Key Takeaways
- Strategic Partnership: Steakholder Foods Ltd. has entered into a royalties and raw materials supply agreement with Wyler Farm Ltd. to commercialize the production of alternative proteins.
- Product Line Expansion: The partnership will initially focus on plant-based minced meat products like burgers, meatballs, and minced meat, with potential future expansion to include sausages and kebab.
- Technology Integration: Wyler Farm will incorporate Steakholder Foods’ unique 3D printing technologies and SHMeat™ premixes into its production processes.
- Revenue Expectations: This collaboration marks Steakholder Foods’ transition from R&D to commercialization, expecting to generate its first commercial revenue by the end of 2024.
- Future Collaborations: Negotiations for a follow-on agreement are underway, which could involve the production of 3D-printed meat products.
Steakholder Foods Ltd. (Nasdaq: STKH), a pioneer in alternative proteins and 3D printing technologies, has announced a significant collaboration with Wyler Farm Ltd., a leader in alternative protein production. This partnership involves a royalties and raw materials supply agreement, where Wyler Farm will utilize Steakholder Foods’ expertise and premixes to manufacture alternative proteins on a commercial scale.
Details of the Agreement
Under the agreement, Wyler Farm will manage the production of a new range of plant-based products, including burgers, meatballs, and minced meat. These products will be made using Steakholder Foods’ proprietary SHMeat™ premixes, which blend plant proteins, fats, fibers, and natural flavors. Production is tentatively set to begin in Q3 2024, with commercial revenues expected by the end of the year.
Technology and Production
Steakholder Foods contributes its advanced production knowledge and unique 3D printing technologies, enhancing the texture and quality of plant-based products. The production machines used are designed to operate within traditional food factories and comply with stringent food safety standards, including those set by the European Hygienic Engineering & Design Group (EHEDG).
Statements from Company Leadership
“This transformative collaboration marks a pivotal milestone for our company – a significant step into generating our first revenue and realizing the immense potential of our technology,” stated Arik Kaufman, CEO of Steakholder Foods. He emphasized the validation of years of research and the company’s position at the forefront of food innovation.
Oleg Kulyava, CEO of Wyler Farm, expressed enthusiasm about the agreement, noting, “Our agreement with Steakholder Foods enables us to significantly broaden our alternative protein product portfolio, reinforcing our goal of producing a broad spectrum of high-quality, plant-based foods.”
Future Directions and Collaborative Potential
The current agreement sets the stage for potential future collaborations, including the production of 3D-printed meat products like Steakholder Foods’ flagship Printed Beef Steak. Discussions for a second-stage follow-on agreement are ongoing, underscoring the strategic and long-term nature of this partnership.
Steakholder Foods Latest News
Steakholder Foods’ Latest Innovation: Plant-Based 3D-Printed Shrimps (2024/01/23)
Steakholder Foods Ltd. has introduced the world’s first plant-based, 3D-printed shrimps. Their high-volume, efficient production method offers an environmentally friendly alternative to conventional shrimp farming, addressing market demand and sustainability concerns. The plant-based shrimps are precision-printed using a shrimp-flavored ink developed by the company’s food technology team. This innovation aligns with the United Nations Sustainable Development Goals, focusing on strengthening food security, reducing carbon footprint, and conserving water and land resources. With plans to deliver its first DropJet printer in 2024, Steakholder Foods is positioned to significantly impact the global seafood market.
Steakholder’s Favorable Feasibility Report (2024/01/04)
Steakholder Foods Ltd. has received a positive report from Mérieux NutriSciences confirming the safety of its 3D-printed plant-based whitefish and steak for use in the UAE, with an anticipated conventional approval process due to the unchanged structure of the raw materials in the 3D printing process. The company, optimistic about swift approval for its initial products, is actively working on commercialization agreements globally while engaging with UAE regulatory authorities for product approval, aligning with its strategy to revolutionize the food industry with innovative plant-based, 3D-printed food solutions.
Steakholder Life-Cycle Assessment (2023/11/30)
Steakholder Foods Ltd. is undertaking a comprehensive Life-Cycle Assessment (LCA) process, supported by the Israel Resource Efficiency Center and subsidized by the government. The LCA aims to enhance productivity and optimize production processes, reinforcing the company’s commitment to sustainability and innovation. The analysis is expected to guide management decisions and align with regulatory standards, supporting global sustainable development goals. This initiative is a critical move for the company, demonstrating its commitment to technological innovation and environmental sustainability.
Steakholder Foods Unveils SH Beef Steak Ink (2023/09/28)
Steakholder Foods Ltd. introduces the SH Beef Steak Ink, an innovative 3D-printed meat production technology that redefines cultivated meat. This avant-garde ink enhances natural flavors, texture, and taste, offering an unparalleled culinary experience. It promotes ethical and humane meat production, sidelining the need for slaughtering animals. The company envisions the ink becoming an industry benchmark, making it a viable option for a broad spectrum of businesses in the cultivated meat sector.
Unlocking the Future with Immortal Meat Cells (2023/09/12)
The company has submitted a provisional patent application for its “Immortal Bovine Cell Line and Uses Thereof,” which promises to bring cultivated meat production to a commercial scale. By producing immortal cell lines, Steakholder Foods is gearing up to offer a consistent and renewable resource to generate varied tissues, from muscle to fat. This initiative aligns with the company’s vision of crafting a humane alternative to traditional meat and seafood production, presenting manufacturers with the tools to produce cultivated meat products. The company proudly holds a membership with the UN Global Compact and emphasizes enhancing food security, mitigating carbon emissions, and championing the conservation of essential resources.
