The national food standards body is assessing an application to sell luxury lab-grown meat products, while another company with a cultured lamb burger is waiting to see if customers bite.
Interestingly, the US conservatives have been attacking lab-grown meat lately. So expect similar attacks to start showing up here soon.
Personally I would love to have more alternatives. I enjoy trying out alternative protein sources, not for ideological reasons. I just enjoy flavours and textures. And if they happen to be better for the environment, well bonus!
Looks like the same guys were doing publicity around 2019 https://www.abc.net.au/news/rural/2019-07-30/australia-joins-lab-grown-meat-industry/11360506
At the time, they claimed the cost to make a single hamburger was $30-$40, and now 4 years later, they claim to have gotten it down to $5-$6 per patty.
The article claims the first demonstration of a lab-grown hamburger was in 2013.
So 6 years from proof of concept to (probably) first capital raise, then 4 years to start regulatory approval, 1 year for approval to take place (target is March next year).
I agree with everything you said, and I want to add;
As long as lab grown meat is approved for consumption, the methods of producing it can be made more and more environmentally friendly. It's a matter of regulation+development.