Steakholder Foods Signs Six Commercial LOIs with International Players; Receives Prestigious Industry Awards
Steakholder Foods (Nasdaq: STKH) has signed six Letters of Intent (LOIs) with international companies, marking progress in its revenue generation transition. The agreements emerged from the Plant-Based World Expo in London, where the company showcased its 3D printing systems and plant-based premixes. At the expo, Steakholder Foods received three prestigious awards: Gold for its Salmon Patty, Silver for Fish Kebab, and Bronze for Beef Alternative. The company served over 2,000 tasting dishes at the event, generating significant interest. The LOIs involve anticipated sales of advanced 3D printing systems and proprietary premix blends for producing plant-based foods.
Steakholder Foods (Nasdaq: STKH) ha firmato sei Lettere di Intento (LOI) con aziende internazionali, segnando un progresso nella sua transizione verso la generazione di entrate. Gli accordi sono emersi dall'Plant-Based World Expo di Londra, dove l'azienda ha presentato i suoi sistemi di stampa 3D e premiscelati a base vegetale. Durante l'expo, Steakholder Foods ha ricevuto tre prestigiosi premi: Oro per il suo Salmon Patty, Argento per il Fish Kebab e Bronzo per l'alternativa di manzo. L'azienda ha servito oltre 2.000 piatti degustativi all'evento, generando un notevole interesse. Le LOI riguardano vendite previste di sistemi di stampa 3D avanzati e miscele di premiscelati proprietari per la produzione di alimenti a base vegetale.
Steakholder Foods (Nasdaq: STKH) ha firmado seis Cartas de Intención (LOIs) con empresas internacionales, marcando un progreso en su transición hacia la generación de ingresos. Los acuerdos surgieron de la Plant-Based World Expo en Londres, donde la empresa mostró sus sistemas de impresión 3D y premixes a base de plantas. En la expo, Steakholder Foods recibió tres premios prestigiosos: Oro por su Salmon Patty, Plata por el Fish Kebab y Bronce por la alternativa de carne de res. La empresa sirvió más de 2,000 platos de degustación en el evento, generando un gran interés. Las LOIs involucran ventas anticipadas de sistemas avanzados de impresión 3D y mezclas propietarias de premixes para la producción de alimentos a base de plantas.
스테이크홀더 푸드(Stakeholder Foods) (Nasdaq: STKH)는 국제 기업들과 6개의 의향서(LOIs)를 체결하여 수익 창출 전환에서 진전을 이뤘습니다. 이 계약들은 런던의 식물 기반 세계 엑스포에서 이루어졌으며, 이곳에서 회사는 3D 프린팅 시스템과 식물 기반 프리믹스를 선보였습니다. 엑스포에서 스테이크홀더 푸드는 연어 패티로 금상, 생선 케밥으로 은상, 대체 소고기로 동상 등 세 가지의 권위 있는 상을 받았습니다. 회사는 행사에서 2,000개 이상의 시식 요리를 제공하며 큰 관심을 이끌었습니다. 의향서는 고급 3D 프린팅 시스템과 식물 기반 식품 생산을 위한 독점적인 프리믹스 혼합물의 판매를 포함합니다.
Steakholder Foods (Nasdaq: STKH) a signé six Lettres d'Intention (LOIs) avec des entreprises internationales, marquant des progrès dans sa transition vers la génération de revenus. Les accords ont été conclus lors de l'Plant-Based World Expo à Londres, où l'entreprise a présenté ses systèmes d'impression 3D et pré-mélanges à base de plantes. Lors de l'exposition, Steakholder Foods a reçu trois prix prestigieux : Or pour son Salmon Patty, Argent pour le Fish Kebab et Bronze pour l'alternative de bœuf. L'entreprise a servi plus de 2 000 plats de dégustation lors de l'événement, générant un intérêt significatif. Les LOIs concernent des ventes anticipées de systèmes avancés d'impression 3D et de mélanges de pré-mélanges propriétaires pour la production d'aliments à base de plantes.
