Steakholder Foods® Receives First Purchase Order Under Its Commercial Cooperation Agreement with Wyler Farm
Steakholder Foods has received its first purchase order from Wyler Farm under a commercial cooperation agreement signed in May 2024. This order expands the company's premix revenue stream to include its proprietary SH™ - Beef premix blend. The SH™ - Beef blend will be integrated into Wyler Farm's new plant-based meat products, set for market introduction by early 2025. The initial production phase has started at Wyler Farm's facilities to ensure a successful launch. The new products will be marketed under the brand 'Whaat Meat?! by Steakholder' and distributed through Wyler Farm's channels.
Steakholder Foods ha ricevuto il suo primo ordine di acquisto da Wyler Farm nell'ambito di un accordo di cooperazione commerciale firmato a maggio 2024. Questo ordine amplia il flusso di entrate dell'azienda relativo ai premix, includendo la sua miscela proprietaria SH™ - Beef. La miscela SH™ - Beef sarà integrata nei nuovi prodotti a base vegetale di Wyler Farm, che saranno introdotti sul mercato entro l'inizio del 2025. La fase iniziale di produzione è iniziata presso gli impianti di Wyler Farm per garantire un lancio di successo. I nuovi prodotti saranno commercializzati con il marchio 'Whaat Meat?! by Steakholder' e distribuiti attraverso i canali di Wyler Farm.
Steakholder Foods ha recibido su primer pedido de compra de Wyler Farm bajo un acuerdo de cooperación comercial firmado en mayo de 2024. Este pedido expande la fuente de ingresos por premix de la empresa para incluir su mezcla propietaria SH™ - Beef. La mezcla SH™ - Beef se integrará en los nuevos productos de carne a base de plantas de Wyler Farm, que se lanzarán al mercado a principios de 2025. La fase inicial de producción ha comenzado en las instalaciones de Wyler Farm para asegurar un exitoso lanzamiento. Estos nuevos productos se comercializarán bajo la marca 'Whaat Meat?! by Steakholder' y se distribuirán a través de los canales de Wyler Farm.
스테이크홀더 푸드는 2024년 5월에 체결된 상업적 협력 계약에 따라 와일러 팜으로부터 첫 번째 구매 주문을 받았습니다. 이 주문은 회사의 프리믹스 수익원을 자사의 특허 SH™ - 비프 프리믹스 혼합물로 확장합니다. SH™ - 비프 혼합물은 2025년 초 시장에 출시될 와일러 팜의 새로운 식물 기반 육류 제품에 통합될 예정입니다. 성공적인 출시를 보장하기 위해 와일러 팜의 시설에서 초기 생산 단계가 시작되었습니다. 새로운 제품은 'Whaat Meat?! by Steakholder' 브랜드로 판매되며, 와일러 팜의 유통 채널을 통해 배급됩니다.
Steakholder Foods a reçu sa première commande d'achat de Wyler Farm dans le cadre d'un accord de coopération commerciale signé en mai 2024. Cette commande élargit le flux de revenus de l'entreprise provenant des prémélanges pour inclure son mélange SH™ - Beef, propriétaire. Le mélange SH™ - Beef sera intégré dans les nouveaux produits de viande à base de plantes de Wyler Farm, qui seront introduits sur le marché début 2025. La phase de production initiale a débuté dans les installations de Wyler Farm afin d'assurer un lancement réussi. Les nouveaux produits seront commercialisés sous la marque 'Whaat Meat?! by Steakholder' et distribués par les canaux de Wyler Farm.
Steakholder Foods hat seine erste Bestellung von Wyler Farm im Rahmen einer im Mai 2024 unterzeichneten kommerziellen Kooperationsvereinbarung erhalten. Diese Bestellung erweitert den Umsatzstrom des Unternehmens aus Premixen und umfasst die proprietäre SH™ - Beef-Mischung. Die SH™ - Beef-Mischung wird in die neuen pflanzlichen Fleischprodukte von Wyler Farm integriert, die Anfang 2025 auf den Markt kommen sollen. Die erste Produktionsphase hat in den Einrichtungen von Wyler Farm begonnen, um einen erfolgreichen Start sicherzustellen. Die neuen Produkte werden unter der Marke 'Whaat Meat?! by Steakholder' verkauft und über die Kanäle von Wyler Farm distribuiert.
- First purchase order for SH™ - Beef premix blend received.
