Moomoo is a useful tool in my MBA strategic transformation class

In this just-ended semester, I introduced a new class MBA exercise. At the beginning of the session in March 2026, I asked my MBA students to select three companies listed on the US stock market. Over 4 months, they should monitor the share price performance of these firms. In July 2026, they should explain the impact of strategic transformation efforts of these firms on their share prices.

My interest was to make my MBA students understand the impact of strategic transformation efforts on share prices of companies. Most of my MBA students chose Nvidia, which was not unexpected.

The investment platform used was Moomoo, an online trading platform owned by Futu Holding Ltd., a company listed on NASDAQ. As at July 24th, 2026, the market value of Futu was about US$14 billion, as compared to the leading online trading platform, Robinhood Inc., at US$84 billion.

I have been using Moomoo to invest in world-leading companies, such as Nvidia, TSMC, Google and Amazon. We do not need to purchase the shares of these companies at 1 share (unit), which often cost hundreds of US$. The US market allows an investor to purchase a minimum of 0.0001 shares, called fractional shares with a minimum investment of US$5.0. This feature allows an investor with a small capital to invest in world-leading companies, which  shares would likely appreciate over time. Practically, we can invest directly in shares instead of through a unit trust or mutual fund.

I hope the experience my MBA students gained in this investment exercise would give them a useful investment exposure in wealth creation through share ownership in world-leading companies.

Back to Futu Holding Ltd               

The founder of Futu was the 18th employee of Tencent, a US$500 billion Chinese games company. Futu’s business model was to rewrite share brokerage experience through faster software, smoother and easier account opening and an investor community modeled partly on social-media platforms. Li Hua, the founder of Futu, is from Loudi, a city in China’s Hunan Province. He graduated from Hunan University in 1995, majoring in electronics and computers. He joined a then start-up company, Tencent, which was only one-year old and virtually unknown outside China. Li was drawn to OICQ, the early messaging product later renamed QQ.  He was the company’s  first graduate employee.

In first eight years at Tencent, Li worked in marketing, operations, R&D and product management. He participated in the early development of QQ and later helped build Tencent Video, according to Chinese media reports. Tencent granted share options to some early employees such as Li. After Tencent was listed in Hong Kong in 2004, the shares were worth a lot. Li  became wealthy and began trading in Hong Kong stocks. His experience in trading stocks led him to move into the securities industry. He recalled that share brokerages charged high commissions but the technology was lagging. Opening an account took one or two weeks, trading systems were unstable, moving funds was cumbersome, and customer service could be difficult to reach after the market closed. He concluded that there was a need for better stock brokerage services. Subsequently, Li assembled a team to develop a Hong Kong trading stock trading system. The system completed technical certification with the Hong Kong Exchange through a partner institution. He tested it by conducting several billions in Hong Kong dollars using his own capital.

The experience convinced him that the product development and engineering skills accumulated by internet companies could be applied to traditional brokerage services. Developing only a front-end trading tool would have required less capital and fewer licenses. But it would have left trading, clearing, customer assets and much of the service chain under the control of traditional financial institutions. Li concluded that the only way to control the entire customer experience was to become a licensed securities firm.

Fund raising for the venture proved difficult. By 2012, Hong Kong’s brokerage industry was already crowded and many investors struggled to understand why a former Tencent employee with no traditional finance background wanted to enter a heavily regulated business. When outside funding failed to arrive quickly, Li invested about HK$40 million of his own money in regulatory and early operations, according to his previous public comments. He also took the qualification examinations required for Hong Kong’s security industry. At at its most difficult time, Futu had only 11 employees.

Came Tencent backing

Futu’s fortunes began to change later after Wu Xiaoguang, a former Tencent executive, tried the product in 2013 and found it easy to use, according to earlier reports. His endorsement helped attract the attention of Tencent’s investment team.

