The collaboration aims to address local food security
goals by leveraging Steakholder Foods' expertise in 3D printing for
structured food and hybrid-cultivated fish and meat
production.
REHOVOT, Israel, July 24,
2023 /PRNewswire/ -- Steakholder Foods Ltd.
(NASDAQ: STKH), an international deep-tech food company at the
forefront of the cultivated meat industry, today announced that it
has entered into a Memorandum of Agreement for Strategic
Cooperation (MOA) with an accredited GCC-based governmental body as
Steakholder Foods' strategic partner, to advance food security
efforts through the application of Steakholder Foods'
groundbreaking 3D printing technology. Commencing with an
investment by the strategic partner in the construction of a pilot
plant to produce printed hybrid-fish products, the MOA eventually
aims to create a first-of-its-kind large-scale production facility
in the Persian Gulf region. The agreement foresees a material
initial down payment to Steakholder Foods for the procurement of
its 3D-printer technologies, followed by a milestone-based sales
and procurement plan for industrial-scale output.
![Steakholder Foods’ cooked 3D-printed hybrid-fish fillet. Photo by Shlomi Arbiv Steakholder Foods’ cooked 3D-printed hybrid-fish fillet. Photo by Shlomi Arbiv](https://mma.prnewswire.com/media/2159747/Steakholder_Foods_Ltd_1.jpg)
The MOA is intended to contribute to the scalability of
Steakholder Foods' 3D-printed food technology in territories in the
Gulf Cooperation Council ("GCC"), which represents the economic
union between Bahrain,
Kuwait, Oman, Qatar,
Saudi Arabia, and the United Arab Emirates.
The collaboration between the partners will leverage Steakholder
Foods' expertise in providing mature Ready-to-Cook (RTC) 3D printer
technologies and customized bio-inks, tailored to produce a wide
range of species-specific cultivated fish and meat products, as
well as vegetable-based products. The partners also seek to utilize
Steakholder Foods' advanced technology to overcome the limitations
of traditional fish and meat production, ensuring consistent,
nutritious, and safe food products that closely mimic the taste,
texture, and appearance of conventional meat, fish and
vegetable-based products. The collaborative efforts outlined in the
MOA signify a shared vision and commitment to food security, in a
future where access to nutritious and sustainable food is within
reach for all.
Arik Kaufman, CEO of
Steakholder Foods: "After intensive years of development,
Steakholder Foods is excited to sign this first agreement with a
strategic partner, generating our first income stream that
represents one of the first substantial income agreements for a
company in the cultivated meat industry, a huge step forward. We
believe that we have chosen the right partner, and together, we are
committed to advancing the cause of food security and creating a
positive impact on the world."
Yair Ayalon, VP of Business
Development at Steakholder Foods: "This strategic partnership
marks a pivotal moment in our journey to commercialize our 3D
printing capabilities. Looking ahead, we remain committed to
pursuing additional strategic partnerships to enable us to deliver
innovative solutions for the foodtech industry."
About Steakholder Foods
Steakholder Foods 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), with
headquarters in Rehovot, Israel.
The company is developing a slaughter-free solution for
producing cellular agriculture meat products, such as beef and
seafood, by offering manufacturers the ability to produce a
cultivated meat product that aims to closely mimic the taste,
texture, and appearance of traditional meat— 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
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, 2022, filed with the Securities and
Exchange Commission on April 4,
2023. 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.
Press
Contact:
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Investor
Contacts:
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Maissa Dauriac
Rainier Communications mdauriac@rainierco.com
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Steakholder
Foods
Investors@steakholderfoods.com
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SOURCE Steakholder Foods Ltd.