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In the year By 2022, the company has expanded its R&D investment, allowing it to reach a significant milestone in its technological development, through partnerships, business and many other achievements.
regrowth, Israel, April 5, 2023 /PRNewswire/ – Steakholder Foods Ltd. (Nasdaq: STKH), a global deep-tech food company at the forefront of the processed meat industry, is pleased to present its annual business update, including a summary of its successful advances in financing, partnerships, and partnerships. , technological capabilities, intellectual property, business and more. In parallel, the company reported its 2022 financial results.
CEO of Steakhouse Foods, Eric KaufmanHe commented, “2022 was a turning point for Steakhouse Foods, where we made significant progress in terms of our core biologics and publishing capabilities, and our commercial go-to-market strategy and industry collaborations. And funding. We are extremely excited about the year ahead, and we are looking forward to a sustainable and skilled We look forward to advancing food trends with our unique technologies and capabilities.
2022 and current business headlines
Land Loss Collaborative and New Funding:
Steakhouse Foods has launched a historic collaboration with Umami Meats, aiming to enter Asian markets with 3D bio-printed seafood products. After this, the company arrived 1 million dollars Singapore-Israel Industrial R&D Foundation to develop processed fish products. Steakhouse dishes are also up. 13 million dollars Two rounds of public offerings (6.5 million dollars in June 2022And 6.5 million dollars in January 2023), to accelerate ongoing development and commercialization, among other corporate goals. In addition, in April 2023The company is owned by Wilk Technologies Ltd. (TASE: WILK) has announced its participation in a strategic investment round, together with leading players in the food industry such as Danone and Central Bottling Company (Tara, Coca-Cola Israel and others). ), which aims to advance the landscape of sustainable food solutions alongside expansion as a strategic partnership.
Major Technological Advances:
In the year Since the beginning of 2022, the development of the company’s proprietary 3D bio-printer has led to exciting achievements in terms of new products, capabilities and growth rates. Among them is the introduction of Omakase Beef Morsels, a first-of-its-kind, highly marbled, 3D-printed cut of beef. In addition, the company has increased the production of the cell product by 50 times using the refining method used by the company. What’s more, Steak Holder Foods has shown that the muscle cells produced have the same nutritional value as beef, a major breakthrough in making nutritionally equivalent crop foods a reality. Steak Holder Foods has developed a thermally controlled print bed for an industrial-grade printer, a major step toward mass production.
Accelerating business and growth alongside financial facilitation and restructuring:
In the year In 2022, Steckler Foods’ printing technology gained worldwide attention, at the Future of Food Tech Summit in 2018. London And then traveling to Agri-Food Tech Expo Asia Singapore. The company hosted its first tasting event, where participants tasted hybrid products.
Subsequently, the company organized a gala tasting event in the US where the Silicon Valley investor community was introduced to the company’s technology, and the guests tasted the meat canapés. Following successful developments in technology and business sectors, the company announced that it has already started implementing an accelerated go-to-market strategy for 2023.
In parallel, Stakeholder Foods completed a strategic rebrand that reflects its commitment to the rapidly growing meat community and its leadership position as the first publicly traded meat company on the Nasdaq. He participates in the company’s mission to ensure that high-quality real meat is produced in a sustainable manner.
in April 2023, the company has announced the closure of its wholly-owned subsidiary Peace Meat BV (PoM) in order to improve its funding and investment strategy. As part of this process, Steak Owner Foods expects the Apple assets to materialize, after which the company must consider how and when to continue developing Avian products. The closing of the PoM is expected to reduce the cost of the steakhouse’s meals 4.5 million dollars Every year through 2022.
A growing intellectual property portfolio:
In the year In 2022, Steakhouse Foods expanded its intellectual property portfolio. Among its achievements, the company was granted the first patent in the US for the use of cultured muscle tissue in the body. Canada, Australia And New ZealandIt helps ensure the company’s technological leadership in the processed meat industry. Steakhouse Foods also has a patent-pending portfolio, including a provisional patent application for mimicking the texture of cooked fish, using its unique expertise in advanced 3D printing technology. The company also received its first registered trademark. Japan.
