Steakholder Foods® Shares Letter from the CEO, Arik Kaufman
Steakholder Foods (Nasdaq: STKH), a leader in alternative proteins and 3D printing technologies, has shared a letter from CEO Arik Kaufman highlighting recent commercial milestones and the company's transition to revenue generation. Key achievements include:
1. First purchase orders from Bondor Foods for SH™ – Fish premix blends and Wyler Farm for SH™ - Beef premix blends.
2. Opening of a full-scale Demonstration Center showcasing 3D printing technologies.
3. Ongoing collaborations with ITRI and Sherry Herring Sandwiches
4. Participation in upcoming industry events like 'Plant-Based World Expo' in London.
The company anticipates substantial revenue growth in 2025 as initial agreements take full effect and new partnerships are formed. Steakholder Foods remains focused on executing existing commercial agreements, securing new ones, and continuing to innovate in the alternative protein sector.
Steakholder Foods (Nasdaq: STKH), leader nelle proteine alternative e nelle tecnologie di stampa 3D, ha condiviso una lettera del CEO Arik Kaufman che evidenzia recenti traguardi commerciali e la transizione dell'azienda verso la generazione di ricavi. I principali traguardi includono:
1. Prime ordinazioni da Bondor Foods per i miscelatori premix SH™ – pesce e da Wyler Farm per i miscelatori premix SH™ - manzo.
2. Apertura di un centro dimostrativo su larga scala che mostra le tecnologie di stampa 3D.
3. Collaborazioni in corso con ITRI e Sherry Herring Sandwiches.
4. Partecipazione a eventi del settore nei prossimi mesi come il 'Plant-Based World Expo' a Londra.
L'azienda prevede una crescita sostanziale dei ricavi nel 2025, man mano che gli accordi iniziali entreranno in pieno effetto e si formeranno nuove partnership. Steakholder Foods rimane concentrata sull'esecuzione degli accordi commerciali esistenti, sull'acquisizione di nuovi e sulla continua innovazione nel settore delle proteine alternative.
Steakholder Foods (Nasdaq: STKH), líder en proteínas alternativas y tecnologías de impresión 3D, ha compartido una carta del CEO Arik Kaufman destacando recientes hitos comerciales y la transición de la empresa hacia la generación de ingresos. Los logros clave incluyen:
1. Primeras órdenes de compra de Bondor Foods para mezclas premix SH™ – pescado y de Wyler Farm para mezclas premix SH™ - carne de res.
2. Apertura de un centro de demostración a gran escala que muestra las tecnologías de impresión 3D.
3. Colaboraciones en curso con ITRI y Sherry Herring Sandwiches.
4. Participación en próximos eventos de la industria como 'Plant-Based World Expo' en Londres.
La empresa anticipa un crecimiento sustancial de ingresos en 2025 a medida que los acuerdos iniciales entren en plena vigencia y se formen nuevas asociaciones. Steakholder Foods se mantiene enfocada en ejecutar los acuerdos comerciales existentes, asegurar nuevos y continuar innovando en el sector de las proteínas alternativas.
스테이크홀더 푸드 (Nasdaq: STKH)는 대체 단백질과 3D 프린팅 기술의 선두 주자로, CEO 아리크 카우프만의 서신을 통해 최근 상업적 이정표와 수익 창출로의 전환을 강조했습니다. 주요 성과에는:
1. Bondor Foods로부터의 첫 구매 주문 SH™ – 생선 혼합물 및 Wyler Farm에서의 SH™ - 소고기 혼합물.
2. 3D 프린팅 기술을 선보이는 대규모 시연 센터 개소.
3. ITRI 및 Sherry Herring Sandwiches와의 지속적인 협력.
4. 런던에서 열리는 'Plant-Based World Expo'와 같은 다가오는 산업 이벤트 참여.
회사는 초기 계약이 본격적으로 시행되고 새로운 파트너십이 형성됨에 따라 2025년에 상당한 수익 성장을 예상하고 있습니다. 스테이크홀더 푸드는 기존 상업 계약을 이행하고 새로운 계약을 확보하며 대체 단백질 분야에서 계속해서 혁신하는 데 집중하고 있습니다.