Steakholder Foods (Nasdaq: STKH) hat sechs Absichtserklärungen (LOIs) mit internationalen Unternehmen unterzeichnet, was einen Fortschritt in seinem Übergang zur Umsatzgenerierung markiert. Die Vereinbarungen entstanden auf der Plant-Based World Expo in London, wo das Unternehmen seine 3D-Drucksysteme und pflanzenbasierten Premixes präsentierte. Auf der Messe erhielt Steakholder Foods drei prestigeträchtige Auszeichnungen: Gold für seinen Salmon Patty, Silber für den Fish Kebab und Bronze für die Rinderalternative. Das Unternehmen servierte über 2.000 Verkostungsgerichte bei der Veranstaltung und erzeugte erhebliches Interesse. Die LOIs betreffen die erwarteten Verkäufe von hochmodernen 3D-Drucksystemen und proprietären Premix-Mischungen für die Herstellung pflanzenbasierter Lebensmittel.
- Secured six new commercial Letters of Intent (LOIs) for potential sales
- Won three industry awards at Europe's largest plant-based exposition
- Strong market demand demonstrated by serving 2,000+ tasting dishes at expo
- Expanding international market presence in alternative protein sector
- LOIs are non-binding agreements, representing potential rather than confirmed sales
- Company still in transition phase to revenue generation
Insights
The signing of six commercial LOIs marks a strategic shift but requires cautious interpretation. While LOIs indicate market interest, they are non-binding and conversion to actual revenue remains uncertain. The awards received at Plant-Based World Expo demonstrate product validation, particularly in the competitive plant-based seafood category where differentiation is crucial.
The company's dual revenue strategy combining 3D printing systems and proprietary premixes could create recurring revenue streams. However, the alternative protein market faces challenges including consumer adoption rates and pricing pressures. The 2000 tasting samples distributed at the expo suggests strong initial interest, but conversion metrics and deal terms will be critical for evaluating actual business impact.
Steakholder Foods announces commercial milestones with multiple global players highlighting its accelerating growth strategy and transition to revenue-generation; Receives professional industry recognition for its innovative products
Rehovot, Israel, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Steakholder Foods Ltd. (Nasdaq: STKH) (“Steakholder” or the “Company”), a leading innovator in alternative proteins production and 3D printing technologies, announced today the signing of six Letters of Intent (LOIs) with international companies marking another commercial achievement for the Company in its transition to revenue generation. These agreements, which are a result of the outstanding response the company received at the recent Plant-Based World Expo event in London, UK, reflect the strong market demand and commercial viability for Steakholder’s cutting-edge 3D printing systems and proprietary plant-based premixes for alternative proteins.
The company was honored to receive three prestigious awards at the Plant-Based World Expo, the largest plant-based exposition in Europe, highlighting the excellence of its plant-based offerings. Steakholder Foods won the Gold Award for its Salmon Patty, the Silver Award for its Fish Kebab, and the Bronze Award for its Beef Alternative, further establishing its reputation as a leader in innovation within the alternative protein industry. Moreover, the Company was pleased to see the unprecedented excitement from industry players who packed its booth at the Expo, where the Company presented over 2000 tasting dishes.
“The LOIs represent a significant advancement in accelerating commercialization journey,” said Arik Kaufman, CEO of Steakholder Foods. “Securing further commitments from international players not only further validates the appeal of our technology and products, but also supports the growth of our revenue streams. With these agreements, we working to position Steakholder Foods for meaningful revenue growth in the coming years. As we expand globally, we remain dedicated to advancing sustainable, cruelty-free food solutions at scale while creating long-term value for our shareholders. We are committed to delivering commercial value to the industry and are greatly encouraged by the overwhelmingly positive market response we’ve seen recently.”
The six LOIs span various international markets and showcase Steakholder Foods' increasing footprint in the alternative protein sector. Each agreement involves the anticipated sale of the company’s advanced 3D printing systems and/or proprietary premix blends, a combination that enables partners to produce high-quality, scalable plant-based 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.
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FAQ
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