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I don't really know the answer, but there seems to be two possibilities:
1/ It's meat "grown" in a lab which is being worked right now into a potentially commercial process. My guess is that, biologically, this is meat but without the ethical concerns around slaughtering animals.
2/ It's a biological substitute for meat created from non-animal products, unusually fro plant protein I think. Vegetarians use it. Quorn is one, I think. There non-meat "meat" pies, sausages and much much more. Mmmmmmmm....
The BBC has reported much on lab meat. Vegetable non-meat substitute is everywhere. You might explore the Quorn website for a start. Or the Linda McCartney food website.
Faux meat is a fake meat prepared using plant based ingredients and approximates certain texture, flavour, appearance and/or chemical characteristics of a specific type of meat, without the use of any actual animal product. It is also known as mock meat, imitation meat, vegan meat or vegetarian meat.