Steakholder Foods (Nasdaq: STKH), un leader dans les protéines alternatives et les technologies d'impression 3D, a partagé une lettre du PDG Arik Kaufman soulignant les récents jalons commerciaux et la transition de l'entreprise vers la génération de revenus. Les réalisations clés incluent:
1. Premières commandes d'achat de Bondor Foods pour des mélanges pré-mélangés SH™ – poisson et de Wyler Farm pour des mélanges pré-mélangés SH™ - bœuf.
2. Ouverture d'un centre de démonstration à grande échelle présentant les technologies d'impression 3D.
3. Collaborations en cours avec ITRI et Sherry Herring Sandwiches.
4. Participation à de futurs événements de l'industrie comme le 'Plant-Based World Expo' à Londres.
L'entreprise anticipe une croissance substantielle des revenus en 2025 alors que les accords initiaux entreront pleinement en vigueur et que de nouveaux partenariats seront formés. Steakholder Foods reste concentrée sur l'exécution des accords commerciaux existants, la sécurisation de nouveaux accords et la poursuite de l'innovation dans le secteur des protéines alternatives.
Steakholder Foods (Nasdaq: STKH), führend in alternativen Proteinen und 3D-Drucktechnologien, hat einen Brief von CEO Arik Kaufman veröffentlicht, in dem die jüngsten kommerziellen Meilensteine und der Übergang des Unternehmens zur Einnahmengenerierung hervorgehoben werden. Zu den wichtigsten Erfolgen gehören:
1. Erste Bestellungen von Bondor Foods für SH™ – Fisch-Premix-Mischungen und von Wyler Farm für SH™ - Rindfleisch-Premix-Mischungen.
2. Eröffnung eines vollwertigen Demonstrationszentrums, das 3D-Drucktechnologien präsentiert.
3. Laufende Kooperationen mit ITRI und Sherry Herring Sandwiches.
4. Teilnahme an bevorstehenden Branchenveranstaltungen wie der 'Plant-Based World Expo' in London.
Das Unternehmen rechnet im Jahr 2025 mit einem erheblichen Umsatzwachstum, da die ersten Vereinbarungen voll zur Wirkung kommen und neue Partnerschaften gebildet werden. Steakholder Foods bleibt fokussiert auf die Umsetzung bestehender Geschäftsvereinbarungen, die Sicherung neuer Vereinbarungen und die kontinuierliche Innovation im Bereich alternativer Proteine.
- Secured first purchase orders from Bondor Foods and Wyler Farm, marking the beginning of revenue generation
- Opened a full-scale Demonstration Center to showcase 3D printing technologies to potential clients and partners
- Ongoing collaborations with ITRI and Sherry Herring Sandwiches for product development and market expansion
- Anticipates substantial revenue growth in 2025 as initial agreements take full effect
- Initial revenue for 2024 will be minimal
Insights
Steakholder Foods' transition from development to commercialization marks a significant milestone. The company has secured its first purchase orders from Bondor Foods and Wyler Farm , signaling the start of revenue generation. While initial revenue is expected to be minimal in 2024, these agreements lay the groundwork for potential substantial growth in 2025.
The company's strategic partnerships and product development efforts span various alternative protein categories, including plant-based fish and beef products. The opening of a full-scale Demonstration Center and participation in industry events like the "Plant-Based World Expo" demonstrate a proactive approach to market expansion.
However, investors should note that the company is still in early stages of commercialization. The transition to profitability and scalability of operations will be critical factors to monitor. The alternative protein market is competitive and Steakholder Foods will need to differentiate itself through its proprietary 3D printing technology and premix blends to capture significant market share.
The alternative protein market is experiencing rapid growth and Steakholder Foods is positioning itself strategically within this sector. The company's partnerships with established players like Bondor Foods and Wyler Farm provide access to existing distribution networks, potentially accelerating market penetration.
The focus on both plant-based seafood and meat alternatives demonstrates diversification, which could help mitigate risks associated with market preferences. The collaboration with ITRI in Taiwan also indicates a global expansion strategy, particularly targeting Asian markets where demand for alternative proteins is rising.
The company's Demonstration Center is a smart move, allowing potential clients to experience the technology firsthand. This could be a powerful tool for customer acquisition and building trust in their innovative 3D printing process. However, consumer acceptance of 3D-printed food products remains to be seen on a large scale, presenting both an opportunity and a challenge for Steakholder Foods.
Letter highlights recent commercial milestones, transition to revenue generation, and growth outlook for 2025
Rehovot, Israel, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Steakholder Foods Ltd. (Nasdaq: STKH) (the “Company”), a leading innovator in alternative proteins and 3D printing technologies, shared a letter from the CEO Arik Kaufman detailing recent commercial milestones, the Company’s transition to initial recurring revenue, and its growth outlook for 2025.
