Steakholder Foods® Initiates Life-Cycle Assessment (LCA) Process for its 3D Bioprinter, Supported by Government Grant

Rhea-AI Summary

Steakholder Foods Ltd. (Nasdaq: STKH) is embarking on a comprehensive Life-Cycle Assessment (LCA) process and scenario analysis, subsidized by the Israel Resource Efficiency Center. The LCA is aligned with the Company's strategic objective of advancing its 3D printing technology towards commercialization, aiming to streamline operations, increase productivity, and optimize production processes.

Positive

• Steakholder Foods is committed to innovation and sustainability, seeking opportunities to enhance its processes.
• The LCA process is expected to result in a comprehensive plan to guide management decisions and refine the Company's sustainability strategy.
• The analysis will support the development of a strategic roadmap to align the Company with regulatory standards and global sustainable development goals.

Negative

• None.

REHOVOT, Israel, Nov. 29, 2023 /PRNewswire/ -- Steakholder Foods Ltd. (Nasdaq: STKH), an international deep-tech food company at the forefront of the cultivated meat industry, announces that it is embarking on a comprehensive Life-Cycle Assessment (LCA) process and scenario analysis, with the backing of the government-funded Israel Resource Efficiency Center. The LCA, which is directly aligned with the Company's strategic objective of advancing its 3D printing technology towards commercialization, is being subsidized as part of a government plan to assist manufacturing plants in both cost savings and sustainability efforts.

 

 

As a company committed to innovation and sustainability, Steakholder Foods consistently seeks opportunities to enhance its processes. The LCA process is designed to result in a comprehensive plan aimed at streamlining operations, increasing productivity, and optimizing production processes. The analysis is expected to support the development of a strategic roadmap that will help guide decisions to be taken by the Company's management while refining and bolstering the Company's sustainability strategy, helping to align the Company with regulatory standards and support for global sustainable development goals.

Avraham Hampel, VP Corporate Development, stated, "The LCA is the first step in Steakholder Foods' two-pronged approach to sustainability and ESG considerations, aiming for compliance in an evolving regulatory landscape, while improving process efficiency at all stages of production of our novel 3D bioprinting products."

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," 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.

Logo: https://mma.prnewswire.com/media/1871733/Steakholder_Foods_Ltd_logo.jpg

Press contact: 
Maissa Dauriac 
Rainier Communications 
mdauriac@rainierco.com

Investor contact: 
Steakholder Foods 
investors@steakholderfoods.com

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SOURCE Steakholder Foods Ltd.

FAQ

What is Steakholder Foods Ltd.'s ticker symbol?

The ticker symbol for Steakholder Foods Ltd. is Nasdaq: STKH.

What is the purpose of the Life-Cycle Assessment (LCA) process embarked on by Steakholder Foods Ltd.?

The LCA process aims to streamline operations, increase productivity, and optimize production processes in line with the Company's strategic objective of advancing its 3D printing technology towards commercialization.

Who is subsidizing the LCA process for Steakholder Foods Ltd.?

The LCA process is being subsidized by the Israel Resource Efficiency Center as part of a government plan to assist manufacturing plants in cost savings and sustainability efforts.

What is the objective of Steakholder Foods Ltd.'s sustainability strategy?

The sustainability strategy aims for compliance in an evolving regulatory landscape and improving process efficiency at all stages of production of the Company's novel 3D bioprinting products.