Partnership to Revolutionize Taiwanese Cuisine by Bringing
the Company's 3D Printing Technology for Sustainable,
Locally-Sourced Meat Alternatives
REHOVOT, Israel, May 20, 2024
/PRNewswire/ -- Steakholder Foods Ltd. (Nasdaq: STKH), a
leading innovator in alternative proteins and 3D printing
technologies, announced a partnership agreement with the Industrial
Technology Research Institute (ITRI), a Taiwan-based world-leading applied technology
research institute. The purpose of the partnership is to develop
and commercialize a range of food products utilizing Steakholder
Foods' advanced 3D printing technology and plant-based premixes
tailored specifically for the Taiwanese cuisine.
Under this agreement, Steakholder Foods in collaboration with
ITRI will develop commercial high-quality, plant-based meat
alternatives that empower Taiwan
to independently produce meat substitutes. These products will not
only aim to be superior in texture and flavor, but will also be
tailored to meet local palate preferences. By leveraging
Steakholder Foods' cutting-edge technology, this collaboration aims
to help reduce Taiwan's dependence
on traditional meat supply chains, fostering greater food diversity
and sustainability across the region.
To accelerate expansion across Taiwan, this partnership will focus on
commercializing Steakholder Foods' products through collaborations
with leading food companies in Taiwan. A key part of this strategy will
involve the sale of Steakholder Foods' commercial-scale 3D printer
and premixes to commercial partners.
Arik Kaufman, CEO of
Steakholder Foods, said: "This partnership with ITRI represents
a significant step forward in our mission to create sustainable,
innovative food solutions. By combining our advanced 3D printing
technology with ITRI's extensive research capabilities, we now have
the ability to deliver a range of delicious plant-based food
options that will help significantly reduce environmental footprint
across Taiwan."
Yair Ayalon, VP of Strategy
and Business Development at Steakholder Foods, said: "We chose
ITRI as our collaborator because of their cutting-edge food
technologies and expertise in material science, combined with their
deep understanding of the Taiwanese market. By uniting our
pioneering 3D printing technology with ITRI's invaluable regional
consumer insights and local operations, we are uniquely positioned
to introduce alternative meat as a sustainable and locally sourced
protein option for Taiwan's
consumers. This powerful combination of strengths will allow us to
efficiently commercialize and scale these alternatives through
collaborations with leading local food companies. It was a real
pleasure to see Israeli and Taiwanese scientists collaborating
effectively, enhancing the synergy between our teams."
Shih-Chi Lee, Deputy General
Director of ITRI Central Region Campus, added: "Aligning with
Steakholder Foods allows us to extend the boundaries of food
technology and sustainability in entirely new ways. Our
collaborative efforts will pave the way for exciting advancements
in Taiwan's food industry,
expanding our portfolio with new food products and categories, and
ultimately contributing to solving food security and creating a
healthier planet."
About Steakholder Foods
Steakholder Foods is at the forefront of transforming the
alternative protein industries through its advanced technology.
Founded in 2019, Steakholder Foods specializes in developing and
selling 3D-printing production machines, supported by proprietary
premix blends, formulated from the highest-quality raw ingredients.
These innovative tools are designed to help manufacturers of all
sizes efficiently produce foods that meet and exceed consumer
expectations for taste, texture, and appearance and offer a safe
and sustainable alternative to industrialized meat and seafood
production.
Steakholder Foods' expertise in creating alternative proteins
products that replicate the complex textures of traditional meats
such as beef steaks, white fish, shrimp, and eel. The company is
also exploring the integration of cultivated cells, preparing for
future advancements in food technology.
About ITRI
Industrial Technology Research Institute (ITRI) is one of the
world's leading technology R&D institutions aiming to innovate
a better future for society. Founded in 1973, ITRI has played a
vital role in transforming Taiwan's industries from labor-intensive into
innovation-driven. To address market needs and global trends, it
has launched its 2030 Technology Strategy & Roadmap and focuses
on innovation development in Smart Living, Quality Health, and
Sustainable Environment. It also strives to strengthen
Intelligentization Enabling Technology to support diversified
applications.
Over the years, ITRI has been dedicated to incubating startups
and spinoffs, including well-known names such as UMC and TSMC. In
addition to its headquarters in Taiwan, ITRI has branch offices in the U.S.,
Europe, and Japan in an effort to extend its R&D scope
and promote international cooperation across the globe. For more
information, please visit https://www.itri.org/eng.
Forward-Looking Statements
This press release contains forward-looking statements
concerning Steakholder Foods' business, operations and financial
performance and condition as well as plans, objectives, and
expectations for Steakholder Foods' 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 Steakholder Foods' 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 Steakholder Foods'
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, Steakholder Foods' expectations regarding the success
of its cultured meat manufacturing technologies it is developing,
which will require significant additional work before Steakholder
Foods can potentially launch commercial sales; Steakholder Foods'
research and development activities associated with technologies
for cultured meat manufacturing, including three-dimensional meat
production, which involves a lengthy and complex process;
Steakholder Foods' 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 Steakholder Foods'
Annual Report on Form 20-F for the fiscal year ended December 31, 2023, filed with the Securities and
Exchange Commission on April 30,
2024. New risks and uncertainties may emerge from time to
time, and it is not possible for Steakholder Foods to predict
their occurrence or how they will affect Steakholder Foods. If one
or more of the factors affecting Steakholder Foods' forward-looking
information and statements proves incorrect, then Steakholder
Foods' 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, Steakholder Foods cautions you not to place undue
reliance on its forward-looking information and statements.
Steakholder Foods 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.
Investor Contacts:
Steakholder Foods
Investors@steakholderfoods.com
Press Contact:
Maissa Dauriac
Rainier Communications
mdauriac@rainierco.com
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SOURCE Steakholder Foods Ltd.