In March 2014, Tencent, MPCi and HSG invested in Futu’s series A funding round. The three investors also participated in subsequent financing rounds. Before Futu’ NASDAQ listing in 2019, Tencent held about 38.2 per cent of the company., making it the largest institutional shareholder.

Futu sought to distinguish itself from other brokerage firms though technology. By 2018, customers could complete the entire  account opening process online with applications approved in as little as five minutes.

Futu added more than 215,000 new accounts that year compared with roughly 138,000 in 2017.

Li also insisted on calling the app “Moomoo”, using informal cartoonlike name at a time when Chinese software typically favored names evoking intelligence or wealth.

From its launch, Futu embedded Tencent-style social and product thinking into securities. Customers could check market data and place orders while also reading news, opinions and following other investors. These features eventually developed into an investor community, which increased the time users on the platforms, raised engagement and reduced customer- acquisition costs.

Experiencing high growth in Hong Kong stocks 

Futu experienced  rapid growth in 2015. In that year, trading volumes on the Chinese mainland and Hong Kong jumped sharply, putting pressures on brokerage systems. Futu’s platform remained stable with support from Tencent Cloud, helping it build a reputation among active investors.

Futu entered another period of rapid growth during Covid-19 pandemic. Increased interest in trading from home and  active US and Hong Kong stock markets fueled  rapid growth in customers, transaction volumes and profits.

Now Mommoo operates in the US, Singapore, Australia, Canada and Malaysia. At the same time, several competitors are offering online trading platforms, with Robinhhod, a US company being the largest company by market caps. Thus, active investors have many choices to invest in US and Hong Kong markets, other than Futu (Moomoo).

Teaching MBA students about strategic impact of capital markets on firms

Innovations such as  fractional shares of world-class firms and online trading  platforms such as Moomoo and Robinhood have made teaching about capital market very simple and interesting.

My MBA students are comfortable in investing in US shares and knowing it as a method of long-term wealth creations. In the process, they will learn why these firms are highly valued by investors.

AI will make investment in shares of world-class firms less complicated.

I forsee older investment products such as  unit trusts (or mutual funds) will become less attractive  as AI can make decisions  on portfolio allocations of shares.

Source:

The Business Times published July 25th, 2026. “Toughest test: A securities fraud class action suit is pending against Futu, Li Hua, financial officer, Chen Yu.”

Sodium-ions batteries developed in China will become low-cost alternative to more expensive lithium-ion batteries

Basic Chemistries of Sodium and Lithium

Every science student and chemical engineer know the position of lithium and sodium in the periodic table of elements. Lithium is just below hydrogen, and sodium is immediately below lithium. Lithium is the ideal material for batteries because it is the lightest of all materials and has the greatest electrochemical potential. This allows it to store immense amounts of energy in a very small, lightweight package, making it the perfect power source for modern electronics and electric vehicles.

Several key properties make Lithium superior to other battery materials, as follows:

  • High energy density: Lithium batteries can store significantly more power per unit of weight and volume than traditional lead-acid or nickel-cadmium alternatives.
  • Highly reactive element: It easily releases and accepts electrons, which facilitates a high electrical power output.
  • Rechargeability: Lithium ion moves effortlessly back and worth between battery’s anode and cathode. This allows the battery to be charged and discharged thousands of times without significant capacity loss.
  • Low self-discharge: Lithium batteries hold their charge much longer when not in use compared to other rechargeable batteries.

Sodium is emerging as  a cheaper, safer, and highly sustainable alternative for stationary grid storage and affordable electric vehicles, as sodium materials are more abundant and inexpensive.

A direct look at the core differences reveals how they perform across key metrics.

