A US fake meat company has announced it will reach price parity with conventional meat by 2026.
The startling claim was made by San Francisco-based cultured meat startup Orbillion.
Cultured meat is produced in a lab from the cells of real animals.
Orbillion says parity with premium meats is its first target, before bringing costs down as production can be scaled further.
The startup has already raised $9.5 million to prepare for market.
Orbillion says its first commercial product will be a replicated Japanese-bred Wagyu beef.
The company claims it can work faster and cheaper than other fake meat companies and has quickly developed three types of fake meat prototypes.
Orbillion co-founder Patricia Bubner said they knew from extensive research around the globe, that price is key to making its products more accepted.
"I'm so proud of the team that in less than one year, we've reduced the cost of production by 98 per cent," she said.
MORE READING: Companies race to mimic animal fats.
Orbillion claims to be able to better choose the animal cells most suitable for scaled food production
The company claims to one of the very few looking to replicate Wagyu beef in the lab.
Other companies like Hong Kong's Alt Farm has revealed plans to launch its 3D printed plant-based Wagyu in 2023.
A combination of soy, pea and algae protein is currently being tested, with first prototypes anticipated to debut next year.
Canada's Top Tier Foods is also producing vegan Wagyu steak via its Wamamae Foods subsidiary.
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