MeaTech 3D announces the launch of food technology development activities in Europe

NESS IF WE HAVE, Israel, April 20, 2021 / PRNewswire / – MeaTech 3D Ltd. (Nasdaq: MITC) (TASE: MITC), a technology company focused on developing cultured meat production capabilities, including its proprietary three-dimensional printing technology, biotechnology processes and customizable no-slaughter manufacturing processes. real meat manufacturing, today announced that its wholly owned subsidiary, MeaTech Europe, has started its food technology development activities, initially focusing on hybrid foods, which are food offerings made up of both ingredients vegetable and cultivated fatty and / or protein.

One of MeaTech EuropeThe main activities of s will be the development of food technologies on behalf of the MeaTech group of companies. The initial objective will be to facilitate the development of a variety of hybrid feed offerings based on chicken fat from the company recently acquired by MeaTech 3D. Antwerpsubsidiary based in Peace of Meat BV. Food technology development activities will focus on improving Peace of Meat’s cultured chicken cell products, including the optimization of key aspects such as taste, texture, flavor, feel and feel. mouth and nutrition.

Peace of Meat has already performed several taste tests that have demonstrated the potential of cultured chicken fat to improve the properties of vegetable protein products. MeaTech Europe will use this proof of concept product to develop hybrid products tailored to consumer tastes and preferences. Bovine and avian cell research and development, as well as the scaling up of technologies, will continue to be carried out at MeaTech 3D and Peace of Meat, respectively.

Sharon Fima, CEO of MeaTech, said: “We are delighted to launch food development activities at MeaTech Europe, which represents a key step towards the commercialization of cultured products. Tailoring our offerings to consumer preferences is imperative, which is why this will be the initial continuation of MeaTech Europe, as MeaTech 3D and Peace of Meat continue to focus on developing advanced cellular agriculture and bringing at the level of the company’s basic offerings.

“2020 has turned out to be a great year for herbal products, with total industry sales reaching $ 7 billion in United States alone. We expect hybrid products to be the next step in the evolution of alternative proteins, and Peace of Meat’s Cultured Chicken Fat could be a game-changer in this category, where it could improve taste, texture and consistency. mouth feel of herbal alternatives. meats. We want to make sure that plant-based producers looking to enhance the key qualities of their offerings can seamlessly incorporate our cultured fatty ingredients. “

About MeaTech 3D

MeaTech 3D started operations in 2019, with the aim of developing and expanding cultured meat production capacities. To achieve its vision of sustainably producing real meat without slaughter, MeaTech 3D is developing proprietary three-dimensional bioprinting technology, biotechnological processes and customizable manufacturing processes, while pursuing synergistic acquisitions to accelerate development. The Company’s ADSs are listed on the Nasdaq Capital Market under the symbol “MITC”. Its common stock is listed on the Tel Aviv Stock Exchange under the symbol “MITC”.

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MeaTech 3D owns 100% of MeaTech Europe and 100% of Peace of Meat.

MeaTech Europe supervises and manages food technology development activities.

About the peace of meat

Peace of Meat was created in Belgium in 2019 and grows grown chicken fat directly from animal cells without the need to grow or kill animals. The company believes its innovative technology has the potential to support an industrial process for producing cultured chicken fat. Peace of Meat has entered into a number of scientific and commercial collaborations, in the process of positioning itself as a future B2B supplier, with the potential to cover the entire value chain and accelerate research and production processes. in the industry and has conducted taste tests for the hybrid products it has developed.

Forward-looking statements

This press release contains forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including market and other conditions. MeaTech does not undertake to update these forward-looking statements after the date hereof to comply with actual results or changes in expectations, except as required by law.

SOURCE MeaTech 3D Ltd.

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