$CULT Completes Investment In Cell-Based Chocolate Innovator Lab-grown and cell-cultured foods investment platform CULT Food Science $CULT $CULT.C has completed a strategic investment into leading cell-based chocolate innovator, California Cultured.
Based in Davis, California, California Cultured uses cell culture technology to produce cocoa products like cocoa powder, chocolate, and cocoa butter with the goal of creating sustainable and ethical chocolate for consumption around the world.
Two major concerns surround the production of chocolate – child labor on cocoa farms and deforestation. The chocolate industry is currently worth over USD 100 billion and relies on cocoa farmers to continue producing cocoa at a rapid pace. On average, cocoa farmers earn below-poverty wages, which motivates them to seek the employment of children who receive little or no compensation.
Regarding the second concern, the production of cocoa often relies on monoculture growth, which leads to complete deforestation on cocoa farms resulting in the loss of primate populations in many West African countries where most of the cocoa farming is done.
Investment into California Cultured works towards CULT’s goals of providing sustainable, environmental, and ethically minded solutions for the food production industry.
Shares of $CULT are currently trading near all-time highs at $.29, up 37.51% from recent all-time lows. The company is currently valued at a market cap of $41.79 million.
https://ceo.ca/@newswire/cult-food-science-completes-strategic-investment-into