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Steakholder Foods Ltd. (Nasdaq: STKH) is a cutting-edge deep-tech food company specializing in cultivating meat technologies. Focused on revolutionizing meat production, the company aims to simplify the meat supply chain and offer consumers innovative product offerings that reduce environmental impact. By developing alternative solutions to industrialized animal farming, Steakholder Foods targets minimizing carbon footprint, reducing water and land usage, and preventing animal slaughter.
The company's ground-breaking technology includes a proprietary three-dimensional bioprinter designed for producing meat and seafood analogs. This 3D printing technology combines cultivated and plant-based elements to create hybrid meats, enhancing texture, flavor, and nutritional benefits. Steakholder Foods' flagship inventions include its state-of-the-art 3D Fusion Pro™ meat printer and NutriBlend™ ink, a nutritional blend for plant-based meat production.
Recently, Steakholder Foods achieved significant milestones, including signing a Memorandum of Understanding (MOU) with Wyler Farms, Israel's leading alternative protein and tofu producer, to adopt their 3D printing technology. The deal encompasses a subscription to the company's SH Software™ and NutriBlend™ ink, with expected production starting between Q4 2024 and Q1 2025. This collaboration marks an industry-first in integrating industrial-scale 3D printing technology into the food industry.
Furthermore, Steakholder Foods received a $220,000 initial payment from the Singapore-Israel Industrial R&D Foundation (SIIRD) for developing 3D-printed hybrid grouper fish, combining their SHFish – White Fish™ formulation with cultivated grouper cells. This project underscores the company's capability to produce innovative and sustainable food solutions.
In addition to technological advancements, Steakholder Foods continually strengthens its market presence and partnerships. The company's recent annual business update highlights major achievements, including strategic agreements, funding, and technology optimizations. Notably, Steakholder Foods announced a partnership with the Industrial Technology Research Institute (ITRI) in Taiwan to develop and commercialize plant-based meat alternatives tailored for Taiwanese cuisine.
Steakholder Foods’ mission is to provide sustainable, nutritious, and premium-quality plant-based food alternatives. As a pioneer in cultivated meat and 3D printing technology, the company is actively seeking collaborations with like-minded partners to expand its global footprint and drive future innovation in the food industry.
For more information, please visit: https://steakholderfoods.com
Steakholder Foods Ltd. (NASDAQ: STKH) announced on February 8, 2023, that its analysis of cultivated muscle cells has demonstrated a similar amino acid profile to native beef tissue. This finding suggests that the cultivated meat products can match the taste and nutritional value of conventional meat. The analysis involved testing 17 amino acids, confirming that the cultivated products contain essential amino acids vital for human nutrition, thereby supporting muscle growth, immune function, and hormone production. The company continues to advance its technologies to produce slaughter-free meat alternatives.
Steakholder Foods Ltd. (NASDAQ: STKH), an innovator in the cultivated meat industry, has announced a significant achievement in cell production, boasting a 50x increase in yield through a new filtering system. This breakthrough is designed to optimize growth methodologies, reducing costs and enhancing scalability of production. The innovative system allows for the continuous refreshment and reuse of growth media, promoting sustainable practices. The company aims to contribute to a more sustainable food system, aligning with UN Sustainable Development Goals.
Steakholder Foods Ltd. (Nasdaq: STKH) has completed an underwritten public offering of 6,500,000 ADSs at $1.00 each, raising gross proceeds of $6.5 million. This offering includes warrants exercisable at the same price, valid for five years. The underwriters have a 45-day option to purchase an additional 975,000 ADSs. Proceeds will be used for general corporate purposes. Moreover, the company modified existing warrants from a $3.50 exercise price to $1.00, extending their terms to January 10, 2028.
Steakholder Foods Ltd. (Nasdaq: STKH) announced a public offering of 6,500,000 American Depositary Shares (ADSs) at $1.00 each, aiming to raise $6.5 million. The offering includes warrants for additional ADSs and is expected to close around January 10, 2023, pending customary conditions. The company will utilize the proceeds for general corporate purposes and is also reducing the exercise price of existing warrants from $3.50 to $1.00. This initiative is part of Steakholder's efforts to enhance its position in the cultivated meat sector.
Steakholder Foods (Nasdaq: STKH) has received its first grant for developing 3D-printed eel and grouper products in collaboration with Umami Meats. Funded by the Singapore Israel Industrial R&D Foundation, this initiative marks a significant step in the company’s commercialization strategy for 2023. The project will utilize Steakholder's proprietary 3D bio-printing technology to create structured cultivated fish products, with the first prototype expected by Q1 2023. This partnership leverages regulatory approval in Singapore for cultivated meat.
Steakholder Foods Ltd. (Nasdaq: STKH) recently shared a letter from CEO Arik Kaufman, summarizing its 2022 achievements and outlining plans for 2023. Despite market challenges, the company made significant strides in 3D bio-printing and secured partnerships, including one with Umami Meats for 3D-printed fish. The company plans to enhance its technology and pursue FDA and USDA approvals for its products in the US and Singapore. A key highlight was the introduction of Omakase Beef Morsels, a breakthrough in cultivated meat. Steakholder Foods aims to commercialize its tech effectively in 2023.
Steakholder Foods Ltd. (Nasdaq: STKH) announced its strategic focus for 2023 on commercializing its 3D bio-printer through partnerships. The company aims to leverage interest generated from world tours showcasing its prototype to accelerate its go-to-market strategy. Key initiatives include hiring new executives in business development and marketing to facilitate collaborations. The company, committed to sustainable food production, aims to provide slaughter-free alternatives to traditional meat production.
Steakholder Foods Ltd. (Nasdaq: STKH) has developed a temperature-controlled print bed for its industrial-scale 3D printers, marking a significant advancement in the mass production of cultivated meat. This system utilizes contactless electromagnetic power alongside a wireless communication module to maintain optimal temperatures, essential for printing live cell products. CEO Arik Kaufman highlighted this achievement as crucial for scalable production. The company, committed to sustainable food solutions, continues to innovate in the cultured meat sector.
Steakholder Foods (Nasdaq: STKH) reported its Q3 2022 financial results, highlighting advancements in cultivated meat technology and increased R&D investments. The company recorded an operating loss of $4.6 million, a slight increase from $4.1 million in Q3 2021. Comprehensive loss narrowed to $3.4 million, or $0.17 per ADS, compared to $4.3 million the prior year. Cash and cash equivalents decreased to $11.2 million. Key collaborations, including a partnership with Umami Meats, and several new patents strengthen their market position, while rebranding efforts aim to attract a community of meat lovers.
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