Protein pioneer: George Peppou

With a focus on luxury, taste, and entirely new meat experiences that sets it apart, Vow is making cultured meat that consumers will crave. Here, CEO & Founder, George Peppou, reveals how the Australian food tech is tackling affordability, building a new protein landscape, and why their vision goes beyond replicating existing meats

In a year that saw USDA clearances for two cultivated meat products in the USA, the cultured meat headline that generated most column inches in 2023 actually emanated far from US shores. In March of last year, before those important green lights for cell-cultivated chicken products from Upside and Good Meat, Australian company, Vow, created a conversation-starting ‘mammoth meatball’. Unveiled to great fanfare at the Rijksmuseum Boerhaave in the Netherlands, that big lump of meat has since become part of the museum’s permanent collection.

The media was extremely quick to pick up on the project. Some articles acknowledged the scientific feat of using DNA sequencing and cell manipulation, while Vow’s stated goal of using the mammoth meatball to highlight the environmental benefits of cultured meat resonated with others. There were even reports of a minor legal dispute over the originality of the mammoth meatball concept. On the whole, the industry saw the mammoth meatball as a positive development for raising awareness, albeit a few had reservations about its focus on the ‘gimmick’ aspect rather than practicality and consumer acceptance.

Naturally, no interview with George Peppou, the CEO & Founder of Vow, can avoid the subject, so perhaps it’s best to get the 4,000-year-old elephant in the room out of the way right at the outset.

“We wanted to spark a ton of dinner table conversations about what people really want meat to be like in the future,” reflects Peppou. “We definitely succeeded, and it got pretty heated at times, which was exactly the point. The funny thing was, a lot of people online were super defensive about our idea, even though it was totally a joke! None of us took it seriously internally. It was kind of a sarcastic way to grab attention and get the conversation started.

“Of course, I knew there’d be pushback from other companies [in the industry],” the Australian pioneer confesses. “The alternative protein world – which we see ourselves as separate from in some ways – has generally played it safe by focusing on the environmental benefits: how it’s more sustainable and ethical. That’s great, but let’s be honest, that’s not what sells products most of the time. So, we saw this as a chance to stand out from the crowd. We weren’t about replacing existing meat with a slightly different version. We wanted to create something entirely new. And I think we did that, even if it ruffled some feathers in the industry.”

Dare to be different

Not following the crowd is at the core of everything Vow does, spearheaded by Peppou himself. But how on earth did he find himself in this field in the first place? “I’ve spent my career in food innovation,” he says. “I started as a chef, then got a degree in biochemistry, and explored different roles. About six years ago, I realized the best way to improve our food system wasn’t to change existing companies, but to create new businesses built on sustainability. So, I started a startup accelerator for ag and food-tech companies.”

Protein production is a major challenge in the food chance, but Peppou found himself distinctly unimpressed with the existing solutions at the time. “Plant-based options, even with fancy fermentation techniques, don’t quite capture the complexity of meat in taste and nutrition. To me, cell-cultured meat seemed the only solution that could replicate the biochemical makeup of animal tissue with a lower environmental impact,” he says. “But everyone was just trying to recreate the same chicken breasts and ground beef we have now. As a meat eater myself, that didn’t excite me. Why would I buy a slightly different version of chicken breast at the supermarket? It wouldn’t be a sustainable change.”

So, Peppou pondered, ‘What if we could create entirely new meat products? Tastier, healthier, more convenient, or cheaper – something that offers more than just a substitute.’ “Nobody seemed to be tackling this problem,” he continues. “Everyone was focused on making the same food in different ways. I wanted to invent entirely new options, food that we can’t even get today.”

Part of that mission also focused on creating meat that meat lovers would crave, not just out of guilt or environmental concerns, but because it’s genuinely better. “But what does ‘better’ mean? It’s all about the experience: taste, texture, how it nourishes your body. We’re talking protein, healthy fats, vitamins and minerals – the stuff that matters. Plus, convenience and format matter, too.”

Peppou says there are two ways to approach this. One is to pick a familiar animal like a chicken, grow its cells in a lab, and try to make it taste exactly like chicken. Maybe tweak the fat content a bit for some extra health benefits. “We went the other way,” he says. “We explored a wide range of animals, looking for what’s easy and affordable to grow. Then, we treat the cells as ingredients, mixing and matching them to create totally new flavor and nutritional profiles. That’s why we’re looking beyond conventional meat. We’re not limited by what already exists: we see these cells as building blocks for entirely new food experiences.”

