Its 10 years since the first cell based meat was grown in a laboratory amidst the hype and headlines claiming plant-based proteins would soon replace real meat.
With more than $2.7 billion invested in cell-based technology start ups, some big money is backing the potential of lab-grown proteins to massively disrupt the global meat industry.
With a distinguished career in the pharmaceutical sector and CSIRO, Monash University Adjunct Professor Paul Wood AO is an independent expert with decades of experience in many of the technological processes behind the new generation of food proteins.
He has sat on the board of Dairy Australia, chairs insect protein start-up Viridian Renewable Technology, and has been a member of the advisory board of Cellular Agriculture Australia.
His view is that many protein sources will be needed to feed growing human populations in future, but also points out areas where he believes forecasts by cell-based startups oversell the technology's current potential.
Professor Wood's simple response to claims the technology is set to 'kill off' the traditional livestock production sector: "Don't sell the farm yet," he told guests at the recent Rural Press Club gathering.
"Billions of dollars are being poured by investors into an estimated 150 cultivated meat startups around the world, betting they will soon be able to produce lab-grown protein alternatives at a commercially viable scale while also attracting customers in large numbers," he said.
"Some cell-based meat startups have publicly announced they have commissioned fermentation vessels up to 250,000 litres in size.
"Now that is just unfeasible as the biggest we have ever done in cell culture is about 10,000 to 20,000 litres.
"Even some of the other manufacturers are calling that out".
He said the claims were more about virtue signalling to investors than good science or manufacturing practice, he said.
Maintaining a continuous sterile environment requires a major capital investment for 'a decent sized facility' of around $US 600 million. Cell based startups then require high ongoing costs to source culture media with high quality growth factors.
When talking about the price of the end -product, these costs and the depreciation on capital were typically not being factored in.
"It is one of the really interesting things, if you have ever been in manufacture, you know people don't give you capital for free.
"It actually costs money, and you have to build depreciation in, and in this business it is a big chunk of the cost."
He said fermenters have run at 37 degrees, which requires a lot of energy and generates a lot of heat.
"Next, the room then needs to be cooled down, which requires an additional enormous amount of energy," he said.
"There is a lot of energy going into running one of these facilities.
"One big facility said they are going to have 130 10,000 litre fermenters running at 37 degrees. That is a lot of heat, a lot of energy."
He said the energy intense nature of the process means that unless these facilities are able to use totally renewable energy, meat from this source could not be considered as sustainable as meat produced from livestock.
Plant-based meat accounts for 1.4 per cent of the total USA meat category.
He said his prediction to the future is to focus on what we do best and produce a nutritional product, as fake meat is not going to give you a prime cut.
"It will end in tears," he said.