FeatureLithium-ionSodium-ion
Energy densityHigh (200 to 300 Wh/kg)Lower (120 to 170 Wh/kg)
Raw materialsScarce; relies on copper, cobalt, and nickel Abundant; uses cheaper aluminum
SafetyFlammable; medium risk of thermal runawayNon-flammable; very low risk of thermal runaway
Cold weatherLoses capacity and efficiency at freezing temperatureExcels in extreme, sub-zero temperatures 
LifecycleVery high (8,000 to 10,000 cycles for LFP)Moderate (3,000 to 6,000 cycles
CostMore expensive due to limited supply chainSignificantly cheaper to produce

Notes:

Physics limit sodium: Lithium ions are smaller and lighter, allowing lithium-ion cells to pack significantly more power into the same size and weight. This makes lithium the top choice for smartphones, laptops, and long-range electric vehicles.

Sodium’s structural edge: Sodium is roughly 1,000 times more abundant than lithium, as it can be easily extracted from common sources like seawater and salt. Sodium-ion batteries are also easier to recycle and can be safely shipped at zero volts, making them vastly safer during transport and disposal.

Manufacturing and adoption: While lithium-ion has a mature, decades-old supply chain, major manufacturers are actively scaling sodium-ion technology.

Sources: Various references.       

A Chinese firm has successfully developed sodium-ion battery 

It is reported by Prabhat Ranjan Mishra in interestingengineering.com on May 28th, 2026, that a new type of sodium-ion battery, developed in China, is now matching the performance parameters and production quality of lithium-ion batteries. It is developed by a company HiNa Battery Technology Co. Ltd. (HiNa Battery), based in the Science and Technology Industrial Park, Liyang, Jiangsu Province, China. The battery’s high-power capability, and strong low-temperature performance makes these cells attractive for stationary storage. Its website is hinabattery.com/en/.

Once the new battery is further improved to charge more effectively at low temperatures and function better at high energy densities, it could provide a cost-effective alternative for future electric vehicle batteries that depends on sodium.

“The combination of good uniformity, high power capability and strong low-temperature  performance makes these cells attractive for stationary storage, grid services, and shorter-range or commercial vehicles where potential lower cost and resource availability matter more than maximum driving range,” says Moritz Schutte, a battery scientist at RWTH Aachen University in Germany.

To assess how HiNa batteries compare to more advanced lithium batteries, Schutte’s team used a non-destructive technique called impedance spectroscopy to measure the uniformity of 120 sodium-ion battery cells. Next, to map out the power and energy performance of individual cells under real-life conditions, the team tested the batteries at varying current and temperatures from -200C to 450C . They also used X-rays to see the battery’s internal structure, then opened up the cells to measure their electrode dimensions, compositions, and microstructures.

It was also found that the battery uses a tabless, double-aluminum current collector design that reduces resistance and ensures a uniform temperature distribution-and also mirrors the current design of lithium batteries.

“We were positively surprised how uniform the cells are. The high-power performance was better than one might expect from an early commercial sodium-ion battery. However, for applications that require frequent charging at low ambient temperatures, appropriate thermal management or operating categories will be important because low-temperature charging remains a clear weakness,” said Schutte.

Researchers also found unexpectedly high, unevenly distributed levels of copper in certain cathode regions of the battery.

Future sodium-ion technologies

“It raises interesting questions about its role in performance and aging,” said Schutte. “it will be exciting to see future sodium-ion technologies that are free of nickel and copper, as well, while achieving competitive energy density.”

Since sodium is much more abundant and widely available than lithium, using it for batteries could reduce raw matarial costs for manufacturers and reduce long-term supply chain risks. Sodium-ion batteries also perform well under load at low temperatures, making them an attractive option for both stationary power storage and mobile applications in cold countries     

Taiwan’s global AI giant: Taiwan Semiconductor Manufacturing Company

Taiwan Semiconductor Manufacturing Company (TSMC) has quietly emerged as Asia’s most valuable company by market cap. As at April 21st, 2026, the market value of TSMC was US$1.92 trillion based on its  ADRs listed on NYSE. Only American companies, such as Nvidia,  Google, Apple, Microsoft and Amazon, are bigger by market cap as shown below.

