Courtesy of New Age Eats
new age eats sausage cooking

Cultivated Meat Startup New Age Eats Shuts Down

March 31, 2023
Company founder and CEO cited changes in capital markets as the final straw for the startup that had put its facility up for sale in January.

According to a LinkedIn post by founder and CEO Brian Spears, cultivated meat processor New Age Eats has shut down, citing an inability to attract enough investment interest to fund operations.

Spears took responsibility for the closure, mentioning that the company “had no blueprint to develop and commercialize cultivated meat” when it started approximately five years ago. Without revenue during the startup phase, since New Age Eats didn’t have a product to sell yet, recent turmoil in the capital markets sealed the company’s fate.

In January, the company put its nearly completed pilot manufacturing facility in Alameda, Calif., up for sale unexpectedly, stating at the time that “plans change in startup land,” which forced the company to walk away from the significant investment.

About the Author

Andy Hanacek | Senior Editor

Andy Hanacek has covered meat, poultry, bakery and snack foods as a B2B editor for nearly 20 years, and has toured hundreds of processing plants and food companies, sharing stories of innovation and technological advancement throughout the food supply chain. In 2018, he won a Folio:Eddie Award for his unique "From the Editor's Desk" video blogs, and he has brought home additional awards from Folio and ASBPE over the years. In addition, Hanacek led the Meat Industry Hall of Fame for several years and was vice president of communications for We R Food Safety, a food safety software and consulting company.

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