Startup struggles

It’s hard enough convincing investors to invest in mainstream cell-cultivated products, let alone exotic species. But that wasn’t the only challenge for Peppou and his team in establishing Vow. “In the beginning, everything felt like an uphill battle,” he admits. “Just finding a lab space and recruiting people willing to take a big risk – especially in Australia, where there’s less tolerance for risky ventures – that was super tough. Then, once we tackled the initial technical hurdles and started thinking about scaling up, we hit another snag: the existing supply chain for large-scale cell cultures (used in pharmaceuticals) just wasn’t a good fit for food production. It was too expensive, slow, and risk averse. That was a huge challenge. Today, we’re facing a whole new set of obstacles: developing delicious products, getting them into stores, and introducing them to consumers. This is the third wave of major challenges, I’d say.”

What if we could create entirely new meat products? Tastier, healthier, more convenient, or cheaper – something that offers more than just a substitute

Continuing on that theme of obstacles, the rise of cell-cultivated meat has certainly stirred up some anxieties in the farming community worldwide, some of whom fear it could eventually replace conventionally farmed meat, leading to job losses and economic hardship in rural communities. But the backlash we have seen in some US states and European countries isn’t universal. Some farmers actually see cultivated meat as a potential opportunity to diversify their operations or collaborate with the a industry.

So, what’s the key to avoiding conflict with farmers? “Respect. We don’t badmouth them or try to directly compete with their products,” says Peppou. “Our entire approach is about creating exciting new meat options that complement what farmers already offer. This means two things for us. First, we publicly acknowledge the value of sustainable farming, even though scaling it up can be difficult. Everyone agrees it’s important. Second, we don’t focus on making what farmers already make. By following these principles, we’ve avoided the tension other companies have faced. So far, the relationship with farmers has been pretty collegial, and we hope to keep it that way.”

If you read certain media outlets, though, you wouldn’t think that was the case. Peppou says it’s funny how the US media especially portrays cultured meat. “On one hand, they slam the industry for not scaling up and getting products to market fast enough, while on the other, they paint it as this huge threat to farmers’ livelihoods. It’s almost like they can’t decide which narrative to run. The truth is, I don’t see it as a real threat. It’s more about creating a convenient enemy for political reasons. However, I would be the first to say that I think the rest of the industry hasn’t done itself any favors by making out that farming is the enemy that we need to eliminate – and, in my view, they need to own that and that farmers, or ranchers as they call them there, will and should be part of our food system. By the time cultured meat becomes a meaningful player in the market, I suspect these concerns will be long gone. But it’s vital for us and other companies to be transparent about the risks and incredibly careful about the safety, quality, and integrity of the food we produce. Open and honest communication is key.”

When probed about some cell-cultivated meat companies seemingly revising their scaling strategies in recent months, Peppou doesn’t seem at all surprised. “The reason I founded Vow in the first place was because I looked at the strategy of some of those businesses. Even if you can overcome the technical hurdles and turn chicken cells into really, really tasty chicken meat, you’re then competing in a commodity market against an industrialized and – at least in the USA –directly subsidized industry, in meat producers that are buying subsidized crops. That’s a hard industry to compete with, on any vector. And the one that you have to win on is price, and you have to win on price almost immediately.”

Certainly, investor interest seems to have cooled in companies producing end cultivated meat products, although the same cannot be said for the enablers within the value chain. As far as investment and runway goes, in November 2022, Vow announced it had closed a US$49.2 million Series A round, co-led by Blackbird and Prosperity7 Ventures, with other participants including Toyota Ventures, Square Peg Capital, Peakbridge and Tenacious Ventures.

Pathway to profitability

Given the cost of production and the lack of a consumer market currently, the routes to profitability for companies in this sector seems far from certain, so what makes Vow different when it comes to the business case? How is Peppou and his team going to turn a profit for its investors?