No.CompaniesUS$ trillion
1Nvidia4.86
2Google4.00
3Apple3.91
4Microsoft3.15
5Amazon2.69
6TSMC1.92
7Broadcom1.90

TSMC has replaced Toyota Corporation of Japan as Asia’s most valuable manufacturing company, which was only US$260 billion (US$0.260 trillion). The closest Asia’s giant by market cap is Saudi Arabia’s national oil company, Aramco, at US$1.752 trillion.

The rise of TSMC

Many years ago, my Taiwanese friend, the late Dr Hsu of Hambrecht and Quist Asia Pacific based in Taipei, Taiwan,  told me that his US colleague, Dr Morris Chang, was returning to Taiwan from the US to start TSMC at the Hsinchu  Science Park, near  Taipei. It would focus on contract manufacturing of ICs for IC design companies in Silicon Valley and Taiwan. Thus, these IC design companies would not need to establish their own foundries, which required substantial capital outlay. At that time, IC manufacturing was dominated by Intel. The IC design companies called fabless companies, often were started by Taiwanese engineers in Silicon Valley. One such company was Nvidia, which was started by Jensen Huang, a Taiwanese engineer in Silicon Valley.

Over the years, TSMC has emerged as very important company in the AI ecosystem, which helps Nvidia to design AI and manufacture them. In the process, TSMC has replaced Intel as the largest IC manufacturing company in the world, whose market cap was only US$0.33 trillion.

TSMCs’ manufacturing capability

TSMC operates its manufacturing facilities known as GIGAFAB fabs primarily in Taiwan, with major fabs in Hsinchu Science Park, Taipei, Southern Taiwan Science Park , Tainan, and Central Taiwan Science Park, Taichung. It is reported that TSMC has a production capacity of 15.02 million 12-inch equivalent wafer per year. It produces chips ranging from 2 microns to 3 nm. It has started mass production of 2 nm chip. This technology requires advanced manufacturing capability and features nanosheet transistors designed for superior energy efficiency and density, targeting AI and computing applications.

As at 2025, TSMC had about 90, 557 employeews. This is expected to increase as TSMC establishes new fabs in the US and Japan.

It has about 10,000 R&D staff, which is focusing on breakthroughs for 2 nm and beyond. At the same time, the R&D team is also focusing on FAB R&D to improve the fab process models like 2 nm. It is spending about US$6 billion in 2025, which was equivalent to 5% of revenue of US$120 billion.

TSMC is important to Taiwan, and it is a dominat driver of Taiwan’s economy. Its market value of US$1.92 trillion easily surpasses the GDP of Taiwan of about US$ 0.9 trillion.

My small investment in TSMC  

I have a small interest in TSMC through an investment in its ADRs via Moomoo trading platform. I am looking forward to TSMC achieving a market cap of US$2.0 trillion soon. I believe Taiwanese and the world would be thanking the late Dr Morris Chang for his vision of starting TSMC with the help of Taiwan’s government and Philips of Nederland. It was the pioneer of  world’s dedicated “pure play” semiconductor foundry business model, solely focusing on manufacturing IC chips for other companies. It also helped fabless IC design companies to develop various chip for many applications. It is truly Asia’s global manufacturing giant located in a tiny country of Taiwan.

Thank you for visiting our blog in 2025, and continue to do so in 2026

We would continue to offer interesting innovation topics in 2026. At the same time, we will include photos and interludes from our urban orchard.

The rose apple trees are going to bear more fruits, as well as our rambutan trees. We also have planted several more dragon plants.

In appreciation of our blog vistitors, we are extending a free ebook, “Getting Funding for Your firm”, which we published in 2010. We believe the contents are still relevant today.

The contents of the ebook are as follows:

Title: Securing Private Equity in Malaysia: Capital for your firm without going to your bank managers.

Chapter 1: The Private Equity Industry

Chapter 2: How Malaysian Private Equity Managers Make Investment Decisions

Chapter 3: Are You Ready for Private Equity Investment?

