At UMAMI Bioworks, he said, “We have the tech, but we have to partner with food companies who generate a lot of cash that can be turned into capex investments in future production capacity. It’s also much easier for me to get traditional bank debt financing for a factory if there’s an offtake agreement from the biggest seafood company in the world behind it, or better, an operational agreement where they’re actually going to be running the factory, because that’s what they’re good at.
Source: UMAMI Bioworks: ‘Startups cannot be in the capex business’
[…] UMAMI Bioworks: ‘Startups cannot be in the capex business’ January 20, 2024At UMAMI Bioworks, he said, “We have the tech, but we have to partner with food companies who generate a lot of cash that can be turned into capex investments in future production capacity. It’s also much easier for me to get traditional bank debt financing for a factory if… Read more: UMAMI Bioworks: ‘Startups cannot be in the capex business’ […]
[…] UMAMI Bioworks: ‘Startups cannot be in the capex business’ January 20, 2024At UMAMI Bioworks, he said, “We have the tech, but we have to partner with food companies who generate a lot of cash that can be turned into capex investments in future production capacity. It’s also much easier for me to get traditional bank debt financing for a factory if… Read more: UMAMI Bioworks: ‘Startups cannot be in the capex business’ […]