Steakholder Foods® Foods Announces Submission of Its 2024 UN Global Compact Communication on Progress

Rhea-AI Summary

Steakholder Foods (Nasdaq: STKH), a leader in alternative proteins and 3D printing technologies, has submitted its 2024 Communication on Progress (CoP) report to the United Nations Global Compact (UNGC). The report covers the company's progress from January to December 2023 in integrating the UNGC's Ten Principles and Sustainable Development Goals.

Key highlights include:

• Enhanced sustainability initiatives
• Reinforced role in promoting food security
• Commitment to responsible business practices

Steakholder Foods has been a UNGC signatory since 2022, aligning its operations with principles covering human rights, labor, environment, and anti-corruption. CEO Arik Kaufman emphasized the company's dedication to sustainable innovation in the food industry.

Positive

• Submission of the 2024 UN Global Compact Communication on Progress report
• Focus on enhancing sustainability initiatives
• Reinforcing role in promoting food security
• Commitment to integrating UNGC's Ten Principles across operations

Negative

• None.

Report Details Company’s Dedication to Sustainable Business Practices and Ethical Standards

Rehovot, Israel, July 29, 2024 (GLOBE NEWSWIRE) -- Steakholder Foods Ltd. (Nasdaq: STKH), a leading innovator in alternative proteins production and 3D printing production technologies, proudly announces the submission of its Communication on Progress (CoP) for January-December 2023, to the United Nations Global Compact (UNGC), the world’s largest initiative for responsible corporate governance. The report highlights the Company’s annual progress on integrating the UNGC’s Ten Principles for responsible business practices and Sustainable Development Goals. This year, the Company has focused on enhancing its sustainability initiatives and reinforcing its role in promoting food security.

Steakholder Foods has been a proud signatory of the UNGC since 2022 and the Company’s 2024 CoP report can be found here.

The UNGC is a voluntary framework for businesses to align their operations and strategies with Ten Principles for responsible business practices covering human rights, labor, environment and anti-corruption. As a signatory, a company must submit a CoP to the UNGC on an annual basis.

Arik Kaufman, CEO of Steakholder Foods commented: "We are committed to integrating the UN Global Compact's Ten Principles across all aspects of our operations. Our 2024 CoP report showcases our efforts to contribute to the Sustainable Development Goals and promote sustainable innovation in the food industry."

About Steakholder Foods

Steakholder Foods is at the forefront of transforming the alternative protein industries through its advanced technology. Founded in 2019, Steakholder Foods specializes in developing and selling 3D-printing production machines, supported by proprietary premix blends, formulated from the highest-quality raw ingredients. These innovative tools are designed to help manufacturers of all sizes efficiently produce foods that meet and exceed consumer expectations for taste, texture, and appearance and offer a safe and sustainable alternative to industrialized meat and seafood production.

Steakholder Foods’ expertise in creating alternative proteins products that replicate the complex textures of traditional meats such as beef steaks, white fish, shrimp, and eel. The company is also exploring the integration of cultivated cells, preparing for future advancements in food technology.

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 the technologies which it is developing, which may require significant additional work before Steakholder Foods can potentially launch commercial sales; Steakholder Foods’ research and development activities associated with printing technologies, including three-dimensional food printing, 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, 2023, filed with the Securities and Exchange Commission on April 30, 2024.  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:	Investor Contacts:
Maissa Dauriac  Rainier Communications  mdauriac@rainierco.com    Tel: +1-818-642-5257	Steakholder Foods  Investors@steakholderfoods.com

FAQ

What is Steakholder Foods' (STKH) latest sustainability initiative?

Steakholder Foods (STKH) has submitted its 2024 Communication on Progress report to the UN Global Compact, highlighting its progress in integrating sustainable business practices and ethical standards throughout 2023.

How is Steakholder Foods (STKH) contributing to food security?

Steakholder Foods (STKH) is reinforcing its role in promoting food security through its innovative alternative proteins production and 3D printing technologies, as highlighted in its 2024 UN Global Compact report.

When did Steakholder Foods (STKH) become a signatory of the UN Global Compact?

Steakholder Foods (STKH) has been a signatory of the UN Global Compact since 2022, committing to align its operations with the Ten Principles for responsible business practices.

What are the focus areas of Steakholder Foods' (STKH) 2024 UN Global Compact report?

Steakholder Foods' (STKH) 2024 report focuses on enhancing sustainability initiatives, reinforcing food security, and integrating the UNGC's Ten Principles covering human rights, labor, environment, and anti-corruption.