Quotes from Board Members and Selected Investors participating in January 2021 BlueNalu financing

BlueNalu Board Members

Chris Kerr, Board Member and investor of BlueNalu, and Chief Investment Officer of Unovis/New Crop Capital
“As a long-time investor in food products that can change the world for the better, I’m proud to partner with a team that will revolutionize the seafood industry. The current seafood industry cannot keep up with demand. We are overfishing the oceans, killing billions of fish each year, risking the lives of fishermen and damaging delicate ecosystems in the process. BlueNalu will bring delicious and healthy cell-based seafood to consumers around the world while preserving our environment, honoring animal welfare, and protecting people.”

Chuck Laue, Board Member and investor of BlueNalu, and Founder/Chair of Stray Dog Capital
“The BlueNalu team has done a stellar job with each step of the growth process. They have assembled a highly capable and mission-driven team with experience in myriad disciplines, and they are going to change the way the world consumes seafood. They are using science, technology, engineering and innovation to protect our planet. I’m excited and honored to participate in such an important venture.”

Lead Investor

Alex Ruimy, Managing Partner at Rage Capital
“BlueNalu’s technology is the next phase in the continuous agricultural revolution. What the team has built, and continues to build, promises to change the way we source and eat fish. We are extremely excited to back a best-in-class management team on a mission that can truly change the world.”

Significant Participants

Thiraphong Chansiri, President and CEO of Thai Union  
“Thai Union is an industry leader in innovation and sustainability, and cell-based seafood perfectly aligns with both of these goals. BlueNalu and its experienced team is at the forefront of cell-based seafood technology, with strong process capabilities to scale-up seafood in a sustainable manner. We are excited to work with them and look forward to exploring collaboration opportunities.”

Steven Finn, co-founder and General Partner of Siddhi Capital 
“Siddhi Capital is thrilled to deepen our relationship with BlueNalu. The scale of the opportunity is overwhelming, the time is now, and this new financing will significantly push the company forward in their truly unique approach to creating an all new seafood supply chain that is better for consumers and the environment."

Dinsh Guzdar, Managing Director Rich Products Corporate Venture Fund
“We’re excited to continue backing BlueNalu as they finalize their pilot manufacturing facility for cell-based seafood. Their executive team has impressed us with the speed by which their process moves forward, with quality and safety at the forefront of what they’re doing. Consumers should be excited to see what’s to come in the months ahead.”

Kirk Haney, Managing Partner, Radicle Growth 
“After reviewing the technologies from protein innovators across the globe last Fall with Syngenta as part of the Radicle Protein Challenge by Syngenta, we were extremely impressed with BlueNalu, Inc.'s novel approach to developing seafood products directly from fish cells in order to help our supply chain keep pace with seafood demand and changing consumer preferences. This is why BlueNalu was named one of the Challenge winners from a record number of applicants from across the world.  This investment further validates the cell-based seafood space, the strength of BlueNalu's solutions and team, and will help BlueNalu achieve all of the milestones required to chart to market launch this year. We are humbled to have such an impressive company in our portfolio and look forward to working together in this extremely exciting year for the company." 

Henry McGovern, Partner, McWin 
"As food operators with decades of experience in the hospitality sector, we have no doubt that emerging food technologies will revolutionize the way we meet the rapidly growing global demand for protein. We believe that cell-based meats will topple the paradigms of protein production at the most fundamental levels, and that BlueNalu will someday be a case study of a company that contributed to building a healthier, greener, and more ethical world, while also producing outsized returns for impact investors.”

Jim Mellon, Director and principal shareholder of Agronomics
“BlueNalu, with this landmark financing, has once again demonstrated that a good idea, a seasoned management team and clever science can combine to create something remarkable. The speed and adroitness with which Lou and his team have executed thus far is to be applauded, and we at Agronomics are very pleased to be investors and thought partners with the world’s leading seafood cell-agriculture company. BlueNalu features heavily in my new book, Moo’s Law, as an exemplar for the cell-ag space.”

Larry Page, Managing Director, Lewis & Clark AgriFood
“Lewis & Clark is proud to partner with BlueNalu in the next phase of the company's growth. We have looked at a wide variety of companies in the cellular agriculture industry, and find BlueNalu differentiated in two key areas. First, their early focus on ocean-going finfish that have to date proven difficult to farm means that they are creating a product whose alternative must be harvested from the wild. Second, the team has a great set of technical leaders, and BlueNalu has a unique COGS-reduction strategy that should enable them to get to scale very quickly."

HRH Prince Khaled bin Alwaleed bin Talal Al Saud, founder and CEO, KBW Ventures
“We have increased our stake in BlueNalu by investing for the second time. Our commitment to inject further capital is based on the company’s impressive forward roadmap, detailing a clear path to ramping up production and bringing its first product to market. KBW Ventures is pleased to play a role in the largest financing ever for a cell-based seafood company, aligning ourselves with mission-driven businesses that seek to solve the world’s food security issues sustainably.”