NESS ZIONA, Israel, Dec. 8, 2020 /PRNewswire/ — Meat-Tech 3D Ltd. (TASE: MEAT), as we speak introduced that it has signed an settlement to purchase 100% of the share capital of Peace of Meat PV, a pioneering Belgian producer of cultured avian merchandise, for EUR 15 million in a mix of money and Meat-Tech extraordinary shares. The Company believes that will probably be ready to leverage Peace of Meat’s applied sciences, together with via novel hybrid meals merchandise, to expedite market entry whereas Meat-Tech develops an industrial course of for cultivating and producing actual meat utilizing 3D bioprinting know-how, with out harming animals. The acquisition is predicted to shut within the coming weeks, topic to customary closing situations.
Peace of Meat has developed a proprietary, stem-cell-based bioreactor know-how for cultivating animal fat from rooster and geese, with out harming animals. It has carried out a quantity of style exams, demonstrating the potential that its cultured fats has to improve the style of plant-based protein merchandise. The know-how’s first anticipated software is in hybrid meals merchandise, combining plant-based protein with cultured animal fats, designed to present meat analogues with qualities of “meatiness” (style and texture) nearer to that of standard meat merchandise. Meat-Tech estimates that the primary hybrid merchandise based mostly on Peace of Meat know-how might hit the market as early as 2022.
Pursuant to the acquisition settlement, Meat-Tech can pay half of the consideration instantly, with the fee of the steadiness topic to Peace of Meat complying with preset technological milestones over a interval of two years, that have been designed to scale up cultured fats manufacturing capabilities in preparation for market entry. To that finish, it was agreed that Peace of Meat’s administration will proceed in place to lead the event course of.
This acquisition is in step with Meat-Tech’s development technique, aiming to streamline growth processes and develop the Company’s product vary to penetrate cultured meat know-how markets as rapidly as potential. Meat-Tech is working to create synergy and added worth for meals producers within the superior manufacturing of cultured meat, whereas sustaining animal welfare and assembly the rising world demand for meat.
Sharon Fima, Meat-Tech’s CEO: “Meat-Tech’s novel technology for producing meat using 3D printing is gaining increasing international recognition. Boosted by our acquisition strategy, we believe we can turn Meat-Tech into a leading global center and home for innovative and groundbreaking cell-based food solutions that are both healthy and environmentally friendly. The combination of Peace of Meat’s human capital and technology make this acquisition a significant step in that direction. I am pleased that both management teams share a common vision and strategy, and can join forces to advance the development of cultured food products with the potential to create real alternatives in the global meat market.”
David Brandes and Dirk von Heinrichshorst, Co-Founders of Peace of Meat: “In an business that’s working in direction of a kinder, extra sustainable planet, becoming a member of forces makes us stronger collectively. Peace of Meat has developed a robust system for upscaled cultured biomass manufacturing and along with Meat-Tech we intend to speed up product growth towards commercialization.
“While Peace of Meat’s core exercise stays centered on the manufacturing of tasty, cultured fats as a B2B ingredient for meat alternate options, we see super alternative in collectively constructing a number one food-tech enterprise with Meat-Tech, based mostly on a mobile platform.
“As entrepreneurs, we are excited about this acquisition as it poses a novel way of building and growing a company while significantly increasing the prospects of launching our product into the market.”
About Peace of Meat:
Peace of Meat was established in Belgium in 2019 and is creating cultured rooster fats straight from animal cells with out the necessity to develop or kill animals. The firm believes that its modern know-how has the potential to help an industrial course of for the manufacturing of cultured rooster fats. Peace Of Meat has entered right into a quantity of scientific and business collaborations, within the course of of positioning itself as a future B2B supplier, with the potential to cowl your complete worth chain and to speed up analysis and manufacturing processes within the business, and has carried out style exams for hybrid merchandise it has developed.
Meat-Tech is creating a novel organic printing course of designed to create dwelling, edible meat tissue utilizing mobile agriculture. Meat-Tech is creating applied sciences, processes and machines for cultivating, producing, and printing cultured meat. The firm believes that it was the primary on this planet to use edible organic inks to 3D-print dwelling tissue made up of numerous cells of bovine origin. The Company has the know-how, data and expertise in making use of tissue engineering practices for producing fats and muscle tissue for meals consumption, in addition to the flexibility to print, utilizing a 3D bioprinter, a mix of dwell animal cells, development elements and organic supplies to produce dwelling tissues that mimic the traits of pure tissue.
This press launch accommodates “forward-looking statements” throughout the which means of the Private Securities Litigation Reform Act of 1995. All statements contained on this press launch that don’t relate to issues of historic reality ought to be thought-about forward-looking statements, together with, however not restricted to, statements concerning the Company’s growth of the subsequent technology of cultured meat meals merchandise by leveraging 3D digital printing know-how, Peace of Meat’s growth of cultured fats merchandise, the anticipated closing of the Company’s acquisition of Peace of Meat and the anticipated post-closing synergies of the mixed firms. These forward-looking statements embrace details about potential or assumed future outcomes of the Company’s enterprise, monetary situation, outcomes of operations, liquidity, plans and goals. In some circumstances, you possibly can determine forward-looking statements by terminology equivalent to “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “predict,” “potential,” or the unfavourable of these phrases or different comparable expressions. Forward-looking statements are based mostly on info the Company has when these statements are made or administration’s present expectation and are topic to dangers and uncertainties that might trigger precise efficiency or outcomes to differ materially from these expressed in or urged by the forward-looking statements. Actual outcomes might differ materially from these indicated by the forward-looking statements made on this press launch. Any such forward-looking statements characterize administration’s estimates as of the date of this press launch. Except as required by regulation, the Company undertakes no obligation to replace publicly any forward-looking statements after the date of this press launch to conform these statements.
COMPANY / INVESTOR CONTACT:
Eran Gabay, Partner, Director of Strategy
Gelbart-Kahana Investor Relations: [email protected]
SOURCE Meat-Tech 3D Ltd.