The company's collaborative initiative with its 3D
bio-printer is a significant step forward in the company's
commercialization strategy for 2023
REHOVOT, Israel, Jan. 3, 2023
/PRNewswire/ -- Steakholder Foods (Nasdaq: STKH), an
international deep-tech food company at the forefront of the
cultivated meat industry, has received its first grant to develop
3D-printed structured eel and grouper products with Singaporean
cultivated fish and seafood company Umami Meats. The initiative is
being funded by a grant from the Singapore Israel Industrial
R&D Foundation (SIIRD), a cooperation between - Enterprise
Singapore (ESG) and the Israel Innovation Authority (IIA).
Steakholder Foods' partnership with Umami Meats offers a unique
opportunity for market entry in the only country in the world where
cultivated meat has regulatory approval. The collaboration aims to
develop a scalable process for producing structured cultivated fish
products. Steakholder Foods will use its newly developed technology
for mimicking the flaky texture of cooked fish that was recently
submitted for a provisional patent application.
The project's first prototype, a structured hybrid grouper
product, is expected to be completed by Q1 2023. The product will
be printed using Steakholder Foods' proprietary 3D bio-printing
technology and bio-inks that will be customized for Umami Meats'
cells.
Yair Ayalon, VP of Business
Development, Steakholder Foods: "Industry collaborations are a
critical aspect of our long-term business strategy. Our partnership
with Umami Meats is especially meaningful following our recent
patent application for fish texture and because it is being
supported by a joint Israeli/Singaporean government initiative of
which we are very proud to be a part."
Mihir Pershad, CEO and Founder
at Umami Meats: "We are thrilled to be combining our deep
knowledge and experience in cultivated seafood with Steakholder
Foods' innovative 3D bio-printing technology. We believe this
partnership will help us advance our vision of a new, more
sustainable food system for preserving our marine ecosystems while
delivering exceptional, high quality seafood to meet growing
consumer demand."
About Steakholder Foods
Steakholder Foods Ltd., formerly MeaTech 3D Ltd., is an
international deep-tech food company at the forefront of the
cultured meat revolution. The company initiated activities in 2019
and is listed on the Nasdaq Capital Market under the ticker "STKH"
(formerly MITC). Steakholder Foods maintains facilities in Rehovot,
Israel and Antwerp, Belgium and
has recently expanded activities to the US.
The company is developing a slaughter-free solution for
producing a variety of beef, chicken, pork, and seafood products —
both as raw materials and whole cuts — as an alternative to
industrialized farming and fishing. With its membership in the UN
Global Compact, Steakholder Foods is committed to act in support of
issues embodied in the United Nations Sustainable Development Goals
(SDGs) which include strengthening food security, decreasing carbon
footprint, and conserving water and land resources.
For more information, please visit:
https://steakholderfoods.com.
About Umami Meats
Umami Meats is cultivating a sustainable seafood future by
producing delicious, nutritious, affordable cultivated seafood that
is better for our health, our oceans and our future. Umami Meats'
cultivated, not-caught seafood offers equivalent nutrition to
traditional seafood and provides a delicious culinary experience
free from heavy metals, antibiotics, and microplastics.
Umami Meats has also been recognized as a semi-finalist in the
XPRIZE Feed the Next Billion competition, a finalist in the Fi
Global Startup Innovation Challenge, a member of Forward Fooding's
2021 FoodTech 500 list, and as the Best Emerging Sustainable
Seafood Company – Southeast Asia
in the 2021 Global Green Business Awards.
About SIIRD
The Singapore Israel Industrial R&D Foundation (SIIRD) is a
cooperation between the Enterprise Singapore (ESG) and the Israel
Innovation Authority to promote, facilitate and support joint
industrial R&D collaboration between Singapore-based companies and Israel-based
companies across different industries. SIIRD seeks to promote
research and development in Singapore and Israel by helping Singapore-based and Israel-based companies
with R&D Partner Search, and providing up to US $1M in funding for joint R&D projects or
pilot projects between them.
Forward-Looking Statements
This press release contains forward-looking statements
concerning Steakholder Foods' business, operations and financial
performance and condition as well as plans, objectives, and
expectations for Steakholder Foods' business operations and
financial performance and condition. Any statements that are not
historical facts may be deemed to be forward-looking statements.
Forward-looking statements reflect Steakholder Foods' current views
with respect to future events and are based on assumptions and
subject to known and unknown risks and uncertainties, which change
over time, and other factors that may cause Steakholder Foods'
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements.
Forward-looking statements include, without limitation, any
statement that may predict, forecast, indicate or imply future
results, performance or achievements, and are typically identified
with words such as "may," "could," "should," "will," "would,"
"believe," "anticipate," "estimate," "expect," "aim," "intend,"
"plan" or words or phases of similar meaning and include, without
limitation, Steakholder Foods' expectations regarding the success
of its cultured meat manufacturing technologies it is developing,
which will require significant additional work before Steakholder
Foods can potentially launch commercial sales; Steakholder Foods'
research and development activities associated with technologies
for cultured meat manufacturing, including three-dimensional meat
production, which involves a lengthy and complex process;
Steakholder Foods' ability to obtain and enforce its intellectual
property rights and to operate its business without infringing,
misappropriating, or otherwise violating the intellectual property
rights and proprietary technology of third parties; and other risks
and uncertainties, including those identified in Steakholder Foods'
Annual Report on Form 20-F for the fiscal year ended December 31, 2021, filed with the Securities and
Exchange Commission on March 24,
2022. New risks and uncertainties may emerge from time to
time, and it is not possible for Steakholder Foods to predict their
occurrence or how they will affect Steakholder Foods. If one or
more of the factors affecting Steakholder Foods' forward-looking
information and statements proves incorrect, then Steakholder
Foods' actual results, performance or achievements could differ
materially from those expressed in, or implied by, forward-looking
information and statements contained in this press release.
Therefore, Steakholder Foods cautions you not to place undue
reliance on its forward-looking information and statements.
Steakholder Foods disclaims any duty to revise or update the
forward-looking statements, whether written or oral, to reflect
actual results or changes in the factors affecting the
forward-looking statements, except as specifically required by
law.
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Press contact:
Maissa Dauriac
Rainier Communications
mdauriac@rainierco.com
Investor contacts:
Joseph Green
Edison Group
jgreen@edisongroup.com
Ehud Helft
Edison Israel
ehelft@edisongroup.com
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