PIF unit backs US food tech firm’s entry into halal space

Halal Products Development Company (HPDC) has announced a strategic partnership with Eat Just, a US-based food tech company, to capitalize on the burgeoning halal products space. 

HPDC, a subsidiary of Saudi Arabia’s Public Investment Fund, will provide advisory solutions to help Eat Just obtain halal certification and approvals and enter the halal market.

The San Francisco-based firm develops plant-based alternatives to egg and meat products, backed by a global team of scientists and chef operating across more than 12 research fields.

HPDC CEO Fahad S. AlNuhait said that through the alliance, Eat Just will benefit from HPDC’s review and support services to enhance its business and ensure all its production stages are compatible with the standards of the halal market.

The cooperation will enable Eat Just to capitalize upon the opportunities available within the halal products sector worldwide, he added. 

The agreement is the latest in a raft of collaborations launched by HPDC with local and international partners to harness joint capabilities, develop local capabilities and raise the efficiency of the global halal industry ecosystem. 

In August, the PIF subsidiary launched an accelerator program, in collaboration with the Saudi Exports Development Authority to help local small and medium sized enterprises (SMEs) expand their global footprint. 

In last October, it partnered with Brazilian food processing company BRF to establish a joint venture company in the kingdom to localise manufacturing capabilities of halal products.