Singapore, 19 May 2021— Renowned international investor Jim Rogers has joined Singapore-based food tech company, Life3 Biotech (Life3) as a member of its Board of Investors.
Rogers, one of the most respected and successful names in international investing, has a more than 50 years record of spotting the next big developments and movements in business and society. He co-founded the legendary Quantum Fund, one of the most successful hedge funds in history, and was one of the first Western investors to get into the China stock market, back in the 1980s. He was also the creator of the Rogers International Commodities Index. Life3 is the first alternative protein company that he is advising.
“The plant-based protein market is a fast-growing industry driven by voracious consumer demand from all around the world,” says Rogers. “And the COVID-19 pandemic has shown us how food supply chains and sources can be threatened by national lockdowns and food protectionism. Now, more than ever, we see the need for non-traditional foods that are sustainable, affordable, storable and transportable.
“I chose Life3 as my first entry into the future foods and alternative protein market for several reasons. I believe in the company’s vision of offering the highest-quality alternative proteins that are sustainable, highly-nutritious and environmentally-sensitive. I was impressed that they are a local start-up with proprietary science-based formulas and technology that were germinated right here at the National University of Singapore’s Food Science and Technology Laboratory. I believe Life3 is at the forefront of agri-food innovation and that they will be a significant force in the regional future food industry.”
Ricky Lin, CEO and Founder of Life3 Biotech, says, “We are honoured and delighted with Jim’s endorsement of Life3 and are very encouraged that he understands and believes in our vision. Life3’s goal is to create a better world through food innovation and I am fortunate to have the support, guidance and wisdom of esteemed business and thought leaders as we move forward. With Jim on board, I am confident that Life3 will be able to scale greater heights with his guidance.”
Life3 is rapidly expanding with its pilot factory to house a processing line that is worth over USD 3 million, capable of producing plant-based protein products of superior quality in terms of nutrition, texture and taste. The company aims to scale-up its award-winning plant-based innovation – Veego, which is made of leguprotein - Life3’s proprietary protein which is extracted from high protein crops such as legumes and microalgae.
Life3 is a fast-growing Singapore start-up with a focus on transforming the global food system by developing new protein sources that are nutrient-dense, with high functionality and digestibility. In December 2020, Life3 launched its first consumer product—Peasy, a meat alternative made primarily from pea protein. This ambient-stable product is low in sodium, rich in iron and vitamin D, which makes it a truly healthier option in the meat alternative market. This innovation will be Life3’s first product to be exported to the overseas market.
Upon completion in the 2nd half of 2021, the pilot facility will provide Life3 with the R&D capability and production capacity to support open innovation amongst the local and global food players in accelerating the growth of the plant-based market.