Chapter 4: Knowing the Worth of Your Company

Chapter 5: Grant Money for the Lucky Few

Chapter 6: Angel Investors and Other Sources of Capital

Chapter 7: Post Investment Marriage

Chapter 8: Sharing Rewards Through Exits

Chapter 9: The Case Against Private Equity

Chapter 10: Private Equity and National Development

SAMPLE OF A BUSINESS VALUATION REPORT

APPENDICES- Appendix 1: The entrepreneur’s due diligence business information kit for private equity proposal. Appendix 2: Guideline for a commercialisation plan. Appendix 3: Major Malaysian Private Equity Firms. Appendix 4: Government organizations providing “grant schemes”. Appendix 5: Government development finance Institutions. The language of private equity. Bibliography. Index.

Download the ebook here.

Yours sincerely,

Dato’ Dr Anuar Md Nor,

Founder, Bison Consulting since 2000

Rose apple ready for picking!

Thanks to my wife, Datin Azimah, who closely takes care of the rose apple tree, pruning and fertlising, we are now ready to enjoy bountiful rose apple fruits. They look juicy red.

The photos are so vivid and beautiful. Readers are welcome to use them in your blogs or albums.

A True Business Giant: China’s CATL

Many years ago, I sent a  staff to China to present a paper on incubation park in a Malaysian university. We were proud that we have established a 20-acre incubation park, where start-ups and university spin-offs could operate. When he came back, he reported what the Chinese had established an incubation park in a university in Northeast China.   

The size of the incubation park was more than 500 acres, compared to ours of only 20 acres. It is not surprising that factories in China often occupy huge areas due to their big domestic market as well as overseas markets. Many of the factories are owned by quite and unknown business giants.

One such giant is Contemporary Amperex Technology Co., Limited or CATL. The company, by far, is the largest battery-maker in the world. Its batteries power a third of the world’s electric vehicles EVs) and a  similar share of energy-storage systems (ESSs).

According to SNE Research, in 2024, CATL shipped 491 GWh of batteries for EVs and ESSs. This represents about 38 per cent of the EVs and ESSs markets of 1,299 GWh. The second position is occupied by BYD, with 192 GWh. BYD uses its batteries to power its own EVs. This is closely followed by LGES, a Korean company.    

CATLs’ operations are based in Ningde, a town in Southeast of China. The rise of the company, founded in 2011, changed the economic fortune of Ningde, which was the hometown of its founder ,Robin Zeng. In fact, the economic output of Ningde is bigger than Estonia or Uganda.

CATL is now a public company . It just completed a secondary listing on the Hong Kong Stock Exchange, raising more than US$5 billion in the process. The shares are already listed on the Shenzhen Stock Exchange since 2018.

CATL is the giant of its industry. Its manufacturing sites in China occupy 20 million square meters, and employ about 100,000 people, as well as own lithium mines. Its scale and vertical integration have allowed it to reduce costs and lowered prices for its batteries. In 2024, it earned a revenue of US$50 billion. It is now expanding its factories overseas. Its customers include all the Chinese EVs firms (except BYD), BMW, Toyota and Volkswagen. It supplies ESSs to many projects, including the world’s biggest energy-storage project in UAE.

CATL is continuously advancing its battery technology with R&D spending in research  and development amounting to US$2.5 billion in 2024, which was much bigger than the total R&D expenditure of its competitors. . In April 2025, it unveiled a battery that can provide 520 km of driving with 5 minutes of charging, as compared to BYD’s 400 km battery with the same charging time.

The rise of CATL shows the dominance of China in EVs and ESSs. The company is one of the many Chinse companies which dominate specific sectors of the world’s technology. In recent years, these firms have quietly gained technological advantages and exporting their products overseas. They are often located in smaller cities, other than Shanghai, Shenzhen and Beijing.

Economic analysts have pointed out that the actual GDP of China does not reflect the economic power of these unknown dominant companies. They serve both the large Chinese domestic market as well as the growing markets in Southeast Asia, Middle East  and Central Asia.  We will see many  them in the near future!

