ECONOMY | Staff Reporter, Singapore

Daily Briefing: US-based Eat Just, Proterra invest $162.85m in local plant-based protein facility; Demand for green bonds remain strong

And SG can be 'a more digital, more resilient advanced manufacturing base': DPM Heng.

From DealStreetAsia:

US-based food manufacturing firm Eat Just and a consortium led by the food and agribusiness-focused investment manager Proterra Investment Partners Asia will invest $162.85m (US$120m) in what will be the first and largest plant-based protein production facility in Singapore.

The consortium will invest up to $135.71m (US$100m), and Eat Just, the company behind the popular plant-based JUST Egg, will invest the balance, according to an announcement on Tuesday.

Eat Just said its local subsidiary, Eat Just Asia, will serve JUST Egg’s manufacturing and distribution partners across Asia.

Upon completion, the factory will generate thousands of metric tonnes of protein, the American company said.

“Future facilities that are envisaged to be built in Asia will follow as the demand for protein in the region increases to hundreds of thousands of tonnes, creating additional jobs and infrastructure,” it added.

Read more here.

From ChannelNewsAsia:

With its lush greenery juxtaposed with sleek metal and glass, the SDE 4 building looks perfectly at home on Instagram.

This new addition to the campus of the National University of Singapore (NUS) is not just a building which some see as attractive; it is also the first net-zero energy building in Singapore that was built from scratch, meaning it is designed to consume only as much energy as it produces.

The 8,588 sq m building is part of NUS’s growing pool of green projects that is designed to be energy efficient and environmentally friendly.

To fund such projects, NUS recently issued its inaugural green bond, a type of financial instrument designed to have environmental or climate-related benefits.

Demand was strong for the 10-year notes, and NUS raised $300m through the issuance.

Read more here.

From ChannelNewsAsia:

Amidst disruptions brought about by the COVID-19 pandemic, Singapore can work towards becoming a “more digital and more resilient advanced manufacturing base in Asia for the world,” said Deputy Prime Minister Heng Swee Keat on 20 October.

The country is committed to developing cutting-edge capabilities in advanced manufacturing, an area that has continued to grow and create new jobs and training opportunities despite pandemic-induced recession, he added.

Speaking at the opening of the Industrial Transformation Asia-Pacific (ITAP) 2020 trade show, Mr Heng said the manufacturing sector in particular is set to see “an increased premium on resilience” as the prolonged coronavirus outbreak prompts companies to rethink their production and supply chains.

There will also be added impetus for the reshoring, regionalisation and diversification of production bases and supply chains.

In addition, the future of manufacturing will be determined by the convergence of digital and other advanced technologies.

Read more here.

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