Leading cultivated fish company Avant announces new R&D and pilot manufacturing facilities plan in Singapore

Avant will operate in Singapore and Hong Kong

Avant, the first cultivated meat company in China and the first cultivated fish company in Asia, announced today it is establishing new Research & Development (“R&D”) and pilot manufacturing facilities plan in Singapore, with the support of the Singapore Economic Development Board (“EDB”). The new facilities will be supplemented by existing operations in Greater China. Avant will recruit local talents as part of its expansion.

Carrie Chan, Co-founder and CEO, Avant notes, “Avant has grown its presence in strategic locations
in Asia to optimize its market access, technology ecosystem, and funding opportunities. Singapore
provides Avant with regulatory clarity, international talents, and sufficient space for the next step of scaling

“Avant is an example of an alternative protein company which has tapped into the eco-system
opportunities in Singapore to bring innovative products to market and capture growth opportunities in
Asia.” said Damian Chan, Executive Vice President, Singapore EDB. “We welcome their expansion
here and will continue to work with companies to leverage Singapore to enable innovations in sustainable
Agri-Food technologies.”

Asia Pacific dominates the global fish and seafood markets at US$60.5 billion in 20182 and Asia is
projected to account for 71% of the additional fish consumed by 2028. The expansion represents an
important milestone of Avant’s pan-Asia strategy.

Singapore’s ‘30 by 30’ national food security policy targets to produce 30% of the nation’s nutritional
needs locally by 2030, with less than 1% of land designated for agriculture. Singapore is the only country
with a regulatory precedent for approving the sale of cell-cultured meats.

About Avant 

Avant Proteins Pte Ltd and Avant Meats Co Ltd (together, “Avant”) is the first cultivated meat company
in China and the first cultivated fish company in Asia. The company offers an end-to-end technology
platform, including cell line, culture medium, scaffolding, and bioprocess development, to produce fish
proteins directly from fish cells. Avant aims to be a global leader in producing traceable and sustainably
cultivated proteins in a fully contained environment for food, skincare, and functional applications.

Founded in 2018, Avant now has presences in Singapore, and Greater China. Avant has also been
named on CleanTech Group’s 2020 APAC 25 list of most innovative sustainable companies and featured
in Reuters, Forbes, The Telegraph, South China Morning Post, and CCTV

To learn more about Avant, please visit www.avantmeats.com.