German Bioengineering Company Invests in Toronto Region Manufacturing Facility & Innovation Hub
The Cultivated B. (TCB), a bioengineering company that provides access to plant-based and cell-based alternative protein sources, today announces the opening of its Canadian manufacturing facility and innovation hub in Burlington, Ontario. The new manufacturing facility is 130,000 square feet, covering three floors. With a budget of over $50 million to invest in this facility, TCB estimates it will have over two hundred employees within Canada in the next year.
The facility will develop and produce bioreactors up to 25,000L, as well as photobioreactors and high-precision devices for cellular agriculture and precision fermentation. This will enable other businesses to produce alternative proteins at an industrial scale, ranging from cultivated meat to pharmaceuticals to cosmetic products. The Toronto Region is home to one of North America’s largest food and beverage clusters, processing 2 billion pounds of produce and generating $41 billion annually. This facility will forge new opportunities for sector partnerships in the cluster with TCB leading the way in the cellular agriculture industry.
In its expansion to the Toronto Region, TCB has been working closely with Toronto Global, a team of experienced advisors assisting international businesses in expanding into the Toronto Region, in partnership with Invest in Canada, Halton Region, and the City of Burlington Economic Development.
With the backdrop of supporting TCB’s major investment announcement in Halton Region, Toronto Global is proud to release its 2021/2022 Annual Report. Since launch in 2017, Toronto Global has generated an estimated $580M CAD in tax revenue for Municipal, Provincial and Federal governments, representing an unprecedented return on investment for all levels of government. The organization has also landed 202 investment projects, creating over 12,000 jobs in the Toronto Region.
In 2021/22 alone, we facilitated the creation of almost 2,500 direct new jobs and almost 3,500 indirect jobs in the Toronto Region, and almost 40 per cent of those jobs were created by companies locating in the 905. This reflects a trend in the last few years that puts quality of life and hybrid work options at the centre of decision making, affording more opportunities for investments across the region.
Alongside this opening, TCB is implementing the necessary infrastructure to scale up cellular agriculture production through a strategic partnership with Ontario Genomics, a not-for-profit organization funded by the Ontario government and Genome Canada. Please find more information on this partnership here.
Quotes
“Alongside the development and production of pioneering technology and bioreactors, we want to help shape the landscape for cellular agriculture in the country and fill a major gap that we saw,” says Hamid R. Noori, Co-Founder and Co-CEO of The Cultivated B. “We have aligned our goals with industry partners, government entities, and regional and municipal economic development offices, such as Toronto Global. I look forward to seeing how we will drive forward biotechnology innovation together.”
“As one of the largest food and beverage ecosystems in North America, the Toronto Region is the ideal environment for nurturing talent to power the cellular agriculture and pharmaceutical industry forward,” says Stephen Lund, CEO, Toronto Global.
“At Toronto Global, we are passionate about advocating for our strong and diverse region. This investment comes from a stellar year of our team’s hard work in bringing an extraordinary number of new jobs to the Toronto Region. TCB has recognized the immense opportunity in our region on the world stage, and we are proud to partner with them to support the advancement of future-forward innovation.”
“The Cultivated’s B’s investment and new manufacturing facility are game-changing for people in Burlington and the surrounding region,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “This expansion will create more good-paying jobs, boost the local economy and pave the way for future innovation in our province. Thank you for choosing Ontario.”
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About Cultivated Toronto Global
Toronto Global’s team of experienced business advisors works to help international companies access the most dynamic and innovative region in the world. We actively seek global companies interested in expanding to the Toronto Region and connect investors with the right opportunities that will facilitate the successful growth of their business.
As an arms-length organization representing the Cities of Mississauga, Brampton and Toronto, and the Regional Municipalities of Durham, York, and Halton, we work with our partners in the Ontario and Canadian governments to provide a comprehensive, customized service that allows for a smooth transition for international companies wishing to do business here. Toronto Global is dedicated to understanding our clients’ business needs and delivering tailored, innovative solutions that will set the stage for their success in the Toronto Region.
Media Contacts
Erika Lewis
Senior Communications Specialist, Toronto Global
416-271-2641
[email protected]