First of its kind independent TEA shows Aleph Cuts will reach 47% margin at price parity with beef cuts
When we founded Aleph Farms, we set out to prove something simple but ambitious: that cellular agriculture as a whole and cultivated beef could be more than ideas. It could be a business. It could be food on the plate. And it could be profitable at scale.
Following years of significant resource allocation to drive cost reduction and to increase cell cultivation scalability, we just achieved this very goal. We are proud to share that an independent techno-economic analysis (TEA), conducted by Eridia, a bioprocess engineering firm formed as a joint venture between Bühler (a global leader in food processing technologies) and ZETA (a specialist in biopharmaceutical engineering and automation), confirms that Aleph Cuts can scale sustainably and profitably. Eridia focuses on scaling industrial bioprocesses efficiently, making it uniquely qualified to validate cultivated meat production economics.
This TEA is the first of its kind for cultivated beef and specifically the first ever for whole cut beef steak. This was not a theoretical nor academic exercise. It was an industrial-grade study based on real-world technologies.
Validated profitability with current technology, non-modified cells
The analysis verifies that Aleph Farms can achieve short-term profitability with the technologies it has already developed and with available equipment on the market today, with no reliance on new breakthroughs. The total cost calculated in this TEA includes both operating expenses and capital expenditure (CAPEX), reflecting the full cost of cultivating our cells. This confirms that Aleph Cuts, our cultivated petit steak, is economically viable at scale right now. The TEA projects a unit production cost of USD 6.45/lb against a unit wholesale revenue of USD 12.25/lb, generating an annual net profit of USD 78.5M, with a 47 percent gross margin and payback period as low as 2.5 years
Aleph Farms is one of the only companies in the cultivated meat space relying on non-modified cells (non-GMO, non-immortalized), an approach which was generally considered more challenging and more costly.
Proven economics at realistic scale
The TEA is based on 5,000 liter bioreactors, equipment already in commercial use across bioprocessing industries, rather than hypothetical mega reactors. The study evaluated both mid and large-scale facilities in Asia and Europe, reinforcing the strength of our localized, modular scale-up model adaptable to diverse markets worldwide.
Raw material inputs are currently the largest contributor to cost of goods sold (COGS), but they also represent the biggest opportunity for continued efficiency gains. With process optimization already underway, sensitivity analysis shows COGS could decrease to as low as USD 4.08/lb of end products.
Profitability at price parity
Importantly, the analysis confirms that Aleph Farms’ model remains highly profitable even at conservative wholesale pricing, without relying on premium positioning. Aleph Cuts matches shifting consumer trends, as flexitarians look to diversify protein sources while remaining price sensitive, and as more consumers seek foods that combine indulgence, health, and values such as sustainability and animal welfare. Premium positioning might be achievable, but it is not required for profitability.
The TEA assumed a wholesale price of USD 27/kg (USD 12.25/lb), benchmarked against premium beef cuts such as tenderloin and ribeye. ROI analysis shows the business case remains attractive even at a reduced wholesale price of USD 20/kg (about USD 9/lb).
Building confidence for scale up
This first independent TEA for cultivated whole beef cuts gives investors, policymakers, and partners confidence that Aleph Farms is a credible and profitable growth company, one that can scale quickly, sustainably, and efficiently. It reinforces our role as a meaningful contributor to the future of the global protein economy and to the bioeconomy as a growing industrial approach for mass production.
Looking ahead
For us, this validation is more than a milestone. It is a step toward shaping a new category of protein for a new generation of eaters, one that bridges the gap between structurally fragile supply and evolving demand. It proves that better balanced food systems can be both sustainable and financially sound. Cultivated protein is no longer just a vision for the future. It is here, it works, and it is ready to grow with the world.
