GAAP is a partnership between Ag-West Bio, the Global Institute for Food Security, and Innovation Saskatchewan.
Global Agri-Food Advancement Partnership (GAAP) has closed an undisclosed investment fund with an Argentina-based biotech startup Ergo Bioscience (ERGO) that produces complex animal proteins through plant cell cultivation for use in plant-based meat and dairy products. ERGO’s precision fermentation technology can produce high-value compounds, using less land, water, and other resources than traditional agriculture systems.
This investment will support the expansion of the company’s operations into North America, with GAAP housing ERGO in its Saskatoon labs in the coming months. will give Saskatchewan a leading edge in the precision fermentation sector.
Kari Harvey, CEO of Innovation Saskatchewan, says “Enticing ERGO to Saskatchewan is particularly exciting, as it leverages the province’s robust infrastructure and significant investments. Saskatchewan is already a global leader in agriculture, and our growing agri-food sector stands as a testament to that leadership and innovation.”
CEO of GAAP, Jay Robinson, says “ERGO is a great example of how GAAP’s programming and offerings serve as an effective foreign direct investment vehicle, harnessing the strengths of Saskatchewan and Canada and matching them with GAAP’s sector specific expertise and experience. GAAP was excited to host ERGO in 2023 as a participant in Navigate and we are now thrilled to officially welcome them to the GAAP portfolio as they expand in Saskatchewan through our incubator.”
Robinson notes that this investment underscores GAAP’s commitment to advancing food technology and sustainability. “This funding will empower ERGO to innovate further, enhancing their solutions, and ultimately supporting food producers in meeting the growing global demand for food. By leveraging cutting-edge technology, GAAP aims to transform the food landscape and drive positive change for both producers and consumers alike.”
Barbarini says, “This investment marks the opening of our offices and R&D capabilities in Canada. Being equipped with state-of-the-art technology for the development of cell lines will allow us to accelerate project execution times and significantly expand our capabilities. The vision and expertise of the GAAP management team were instrumental in our strategic decision.”
