FPP Amsterdam 2024 Speaker Spotlight: Lou Cooperhouse, Founder, President & CEO, BlueNalu

Cultivated seafood specialist Lou Cooperhouse, one of +100 speakers at The Future of Protein Production Amsterdam on 23/24 October, explains why embracing partnerships and a more collaborative approach can deliver enormous strategic gains without compromising IP

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Throughout his 40-year career in the food industry, Lou Cooperhouse has recognized that teaming up with other likeminded individuals and organizations can help foster huge commercial success. It’s an approach he’s continued to champion in his role as Founder, President & CEO of cellular aquaculture firm, BlueNalu. “Our business strategy has always centered upon open innovation and global partnerships,” he explains. “As pioneers creating a new category of food that has tremendous market potential, we recognized early on that success hinges on identifying and integrating strategic collaborations with industry partners, as we simply could not accomplish all that was needed alone. These partnerships are invaluable, but only when both organizations can mutually support each other, leading to long-term synergies.”

We have developed all our core technologies internally, making them proprietary. As a private company, we have a responsibility to safeguard our IP, which protects the interests of our investors

Ironing out those kinks in terms of mutual support is significant for such a high-tech yet still relatively new sector as cultivated seafood. Startups must walk a tightrope between embracing the partnerships that may enable swifter commercialization and protecting their extremely precious intellectual property (IP). “It is important to distinguish between the broader industry collaborations that we are developing, and the proprietary technologies we create specifically for our company,” states the food-tech expert. “At BlueNalu, we also recognized when we first started the company that the technologies required to be successful in the development, scalability, and commercialization of cell-cultured seafood were essentially non-existent. As a result, we have developed all our core technologies internally, making them proprietary. As a private company, we have a responsibility to safeguard our IP, which protects the interests of our investors.”

BlueNalu is a fine example of a company that has balanced the need to keep its unique technologies close to its chest while also adopting a successful collaborative approach. Cooperhouse reports that the company is pleased to have made substantial contributions to the industry as a whole, and says it actively engages in collaborative efforts to advance the overall progress that will benefit all players. “For example, we sponsored research on nomenclature for our products, which was published in the Journal of Food Science," he says. "Additionally, we have released two white papers detailing our business strategy focused on bluefin tuna and summarizing the extensive market research we have conducted. Recently, we shared market research on seafood and sushi perceptions with our colleagues in the conventional seafood sector through our membership in the National Fisheries Institute, and as part of their inaugural Sushi Council. Our commitment to collaboration and transparency remains steadfast as we continue to contribute to the growth and evolution of our industry.”

Fishing expedition‍

Beyond collaborating for the greater good, BlueNalu has also forged an impressive number of partnerships designed to get its seafood onto dinner plates faster. “We have engaged with more than 10 strategic partners to date, and many of these organizations have also participated as investors in BlueNalu,” reveals Cooperhouse. And which of those partnerships has proved most beneficial from a commercial perspective? “No singular organization can be ‘most’ valuable, as each was selected to address specific areas critical to our success,” answers a diplomatic Cooperhouse. “Our approach is deeply rooted in fostering meaningful relationships where every partnership adds substantial value to each organization’s strategic objectives and acts as a win-win for both parties.”

Cooperhouse describes BlueNalu’s ongoing collaboration with Nutreco, an expert in animal nutrition and aquafeed, as a prime example of a productive partnership. “Nutreco has recently announced the launch of the world’s first dedicated food-grade powder production facility, committed to supply raw materials specifically for the cell-cultured meat, poultry and seafood industry," he observes. "This initiative will considerably enhance our industry’s supply chain capabilities and provide BlueNalu with many of the product specifications needed for regulatory approval and product commercialization. This partnership underscores the critical role of strategic alliances in driving our progress and highlights the synergy between our goals and those of our partners.”

As the marketplace for seafood is quite localized and fragmented, we plan to establish local or regional partnerships in each market we enter

Taking this ‘bigger picture’ approach and joining forces with other players has served Cooperhouse well so far, and he reports that BlueNalu is poised for major advancements and expansion. He says the firm’s focus now is on connecting with global consumers and “enhancing their experiences with sushi and seafood in general”. And the same approach will be deployed for this task, too. “As we move forward, our scaleup journey will require us to secure additional partnerships, particularly in areas of commercialization, along with joint ventures that support our longer-term interest in large-scale manufacturing, sales and distribution,” he explains.

“As the marketplace for seafood is quite localized and fragmented, we also plan to establish local or regional partnerships in each market we enter," he continues. "Our regulatory strategy encompasses a global approach, with efforts focused on securing approvals in the US, and in specific targeted regions we have identified within Asia, Europe, and the Middle East. Ultimately, we are looking to leverage our technology to offer delicious bluefin tuna in markets where it has previously been unavailable or limited in supply, furthering our mission to bring delicious seafood options to the world.”

Beyond BlueNalu

Given his vast industry experience, it would be remiss not to ask Cooperhouse for his thoughts on the industry as a whole. “The cultivated meat, poultry, and seafood industry has made extraordinary advancements in a very short amount of time,” he believes. “It is critically important to communicate that the knowledge needed for the development and large-scale commercialization in this category was virtually non-existent just a decade ago; there was no regulatory pathway in existence worldwide until just a few years ago, while the consumer education that is needed has only just begun. Despite this progress, and perhaps because of our rapid accomplishments, the industry has faced increased scrutiny from certain industry groups.

“As we advance further over the coming years and the unique benefits of cultivated meat, poultry, and seafood become more apparent, we are quite confident that this industry will make great progress," he predicts. "However, it is conceivable that not all companies will be successful in this category, due to lack of funding in this challenging economic climate. It is crucial to understand that every company in our sector is actively pursuing innovative solutions to feed the future.”

Investors are seeking companies with innovative solutions that address significant market needs and effectively solve real problems

Cooperhouse points out that BlueNalu is strategically focused on seafood because its research has validated it as the most promising category for the company’s technology, offering a higher-value opportunity where its cultivated products can make a significant impact in the market and for the planet. “We’re not aiming to replace traditional seafood but to complement it, addressing growing demand,” Cooperhouse insists. “In fact, global demand for seafood is at an all-time high, growing at an average annual rate of 7% over the past decade, with consumption rates continuing to outpace population growth, a trend that shows no signs of slowing down. Additionally, there are no longer ‘plenty of fish in the sea’, as 90% of global marine fish stocks are fully exploited or overfished, and our global supply chain of seafood is extremely volatile and vulnerable to a number of environmental factors. By innovating within this sector, we aim to create a more sustainable and resilient seafood supply.”

Delicious differentiation

Cooperhouse touched on the tricky subject of funding above and he acknowledges that navigating the current funding landscape can be challenging for startups. But the business-world veteran is adamant that a strong enough play on the product side will still be rewarded on the financial side. “Entrepreneurs in this space need to build a strong value proposition by articulating their unique business differentiation, demonstrating their market strategy and consumer excitement, and validating technologies that enable scalability and profitability,” Cooperhouse advises. “Investors are seeking companies with innovative solutions that address significant market needs and effectively solve real problems. In the food industry, it’s absolutely essential to create a delicious product that consumers will enjoy, that ideally is a superior offering to what may otherwise be available.”

Lou will be giving his presentation, Cultivating success: strategic partnerships and open innovation in the future of meat and seafood, on 23 October 2024 at The Future of Protein Production Amsterdam. Book your place today to hear another 100 speakers, network with +400 industry leaders, and visit the exhibition stands of more than 40 participating companies.