New topic: Negotiation for innovators

Next week, a new MBA Semester will begin at Azman Hashim International Business School , UTM, Malaysia. I will be teaching a new subject, Negotiation for Decision-Making, and the old subject, Strategic Transformation of Organizations.

The topic of negotiation is a critical skill for organizations and firms. It is also applicable for our dilly activities, as we tend to negotiate with spouses, children, friends and office colleagues everyday. We also negotiate with other firms for our employers.

We will be writing a series of articles on the science of negotiations as well as recommendations for negotiation by practitioners.

Cow-free cheese for delightful pizza

I am a regular fan of beef peperoni pizza, made by a  well-known franchisor.
 As everyone knows, pizza contains one critical ingredient, namely cheese. As pizza is a world favourite food, It is noted that the global worth of the cheese industry is world’s US$150 billion a year. In every pan of pizza, there are about 17 to 26 grams of cheese.  Some pizzas have a  weighty amount of cheese to delight eaters. According to Rocco’s Random Pizza Facts, each man, woman and child in America eats on average 652 grams of pizza per year. America has a population of more than 340 million.

Presently, most of the cheese used in pizza is derived from milk of cows.

If cows are considered a technology that created milk, they would be 3 per cent effective in converting nutrients. As a former chemical engineer, that is really inefficient technology and nowhere in the world would that technology be accepted. Typically, milk is not complex—it is just water, proteins and other nutrients. We should be able to make this in a laboratory using fermentation process.

Instead of using a 200lb cow  to produce dairy proteins, we can use GM yeast (genetically modified yeast) to produce the exact same proteins that are necessary for the production of dairy in laboratories.

One we have the proteins, we mix it with water and nutrients, viola we have milk, which can produce numerous dairy products, such as cheeses.  

Let us understand the process of milk from cows. If this process is considered a “technology”, then normal cow milk is produced by impregnating cows. Once the youngling is born. It gets taken way from the mother. The mother will be attached to a milking machine, starting the process of milking over a span that lasts to roughly a year. The milk the cows produce is not effective in converting nutrients they eat (mainly grasses and insects), with a  conversion rate of 3 per cent. Then, the cow gets impregnated again, thus, repeating the same process. It is estimated that there are more than 270 million cows  that are producing milk in the world. The popularity of pizzas and other  dairy products would require more cows and lands to breed them!

Need to have alternatives to produce cheese without cow milk

Genetically modifying yeast can make dairy protein fermentation, easy and simpler method. Bioengineers have been trying to make it the best, most sustainable type of yeast that can create the milk protein, in order to produce the milk products at the faster conversion rate possible. Two main proteins that cows produce that are vital to dairy are casein and whey.

If we can make dairy tastes good (and is the same as traditional dairy), at a  comparable price point, no one has to compromise. We would have the dairy we love, at the same availability and convenience as before, just as a much  better use of resources, which are finite.

Genetically modifying yeast-the process

The goal of genetically modifying yeast is to alter its DNA so that it has the same protein-producing genes that cows have—so they can produce the same proteins cows do.

We introduce the protein-producing genes to the yeast cells in the form of DNA. Essentially, we are giving the yeast cells an instruction manual on how to make milk proteins by genetically modifying them to include cow DNA. After we introduce the DNA, we want to cell to replicate the new gene sequence many times so that if one is destroyed, we have more copies (cloning the cells).

The genetic engineering process is done through the plasmid of a yeast cell. The plasmid is a circle of genetic material that replicates indefinitely. The role of the plasmid is to transfer genetic information to other parts of the cell. Plasmids exist in addition to the cell’s main DNA (chromosomes). When they are extracted, the yeast cell is still  able to function because it has its chromosomes.