The letter
Dear Steakholder,
I am pleased to provide an overview of the meaningful progress we have made in our commercialization efforts and progress towards consistent revenue generation. Building upon our achievements from the first half of the year, we have reached several key milestones that demonstrate both the accelerating consumer adoption of plant-based food alternatives and the growing market acceptance of our innovative technology. These developments further solidify our position in the alternative protein sector and mark the beginning of an exciting new chapter for our company.
A highlight of our recent progress has been securing our first purchase orders under agreements with two key industry players: Bondor Foods Ltd., a manufacturer and institutional market distributor, and Wyler Farm Ltd., an alternative protein producer. These orders represent a pivotal moment for our company, marking the inception of our revenue streams and affirming the commercial viability of our offerings..
Our commercial sales agreement with Bondor Foods Ltd., a sister company of Premazon, has yielded its first tangible results. Following the successful completion of a product development phase with Premazon announced earlier this year, we have received our first purchase order from Bondor Foods for our proprietary SH™ – Fish premix blends. . While the initial revenue will be minimal for this year, this achievement is a crucial validation of our commercialization strategy and sets the stage for potentially significant future sales. Our agreement with Bondor Foods involves integrating our premix into their new line of plant-based white fish and salmon patties. These innovative products are set to reach the market by the end of 2024, leveraging Bondor’s existing extensive distribution network.
Building on our commercial momentum, we recently announced another significant milestone: a purchase order from Wyler Farm for our SH™ - Beef premix blends. This order stems from the commercial cooperation agreement we signed in May 2024 and is for the development of a new line of plant-based meatballs, burgers, and minced beef for release by early 2025. This second purchase order underscores our versatility in meeting diverse needs across the alternative protein sector, from seafood to meat substitutes. Following the successful launch, we will work with Wyler Farm to produce an additional product line using our proprietary 3D printing technology and premix blends, including manufacturing printed beef steaks.
In addition to these exciting new developments, we continue to make progress with our previously announced partnerships with the Industrial Technology Research Institute (ITRI), a Taiwan-based world-leading applied technology research institute, and Sherry Herring Sandwiches Ltd, a highly-recognized gourmet fish delicacies brand. Our collaboration with ITRI, initiated in May, continues to drive our expansion in Taiwan, focused on developing products tailored to local tastes.
To support our commercialization efforts, we have opened our first full-scale Demonstration Center, a state-of-the-art facility that showcases our groundbreaking 3D printing technologies in action. This center features live demonstrations of our MX200 and HD144 printers, allowing potential clients and partners to experience firsthand the entire production process of our plant-based meat and seafood alternatives. Built to food production facility standards, the center enables visitors to observe every step from material preparation through production and packaging, culminating in tasting sessions that highlight the quality and versatility of our products. Furthermore, we are promoting global marketing efforts and will showcase our offerings at major industry events, including “Plant-Based World Expo” in London this November.
As we look ahead, our focus remains steadfast on:
- Executing our existing commercial agreements and securing new ones
- Leveraging our Demonstration Center to engage potential partners
- Supporting our partners as they scale production using our technology
- Continuing to innovate and expand our product portfolio
With our transition from development to commercialization now underway and our first revenue milestone achieved, we are entering a new phase in our company's journey. The strategic partnerships, commercial advancements, and our first recurring revenue streams lay a solid foundation for our future growth and commercialization efforts. Looking forward to 2025, we anticipate generating substantial revenue growth as our initial agreements take full effect and we attract interest from additional market participants. We remain committed to creating long-term value for our stakeholders while contributing to a more sustainable food system.
Thank you for your continued support and belief in our vision. Your belief in our mission drives us to push the boundaries of what's possible in the food industry. I look forward to sharing more developments as we continue our journey of growth and innovation.
Yours truly,
Arik Kaufman
CEO of Steakholder Foods
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: Maissa Dauriac Rainier Communications mdauriac@rainierco.com Tel: +1-818-642-5257 | Investor Contacts: Steakholder Foods Investors@steakholderfoods.com |
FAQ
What are the recent commercial milestones achieved by Steakholder Foods (STKH)?
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What products is Steakholder Foods (STKH) developing with Bondor Foods and Wyler Farm?
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