We frequently hold tasting sessions to gather feedback and refine our offerings

“We’re taking a different approach than most cultured meat companies,” he responds. “First, we’ve achieved some of the best production costs in the industry through continuous scaling and process improvements. But our main strategy is to launch with a luxury brand. Think of it like the Tesla Roadster for meat – something new, exclusive, and exciting. Our brand, ‘Forged’, focuses on offering a completely unique food experience, something you can’t find anywhere else. This lets us charge a premium price. By focusing on distinctiveness instead of replicating existing meats, we simplify product development. We don’t need to perfectly match anything as being different is part of the value we offer. This higher price point also means we don’t need to drive our production costs down as much to become profitable. We’re also working on additional things outside our core business to extend our runway, but I can’t share those details yet.”

Everyone knows cultivated meat is a costly business, but Vow is attacking that problem from three main angles: biology, supply chain, and production systems. “In biology, we’re constantly expanding our library of cell types, which includes adding new species, new cell lines, and even improving existing lines for better performance,” Peppou says. “On the supply chain side, we’ve focused on optimizing our purchasing, especially for growth media and other bioreactor consumables. This has been a huge driver of cost reduction. We’ve gotten much better at sourcing and negotiating for these essential materials. Finally, we’re heavily invested in production equipment design. We take a fully vertical approach, designing and building most of our bioreactors in-house. This includes having our own welding team, software engineers for process control, and an automation team to handle everything from valves to instrumentation. By doing it all ourselves, we’ve significantly reduced CapEx and simplified the design. This lowers the cost of building each production line and improves reliability – there are fewer parts that can break down!”

Aside from the environmental and ethical benefits, let’s not forget the pursuit of cultivated meat offers exciting possibilities for healthier and more sustainable protein sources, even venturing beyond replicating traditional cuts of meat. Nutritionally speaking, Peppou believes there are two main things people look for in meat. “We focus on replicating these benefits using cultured cells to create a wide variety of products,” he says. “We identify the key nutrients people get from meat: high protein, iron bioavailability, Omega-3s, and B vitamins. Then we use cultured cells to create products that deliver these nutrients. We’re not limited to just replicating meat shapes. We can make anything from meat-like products to jerky-style snacks or even entirely new formats. Cultured cells can even be used as ingredients in supplements or other foods. The beauty is, we can integrate cultured cells into people’s diets in many ways. We can either create familiar meat-like products for specific occasions, or we can develop completely new formats to address nutritional needs.”

Future in focus

Looking ahead, does Peppou envision cultivated meat fitting into a future where we might redefine what meat is altogether? The beauty of cultured meat, for Vow’s top man, lies in its versatility. “Take a look at Western diets – mince, burgers, sausages are common formats used across countless recipes and meals, both at home and outside. Then there are fillets for slicing and cooking, and whole cuts for various steak experiences. With cultured meat, each of these categories can offer a vast array of sensory experiences and nutritional profiles. Imagine it’s Tuesday night, spaghetti night. At the supermarket, you have beef, which is the flavor you love with spaghetti, and you also have veal and turkey, which are healthier choices but have a mismatched flavor – so you’re stuck between choosing flavor or nutrition. In the future, you might have a cultured meat option that combines the flavor you’re looking for with a range of health benefits you wouldn’t otherwise get, such as Omega-3s and extra protein, all at the same price or lower. The decision is a no-brainer, right? I believe cultured meat won’t be sold as a replacement for animal proteins, but as its own branded category, much like breakfast cereal.”

As we chat, Peppou is still abuzz from the April 2024 news of not only Singapore’s approval for its quail product but its availability in restaurants in the country. As ‘Forged’ is a luxury brand exclusively for high-end restaurants, hotels, and potentially first-class airlines, Peppou says Vow collaborates extensively with chefs throughout the product development process. “We frequently hold tasting sessions to gather feedback and refine our offerings,” he says. “In Singapore, we partnered with renowned chef Ryan Clift and together, we’ve developed and launched products, with Ryan’s team and customers providing valuable insights. Before launch, he tested more than 20 prototypes, including variations of what we ultimately released, and even unique options such as quail with a calamari texture. This rigorous process helps us identify what resonates with the market and what doesn’t.”

Of course, it’s still early days for Peppou and his team, but this is a company bucking the trend. If he could, though, would he have done anything differently? “There are many things,” he says honestly. “Each challenge has been a valuable learning experience. The biggest change I’d make would be prioritizing manufacturing development earlier. We only started focusing on it seriously two years ago, and it’s become a major strength. Having this capability a few years earlier would have informed key technical decisions during our initial development phase.”

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