MeaTech believes the collaboration will produce
game-changing hybrid alternative meat products
that are delicious, nutritious and better resemble
conventional meat
REHOVOT, Israel, May 19, 2022
/PRNewswire/ -- MeaTech 3D Ltd. (Nasdaq: MITC), an international
deep-tech food company at the forefront of the cultured meat
industry, is pleased to announce that its wholly owned Belgian
subsidiary, Peace of Meat, has signed a joint development agreement
with ENOUGH, a leader in the field of mycoprotein, a fungi-based
fermented food ingredient. The collaboration aims to accelerate
MeaTech's go-to-market strategy for hybrid products.
This innovative initiative will combine Peace of Meat's unique
expertise in cultured avian development with ENOUGH's cutting-edge
mycoprotein ingredient to create game-changing hybrid alternative
meat products. Cultured avian fat biomass will provide the
signature flavors, aromas and textures of conventional meat.
ENOUGH's mycoprotein will add high nutritional value with rich
protein and fiber content and essential amino acids, zinc and
iron.
At a recent MeaTech tasting event, MeaTech's chef prepared
hybrid chicken nuggets that included Peace of Meat's cultured
chicken fat biomass. The feedback from attendees, which included
prominent food industry investors, was unanimously positive. Last
September, Peace of Meat successfully produced 700 grams of pure
cultured chicken fat biomass in a single production run.
On the heels of that breakthrough, a pilot plant and R&D
facility in Belgium are planned to
begin scaled-up production in 2023.
ENOUGH will also have its flagship pilot plant in the south of
the Netherlands not far from Peace
of Meat's facility. The companies' shared product vision and
commercialization goals make this an ideal partnership for bringing
innovative and sustainable new products to the hybrid food
market.
Dirk von Heinrichshorst, CEO of Peace of Meat, said:
"This joint venture with ENOUGH is a milestone toward advancing our
vision to use cultured fat biomass as an ingredient for developing
delicious and innovative hybrid food products that better mimic
farm-raised meat."
Arik Kaufman, CEO of MeaTech,
said: "We are excited to sign a collaboration agreement
with ENOUGH, a global leader in mycoprotein as an ingredient, to
accelerate our commercialization of next-generation meat
substitutes — hybrid products with cultured fat biomass. These
game changing, primarily plant-based products promise to offer
a meatier taste and mouthfeel that is closer to conventional meat
products."
Jim Laird, CEO of ENOUGH,
said: "We believe that the future of sustainable protein will
include a mix of plant- fermentation- and cell-based products.
Therefore, we are delighted to combine our fermented biomass with
the cultured chicken fat biomass being developed by MeaTech's
subsidiary, Peace of Meat."
About MeaTech
MeaTech 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 "MITC". MeaTech maintains facilities in Rehovot,
Israel and Antwerp, Belgium and is in the process of
expanding activities to California,
USA. The company believes cultivated meat technologies hold
significant potential to improve meat production, simplify the meat
supply chain, and offer consumers a range of new product
offerings.
MeaTech aims to provide an alternative to industrialized animal
farming that dramatically reduces carbon footprint, minimizes water
and land usage, and prevents the slaughtering of animals. With a
modular factory design, MeaTech aims to offer a sustainable
solution for producing a variety of beef, chicken and pork
products, both as raw materials and whole cuts.
For more information, please visit: https://meatech3d.com
About ENOUGH
ENOUGH (formerly 3F BIO) is a food-tech company with technology
to grow the most sustainable source of food protein.
ENOUGH is pioneering high-scale sustainable protein production
to tackle the combined issues of feeding a growing global
population and the unsustainable impact of traditional protein
farming.
ENOUGH grows non-animal protein by fermenting fungi using
renewable feedstocks to grow the most sustainable source of food
protein. This produces ABUNDA® mycoprotein, a complete food
ingredient that contains all essential amino acids and is high in
dietary fiber. It is versatile and can be made into
alternative/vegan meat, seafood and dairy products.
ENOUGH is a semi-finalist in "XPRIZE Feed the Next Billion," a
$15M prize competition which targets
scalable whole cut alternatives that mimic animal protein. The
company is already producing whole muscle chicken formats that it
demonstrated earlier this year at a tasting for 1,000 guests at
Future Food Tech in San
Francisco.
The company has 50+ employees, spanning 17 nationalities located
in Scotland, England and the
Netherlands. ENOUGH is building a first-of-its-kind
mycoprotein factory (60,000 metric-ton capacity) which will
initially grow 10,000 metric tons per annum and be operational
later this year.
The company will supply ABUNDA mycoprotein as a B2B food
ingredient to consumer brands and retailers, addressing the need
for high-scale supply of healthy and sustainable protein to address
a rapidly growing market.
For more information about ENOUGH, please visit:
http://www.enough-food.com.
Forward-Looking Statements
This press release contains forward-looking statements
concerning MeaTech's business, operations and financial performance
and condition as well as plans, objectives, and expectations for
MeaTech's 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 MeaTech's 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 MeaTech's 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, MeaTech's expectations regarding the success of its
cultured meat manufacturing technologies it is developing, which
will require significant additional work before MeaTech can
potentially launch commercial sales; MeaTech's research and
development activities associated with technologies for cultured
meat manufacturing, including three-dimensional meat production,
which involves a lengthy and complex process; MeaTech's 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 MeaTech's Annual Report on Form 20-F
for the fiscal year ended December 31,
2021, filed with the Securities and Exchange Commission on
March 24, 2022. New risks and
uncertainties may emerge from time to time, and it is not possible
for MeaTech to predict their occurrence or how they will affect
MeaTech. If one or more of the factors affecting MeaTech's
forward-looking information and statements proves incorrect, then
MeaTech's 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, MeaTech cautions you not to place undue reliance on its
forward-looking information and statements. MeaTech 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.
MeaTech Press
Contact:
|
MeaTech Investor
Contacts:
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Maissa
Dauriac
Rainier Communications
mdauriac@rainierco.com
|
Joseph Green
Edison Group
jgreen@edisongroup.com
|
Ehud Helft
Edison Israel
ehelft@edisongroup.com
|
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SOURCE MeaTech 3D Ltd.