Launches Light CAD Editor for Bio-Printed Foods (2023/09/06)
The company has launched its Light CAD Editor, a groundbreaking software that simplifies and optimizes the production of bio-printed meat products. The software seamlessly integrates with Steakholder Foods’ fusion printers, allowing clients to create and perfect their 3D models without requiring third-party software or extensive CAD training. With the Light CAD Editor, clients can fine-tune the texture and structure of the end products, meeting or exceeding industry benchmarks and consumer expectations. The Light CAD Editor adds another layer of sophistication to Steakholder Foods’ endeavor to replicate traditional meat and fish’s texture, taste, and appearance. The company offers a comprehensive solution that enables clients to iterate and optimize rapidly, positioning it as a leader in cellular agriculture technology.
Steakholder Foods Ltd. Reports Significant Advancements in H1 2023 (2023/08/31)
Steakholder Foods Ltd. has released its business update for H1 2023. The report highlights the company’s major strides in funding, commercialization, and technological advancements. The company secured a multi-million-dollar commercial agreement and $12.5 million in two rounds of public offerings. Steakholder Foods also achieved a world-first by 3D-bioprinting ready-to-cook cultivated fish and received high-profile validation from Israeli Prime Minister Benjamin Netanyahu. The financial summary shows increased R&D expenses, decreased operating loss, and cash and equivalents rising to $9.4 million after the July 2023 capital raise.
Steakholder Foods Gets a Patent For 3D Food Printing (2023/07/31)
Steakholder Foods has been granted a patent for advanced print heads that overcome traditional challenges in bioprinting, allowing for the fabrication of edible biostructures with exceptional precision. The company aims to enhance the use of its drop-on-demand technology for the deposition of patterns of cells. This patent highlights the company’s efforts in pushing the boundaries of 3D printing technologies and strengthening its intellectual property portfolio. Steakholder Foods also focuses on creating end products that mimic the taste, texture, and appearance of traditional meat and seafood, positioning itself as a supplier to meat manufacturers and cultivated meat producers.
Steakholder Foods Successfully Closes Registered Direct Offering, Raising $6 Million in Gross Proceeds (2023/07/28)
Steakholder Foods Ltd. has announced the successful closing of a direct offering, selling 6,000,000 of its American Depositary Shares at $1.00 per ADS. The offering resulted in gross proceeds of $6 million for the company, which will be utilized as working capital for general corporate purposes. The company also issued unregistered warrants in a private placement, enabling the purchase of up to 6,000,000 additional ADSs.
Steakholder Foods Inks Groundbreaking Partnership to Advance Food Security in the GCC Using 3D-Printed Cultivated Meat Technology (2023/07/25)
Steakholder Foods Ltd. has partnered with a GCC-based governmental body to implement its 3D printing technology in the Gulf Cooperation Council region. The partnership will begin with an investment to construct a pilot plant for producing 3D-printed hybrid-fish products, with the ultimate goal of establishing a large-scale production facility to ensure sustainable and nutritious food production. The partnership is focused on leveraging Steakholder Foods’ expertise in 3D printing technologies to address food security challenges and positively impact global food production.
Steakholder Foods’ Bio-Printer Upgrade (2023/06/12)
Steakholder Foods Ltd. (NASDAQ: STKH) has announced an upgrade to its industrial-scale 3D bio-printer. The upgrade integrates electronic cards and printheads with a fully digital ink delivery system, allowing high-throughput printing of complex meat structures on a commercial scale. The printheads are managed via a DropJet printed circuit board and proprietary software, which allows the printing of intricate 3D structures with incredible precision while maintaining the viability of cells during the printing process. The upgraded 3D printing system is designed for high-volume production and can potentially yield tons of meat per month from various species.
Steakholder Foods Unveils New Business Model With 3D Printing (2023/05/26)
Steakholder Foods Ltd. will offer its 3D bio-printing technology and bio-inks to B2B meat and cultivated meat producers. This will allow manufacturers to produce cultivated meat products that closely resemble traditional meat. The company’s 3D printers are engineered with cutting-edge technology designed to fabricate cultivated meat products that accurately mimic conventional meat’s texture, taste, and appearance. The company is developing two types of printer platforms: Ready to Cook (RTC) Printer and 3D Printer for Incubated Products. Bio-inks are a crucial element of Steakholder Foods’ 3D printing technology. These inks are formulated to ensure the production of tasty, safe, and consistent products.
Steakholder Foods Creates World’s First 3D-Printed Fish Fillet (2023/04/25)
Steakholder Foods has partnered with Umami Meats to create the world’s first cultivated fish fillet using a 3D bio-printer. The fillet can be cooked immediately after printing, mimicking the texture of cooked fish. This achievement represents a significant milestone in the development of 3D bio-printing technology for the food industry and is likely to lead to the creation of other structured cultivated products, including beef and seafood products, in the future.
Steakholder Foods Invests in Wilk Technologies to Advance Sustainable Food Solutions (2023/04/04)
Steakholder Foods has invested $450,000 in Wilk Technologies, a plant-based meat alternative producer. This investment gives Steakholder Foods a 2.5% stake in Wilk, alongside other food industry players such as Danone and Central Bottling Co. Ltd. The collaboration aims to explore synergies between both companies’ technologies and drive innovation towards sustainable food solutions.
Enter Restructuration Process (2023/03/08)
Steakholder Foods Ltd. plans to streamline its operations and scale up production of its cultivated avian food product for regulatory approval in Singapore. The company will eliminate its resource-intensive pilot plant project and focus on a more efficient structure to increase efficiency and productivity. The targeted layoffs will affect areas of the business not directly related to regulatory submissions. Steakholder Foods aims to launch its product in the Singaporean market and prepare for submission in the USA. The decision to scale up production through a third-party plant will accelerate the process and reduce costs.
Image provided by Steakholder Foods
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