Summary of 2022 financial results:
- R&D expenses has arrived 9.8 million dollars compared to in 2022 7.6 million dollars In the year in 2021, reflecting expanded investment in Steakholder Foods’ research and development capabilities.
- Loss of function has arrived 35.4 million dollars compared to in 2022 17.2 million dollars In the year The increase in 2021 was primarily due to the impairment associated with the closure of PoM, the company’s cash-generating unit.
- Net loss has been 30.8 million dollars In 2022, or 0.23 dollars Compared to each ordinary share 18.0 million dollars And 0.16 dollars 2021 in ordinary shares.
- cash flow It is used in operational activities 14.3 million dollarsIn comparison 14.0 million dollars In 2021
- Cash and equivalent It was at the end of 2022 6.4 million dollarsIn comparison 19.2 million dollars Until the end of 2021.
- Non current assets stand on 8.2 million dollars compared to the end of 2022 18.5 million dollars In the year Until the end of 2021, mainly due to the decrease in intangible assets and fixed assets due to the recognized impairment of the company, it was replaced by an increase in leased assets.
- Total assets stand on 15.3 million dollars compared to the end of 2022 40.7 million dollars Until the end of 2021.
- Total capital It stands on 7.9 million dollars compared to the end of 2022 37.6 million dollars Until the end of 2021.
About steak owner dishes
Steakholder Foods Ltd., formerly MeaTech 3D Ltd., is a global deep-tech food company at the forefront of the cultured meat revolution. The company started operations in 2019 and is listed on the Nasdaq Capital Market under the ticker STKH (formerly MITC), headquartered in Rehovot. Israel.
The company is developing a slaughter-free solution to produce a variety of beef and seafood products — both raw and whole — as an alternative to industrialized farming and fishing. As a member of the United Nations Global Compact, Steak Church Foods is committed to supporting the UN’s Sustainable Development Goals (SDGs), which include strengthening food security, reducing our carbon footprint, and conserving water and land resources.
For more information, please visit: https://steakholderfoods.com
Forward-looking statements
This press release contains forward-looking statements regarding Steak Owner Foods’ business, operations and financial performance and condition, as well as plans, objectives and expectations regarding Steak Owner Foods’ business operations and financial performance and condition. Any statements that are not historical facts may be considered forward-looking statements. Forward-looking statements reflect Stakeholder Foods’ current views about future events and are based on assumptions and are subject to known and unknown risks and uncertainties, which may change over time and other factors that may affect Stakeholder Foods’ actual results, performance or achievements. be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Forward-looking statements include, without limitation, any statement that may foretell, predict, indicate or imply future results, performance or achievements and are commonly identified by words such as “may,” “could,” “could,” “will.” “”believes”, “believes”, “estimates”, “estimates”, “expects”, “intends”, “intends”, “plans” or words or standards of similar meaning and includes, without limitation, expectations of Steak Owner Foods. Steak Owner Foods prior to commencement of commercial sales. The success of developing meat production technologies that require significant additional work. Steak Owner’s food research and development activities associated with advanced meat production technologies, including three-dimensional meat production, which involves a long and complex process. Steak Owner Foods’ ability to obtain and enforce intellectual property rights and its business the ability to operate without infringing, misappropriating or otherwise infringing the intellectual property rights and proprietary technologies of third parties, and other risks and uncertainties, including those disclosed in Steakhouse Foods’ Annual Report on Form 20-F for the fiscal year ended December 31, 2022On file with the Securities and Exchange Commission April 4, 2023. New risks and uncertainties may arise from time to time, and it is impossible to predict whether they will occur or how they will affect Steak Owner’s Foods. If one or more of the factors affecting Steak Holder Foods’ forward-looking information and statements prove incorrect, Steak Holder Foods’ actual results, performance or achievements could differ materially from those expressed or implied in the forward-looking information and statements. This press release. Steak Owner Foods therefore cautions against placing undue reliance on forward-looking information and statements. Steak Holder Foods disclaims any obligation to revise or update any forward-looking statements, whether written or oral, except as required by law.
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Source: Steakholder™ Foods Ltd.
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