In the process of genetic engineering, the plasmid is extracted, and gene edited. A section of the DNA inside the plasmid is cut  out, then the DNA sequence that cows use to produce milk proteins is inserted in the cell. The plasmid is then introduced to yeast. It transfers the new genetic information to the chromosomes of the yeast cells. The yeast cells then begin dividing and producing the casein and whey proteins.

In the case of genetically engineered yeast, yeast is the host cell, and the plasmids are edited to include the cow gene sequence that produce proteins. Once we create the transformed yeast cell, we can make the proteins.

Precision fermentation

For thousand of years, humans have used fermentation to produce food and beverages like bread and beer using natural micro-organisms such as yeast.

Recent years saw the rise of biomass fermentation, which use a similar process to create an edible fungal mycelium that is rich in protein and nutrients.

The next evolution is precision fermentation, a high-tech way of making foods and ingredients. Precision fermentation involves engineering a micro-organism like yeast or fungi to produce an animal protein or fat, with the same taste, texture and nutrition as the real kind. Since 1980s, precision fermentation has been used extensively to produce a range of high-value pharmaceuticals and vitamins in fortified foods.

For example, it has been sued to create an enzyme found in rennet that is critical for cheese-making to avoid reliance on animal sources. Similarly, the diabetes treatment insulin is now made within a fermentation tank, so it no longer needs to be sourced from cows or pigs.

Costs have come down in recent years enabling thi technology to be used to produce higher volume, lower value products like food.

Producing cow-free casein

Casein, the unique protein found in dairy milk, can be made without cows by using precision fermentation.  It works like a high-tech brewing technique. The aim is to create  a factory at the cellular level that continues to multiply and grow significant quantities of casein protein. This is achieved by engineering yeast cells using genetic information from cow’s milk protein, as elaborated earlier.

It is first tested in small flasks in the laboratory where the cells are fed sugar and triggered to start producing the same ingredient. Once the process is working well and casein has the right flavour, taste, and nutrition as what are found in dairy milk, it is time to scale-up. That means increasing production quantities  by ten times. Finally, a purification process is undertaken to separate the pure proteins from the GM yeast cells. This leaves just the casein and whey.

Once a product can be developed cost-effectively at this stage, a company may invest in  commercial plant where they can then grow to produce 10,000 litres or more. Casein is the essential, functional dairy protein that gives cheese its stretchy, melty properties but had previously only been found in animal milk, such as cows and goats.  

Once the cow-free casein is produced, a traditional cheese-making techniques are used, which have been perfected over thousand of years. The cow-free casein is mixed with water, plant-based fats, salt, a small dose of sugar, vitamins and minerals.   

Companies involved in cow-free casein

Several companies have been involved in the production of cow-free casein to make  cheese for pizzas. They include:

No.CompaniesCountrieswebsite
1Dairy X FoodIsraelDairyx.com
2New CultureUSNewculture.com
3Eden BrewAustraliaEdenbrew.com.au
4All G FoodsAustraliaAllgfoods.com
5Fooditive GroupNetherlandsFodditivegruop.com
6Standing OvationFranceStanding-ovation.co

Besides these companies, other startups are also making cow-free proteins (casein), with some planning market entry via branded consumer products or a b2b strategy.

 The market for cow-free dairy protein is huge. It is estimated that the global cheese  industry is worth US$150 billion, mainly in the developed countries.  

Conclusion

In a few years, we hope the production of cow-free cheese through precision fermentation is significant, thanks to the efforts of the pioneering companies like DairyX and New Culture.

For me, I am interested to pursue the production of animal-free gelatine that is considered “halal” food ingredient for both Muslim and non-Muslims consumers.

Note on milk products

The list of products that you can create from one ingredient of milk is extensive. Add some heat and bacteria, and you have yogurt. Churn it up and you have got butter. Curdle and separate the proteins and you have got cheese. In addition, milk can be drunk and applied to many foods, breakfast cereals and hot beverages.  

In milk, casein constitutes about 80 per cent of the protein whilst 20 per cent is made up of whey proteins.