technology 2023,' Europe’s largest startup event held in Paris, France, starting on the 14th of next month, also as a Korean representative. CEO Cha said, "Viva Technology will be a great opportunity to introduce our technology and product solutions to Europe, which is struggling with seaweed processing. Through this event, we will accelerate our long-prepared localization in Europe."
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