- Expands premix revenue stream with new product.
- Initial production phase started, ensuring timely market launch.
- New product line to be marketed under 'Whaat Meat?! by Steakholder'.
- Distribution through Wyler Farm's established channels.
- None.
Insights
This news is moderately positive for Steakholder Foods. The company has received its first purchase order for its SH™ - Beef premix blend from Wyler Farm, expanding its premix revenue stream. This follows a similar order for its fish premix blend earlier this month, indicating growing commercial traction.
Key points:
- Diversification of revenue streams with two different premix products
- Partnership with Wyler Farm for a new plant-based product line
- Potential for recurring revenue as production scales up
- Market launch expected by early 2025
While this is a positive development, investors should note that the financial impact is not yet quantified. The company's market cap of
This development signals Steakholder Foods' entry into the competitive plant-based meat market. The collaboration with Wyler Farm provides several strategic advantages:
- Leveraging Wyler Farm's established distribution channels
- Co-branding opportunity with "Whaat Meat?! by Steakholder"
- Potential for rapid market penetration
The alternative protein sector is projected to grow significantly, with some estimates suggesting a
However, investors should consider the challenges:
- Intense competition from established players
- Consumer acceptance of new plant-based products
- Execution risks in scaling production and maintaining quality
The success of this venture will depend on product quality, pricing and marketing effectiveness. Monitoring initial sales and consumer reception after the 2025 launch will be important for assessing long-term potential.
Company Expands Premix Revenue Stream with Second Purchase Order in the past month
Rehovot, Israel, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Steakholder Foods Ltd. (Nasdaq: STKH) (the “Company”), a leading innovator in alternative proteins and 3D printing technologies, today announced that it has received its first purchase order from Wyler Farm Ltd. under the commercial cooperation agreement signed in May 2024. This order expands Steakholder Foods’ premix revenue stream to include its proprietary SH™ - Beef premix blend, following the Company’s earlier announcement this month of its first premix revenue stream for its SH™ - Fish premix blend.
The purchase order follows the commercial cooperation agreement between Steakholder Foods and Wyler Farm. Under the terms of this agreement, Steakholder Foods will supply its proprietary SH™ - Beef premix blend for integration into Wyler Farm’s new product line of plant-based meatballs, burgers, and minced beef, scheduled for market introduction no later than early 2025. The initial production phase has begun at Wyler Farm’s facilities and will allow Wyler Farm to fine-tune production processes to ensure the products are ready for a successful market launch. The new product line will be marketed and sold under Wyler Farm’s brand - "Whaat Meat?! by Steakholder" and distributed through Wyler Farm’s established distribution channels.
Arik Kaufman, CEO of Steakholder Foods, said: “We are thrilled to see production at Wyler Farm commencing on schedule, keeping planned product rollout on track no later than early 2025. This first order for our SH™ - Beef premix blend, following our recent SH™ - Fish premix blend orderdemonstrates our ability to generate recurring revenue across multiple products and partners. As these initial commercial deals mature in 2025, we expect to see meaningful revenue growth and increased interest from other potential market participants. We remain focused on expanding our commercial presence in the alternative protein sector and are well-positioned to forge additional collaborations.”
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 and seafood. 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
About Wyler Farm
Established in 1994 and recognized as Israel's largest tofu producer, Wyler Farm embodies the pinnacle of innovation in alternative protein production. The company is deeply committed to sustainability and health, offering a broad spectrum of environmentally friendly and nutritious plant-based products. Wyler Farm's product line, emphasizing quality, includes their signature homemade tofu, soft texture tofu, and calcium-enriched tofu. Recently, the company launched a new schnitzel tofu product line. These offerings cater to a diverse range of dietary preferences and are distributed across retail chains, restaurants, and catering companies, fulfilling the evolving demands of health-conscious consumers.
For more information, please visit: https://www.wyler.co.il/en/
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 | Steakholder Foods | |
| Rainier Communications | Investors@steakholderfoods.com | |
| mdauriac@rainierco.com | ||
| Tel: +1-818-642-5257 |
FAQ
What is Steakholder Foods' latest purchase order with Wyler Farm?
When is the new product line from Steakholder Foods and Wyler Farm expected to launch?
What brand will the new plant-based meat products be marketed under?
What is the significance of Steakholder Foods' commercial cooperation agreement with Wyler Farm?
What products will use the SH™ - Beef premix blend?
