MeaTech's First Tasting Event for Israeli Anchor Investors

Rhea-AI Summary

MeaTech 3D (Nasdaq: MITC), a leader in the cultured meat sector, hosted a tasting event for its Israeli anchor investors, showcasing its hybrid chicken nuggets made from plant protein and cultured chicken fat. Held at the company's new Rehovot facilities, the event emphasized MeaTech's commitment to revolutionizing meat alternatives and reducing the environmental impact of traditional meat production. CEO Arik Kaufman highlighted plans for a pilot plant in Belgium to accelerate product entry into global markets, supporting the company's mission to lead the cultured meat industry.

Positive

• First-of-its-kind tasting event for Israeli investors demonstrates investor engagement.
• Development of hybrid chicken nuggets showcases innovative product offerings.
• Plans for a new pilot plant and R&D facility in Belgium to enhance production capabilities.

Negative

• None.

REHOVOT, Israel, March 29, 2022 /PRNewswire/ -- MeaTech 3D (Nasdaq: MITC), an international deep-tech company at the forefront of the cultured meat revolution, today announced a first-of-its-kind tasting event with its Israeli anchor investors, including prominent food industry investors Rami Levy Group, the Pozilov family, and Eli Nidam. Other attendees included Stella Weinstein, Secretary General of Yamina (the party leading Israel's governing coalition), an ardent supporter of the Israeli food-tech industry, and representatives from the Manufacturers' Association of Food Industries in Israel.

The event took place at MeaTech's new offices, located in the Rehovot Science Park, the hub of Israeli food tech. Guests toured the labs and R&D facilities, observed the company's 3D printing capabilities, and tasted hybrid chicken nuggets made with plant protein and cultured chicken fat biomass developed by MeaTech's wholly owned Belgium-based subsidiary.

Arik Kaufman, CEO of MeaTech, said: "We believe that plant-based hybrid products combined with cultured fat represents the next generation in meat substitutes. The use of cultured fat offers a meatier taste and mouth feel that is closer to conventional meat products. As part of MeaTech's market entry strategy, we are moving ahead with the establishment of a new pilot plant and R&D facility in Belgium that will advance our R&D and technology capabilities in the production of cultured chicken fat biomass and help accelerate the entry of our products into global markets."

Yaron Kaiser, Chairman of the Board of MeaTech, said: "We are happy to host this first of many tasting events at our new headquarters where we can share our unique development capabilities. This event is aimed at offering our investors a taste of our strategic approach as we become a market leader in the cultured meat revolution."

About MeaTech 3D

MeaTech 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 "MITC". MeaTech maintains facilities in Rehovot, Israel and Antwerp, Belgium and is in the process of expanding activities to California, USA. The company believes cultivated meat technologies hold significant potential to improve meat production, simplify the meat supply chain, and offer consumers a range of new product offerings.  

MeaTech aims to provide an alternative to industrialized animal farming that dramatically reduces carbon footprint, minimizes water and land usage, and prevents the slaughtering of animals. By adopting a modular factory design, MeaTech will be able to offer a sustainable solution for producing a variety of beef, chicken and pork products, both as raw materials and whole cuts. The company will also provide meat manufacturers and retail businesses with production equipment.   

For more information, please visit: https://meatech3d.com

Forward-Looking Statements

This press release contains forward-looking statements concerning MeaTech's business, operations and financial performance and condition as well as plans, objectives, and expectations for MeaTech's 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 MeaTech's 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 MeaTech's 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, MeaTech's expectations regarding the success of its cultured meat manufacturing technologies it is developing, which will require significant additional work before MeaTech can potentially launch commercial sales; MeaTech's research and development activities associated with technologies for cultured meat manufacturing, including three-dimensional meat production, which involves a lengthy and complex process; MeaTech's 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 MeaTech's 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 MeaTech to predict their occurrence or how they will affect MeaTech. If one or more of the factors affecting MeaTech's forward-looking information and statements proves incorrect, then MeaTech's 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, MeaTech cautions you not to place undue reliance on its forward-looking information and statements. MeaTech 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.

MeaTech Press Contact:

Maissa Dauriac
Rainier Communications
mdauriac@rainierco.com

MeaTech Investor Contacts:

Joseph Green
Edison Group
jgreen@edisongroup.com

Ehud Helft
Edison Israel
ehelft@edisongroup.com

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SOURCE MeaTech 3D Ltd.

FAQ

What was the significance of the tasting event held by MeaTech 3D on March 29, 2022?

The tasting event was significant as it showcased MeaTech's innovative hybrid chicken nuggets to Israeli anchor investors, marking a step forward in its mission to lead the cultured meat revolution.

What products were highlighted at the MeaTech tasting event?

The products highlighted at the tasting event included hybrid chicken nuggets made from plant protein and cultured chicken fat biomass.

What future plans did MeaTech announce during the tasting event?

MeaTech announced plans to establish a new pilot plant and R&D facility in Belgium to enhance its production capabilities for cultured meat.

How does MeaTech aim to impact the meat industry?

MeaTech aims to impact the meat industry by providing sustainable alternatives to industrial animal farming, significantly reducing carbon footprint, and simplifying the meat supply chain.