According to Cult Food Science, the Royal Bank of Canada has identified cellular agriculture as one of the top technologies to help transform Canada into a low carbon agriculture producer. Canada’s agriculture and food industries currently produce approximately 10% of the annual national greenhouse gas emissions, which is roughly 93 megatonnes. Investing in new technologies could help reduce emissions from these sectors by up to 40%. However, the Royal Bank says investment by private equity and venture capital in Canada’s cellular agriculture and food industries is currently lower than it needs to be – US$91 million compared to more than $7 billion globally – if Canada is to be competitive worldwide in this market.
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