Peace of Meat's cultured avian capabilities put the
company on a clear path toward commercialization in the hybrid
foods market
REHOVOT, Israel, July 5, 2022
/PRNewswire/ -- MeaTech 3D Ltd. (Nasdaq: MITC) ("MeaTech"), an
international deep-tech food company at the forefront of the
cultured meat industry, is pleased to announce that Peace of Meat,
the company's Belgian wholly-owned subsidiary, has established a
stable and unique avian cell line with a clear upscaling path.
Peace of Meat is a cultured avian company that develops 100%
non-GMO cultured meat products that are microcarrier free. The
company plans to commercialize its products in the emerging hybrid
foods market through collaborations with the meat industry and with
other alternative protein companies to produce a range of
sustainable hybrid products that combine plant-based ingredients
with cultured avian biomass.
In May 2022, Peace of Meat signed
a joint development agreement with ENOUGH, a leader in the field of
mycoprotein, a fungi-based fermented food ingredient. The
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.
In September 2021, Peace of Meat
successfully produced 700 grams of cultured chicken fat biomass in
a single production run. The company plans to establish a pilot
plant and R&D facility in Belgium to begin scaled-up production in 2023.
The plan includes the use of serum-free cell lines.
Peace of Meat was founded in August
2019, acquired by MeaTech 3D in 2021 for approximately
$20 million, and has invested close
to $7.5 million in cultured avian
technology development.Dirk
Standaert, Peace of Meat's Chief Executive Officer: "We
are moving forward with a clear R&D and go-to-market strategy.
We have established a superior cell platform for the
industrialization of cultured meat products that allows us to
develop tasty, nutritious cultured avian products made
sustainably."
Arik Kaufman, MeaTech's Chief
Executive Officer: "We are proud of Peace of Meat's
achievements and their accelerated path toward commercialization in
the hybrid foods market, a sector with tremendous potential."
View Peace of Meat's one pager:
https://meatech3d.com/events-presentations
About MeaTech
MeaTech 3D Ltd. is an international deep-tech food company at
the forefront of the cultured meat revolution. The company
initiated activities in 2019 and is listed on the Nasdaq Capital
Market under the ticker "$MITC". MeaTech maintains facilities in
Rehovot, Israel and Antwerp, Belgium and is in the process of
expanding activities to the US.
MeaTech is developing a sustainable,
slaughter-free solution for producing a variety of beef,
chicken and pork products, both as raw materials and whole cuts.
The company's approach to meat production and modular factory
design will provide an alternative to industrialized animal farming
with the potential to enhance food security, reduce carbon
footprint, and minimize water and land usage.
For more information, please visit:
https://meatech3d.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.
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MeaTech Press
Contact:
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MeaTech Investor
Contacts:
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Maissa
Dauriac
Rainier Communications
mdauriac@rainierco.com
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Joseph Green
Edison Group
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Ehud Helft
Edison Israel
ehelft@edisongroup.com
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SOURCE MeaTech 3D Ltd.