BlueNalu, the cell-based seafood developer, named Amir Feder as its CFO Thursday and announced a new expansion of the its operations that brings the group closer to commercial launch.
Feder has extensive experience in corporate finance, and most recently was CFO of Hughes Marino, a Southern California-based commercial real estate firm.
BlueNalu signed a lease for an expansion to its administrative, R&D and manufacturing space with a new facility in San Diego, which will be more than a 38,000 sq. feet, a six-fold increase over the current BlueNalu site.
The expanded facility will include a pilot-scale food production plant designed for the commercial production of cell-based seafood products in its initial test markets.
It will house the first BlueNalu kitchen and demonstration space for use by cutting-edge chefs and "sustainable seafood ambassadors."
BlueNalu continues is developing mahi mahi, red snapper, tuna, and yellowtail product lines.
The company recently expanded project management, technology, product development and engineering teams, and expects to double its staff to around 50 over the next 9-12 months.
This week product development partner Griffith Foods said it is investing in BlueNalu as part of its accelerated plan to hit the marketplace next year.
Under a new strategic investment partnership, Griffith Foods will support BlueNalu with product development expertise in food science coupled with market insight and sensory optimization.