MITC - MITC STOCK NEWS

MeaTech 3D (Nasdaq: MITC) is set to showcase its cultured meat processes and market strategies at the Anuga FoodTec Trade Fair in Cologne, Germany, from April 26-29, 2022. The team will present their innovative cultured chicken fat biomass aimed at enhancing plant-based meat alternatives. Keynote speaker Simon Fried, Head of Business Development, will discuss the transformative potential of cultured meat on agriculture on April 29 at 11:50 am. MeaTech, founded in 2019, believes its technologies can improve meat production sustainably.

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.

MeaTech 3D Ltd. (Nasdaq: MITC) reported its 2021 financial results, revealing an operating loss of $17.2 million and a net loss of $17.8 million or $0.16 per share. Research and development (R&D) expenses significantly increased to $7.6 million. However, the company’s cash and equivalents rose to $19.2 million, up from $13.6 million in 2020. Recent achievements include acquiring Peace of Meat and plans to expand operations in Belgium and the US.

MeaTech 3D Ltd. (Nasdaq: MITC) announced plans for a 21,530 sq. ft. pilot plant in Belgium, set to enhance its cultured avian technology. Construction is expected to start in 2022, aiming to expedite market entry for plant-based meat alternatives. Recently, its subsidiary Peace of Meat successfully cultivated over 700 grams of pure chicken fat biomass in a single run, advancing towards industrial-scale production. CEO Arik Kaufman expressed optimism about the facility's role in delivering enhanced consumer experiences with cultured animal fat in alternative meat products.

MeaTech 3D is pioneering three-dimensional printing technology for cultured meat production, aiming to address the rising demand for protein with premium products like marbled steak. Despite the growing interest in alternative meats, the company anticipates no positive revenues or profits in the near future due to its start-up status and regulatory hurdles. As the first public cultured meat firm, it faces unique challenges with a net cash position of $30.6m at the end of H121 and a cash burn rate of $5.9m per period, suggesting it may sustain operations for about 2.5 years. However, ongoing initiatives could accelerate cash burn.

MeaTech 3D Ltd. (Nasdaq: MITC) will release its 2021 financial results on March 24, 2022. The company will host a conference call at 8:30 am EDT to discuss results and provide a business update. Interested participants can join via specified phone lines or access a live webcast on the company's website. MeaTech, involved in the cultured meat industry since 2019, aims to revolutionize meat production and reduce environmental impacts through innovative technologies.

MeaTech 3D Ltd. (Nasdaq: MITC) is expanding its operations by opening a new office in California aimed at enhancing research and development, investor relations, and business growth. This move follows a significant 50% increase in its workforce in Israel and the acquisition of larger headquarters to boost R&D in cultured meat and 3D bioprinting. The company also plans to develop a pilot plant in Belgium for avian cell culture technologies, indicating robust scaling efforts. CEO Arik Kaufman emphasized the importance of this expansion for their go-to-market strategy.

MeaTech 3D Ltd. (Nasdaq: MITC) will showcase its cultured meat technologies at two key events in Dubai during Expo Dubai 2020. The company aims to produce high-quality, slaughter-free meat products that are safer and more nutritious. Notable events include the Food for Future Summit on February 23-24 and an invite-only Future of Agri & Food event on February 22. MeaTech focuses on supporting UAE's food security strategy, aiming for sustainable production methods for meat, which currently relies on 90% imports.

MeaTech 3D Ltd. (NASDAQ: MITC) announced a breakthrough in its cultured meat technology, improving the differentiation of bovine stem cells into muscle fibers. This development enhances muscle fiber density and quality, aiming to replicate the characteristics of traditional meat. MeaTech has filed a provisional patent application to protect this innovation. CEO Arik Kaufman emphasized this milestone as a step toward creating a true alternative to conventional meat, following their success in 3D printing living muscle tissue.