Unlocking Affordable Cell Production for a Sustainable
Future
REHOVOT, Israel, Nov. 2, 2023
/PRNewswire/ -- Steakholder Foods Ltd. (NASDAQ: STKH), a leading
international deep-tech food company, announces that the Company's
biology team has successfully reduced the cost of its in-house
growth media for bovine cell cultivation in suspension by just over
75% from prices just two years ago.
The high cost of growth media has been a significant challenge
across the industry, hindering scalability and affordability.
Steakholder Foods is on a mission to address this industry-wide
concern by optimizing growth methodologies and creating scalable
solutions, paving the way for industrial-scale cell production
while substantially lowering the total production costs of
cultivated beef.
The increased affordability of growth media is especially
significant as it is widely believed that technological challenges
to the commercialization of cultivated meat will be overcome long
before the economic challenges are met, and cultivated meat becomes
affordable to the consumer. Every cost reduction in materials can
be another step towards putting cultivated meat on people's tables
one day soon.
While reducing costs is essential, maintaining the highest yield
and product quality is equally crucial, which is why Steakholder
Foods' dedicated research and development efforts over the years
have focused not only on cost reduction but also on optimizing
growth media in suspension to ensure that yields remain
consistently high. Steakholder Foods' R&D team's achieves this
by testing replacements for individual growth media components to
optimize the formulation for beef cells without compromising the
quality and quantity of the cells.
Dan Kozlovski, CTO at
Steakholder Foods: "Our ability to achieve a significant cost
reduction in growth media is a testament to the dedication and
innovation of our biology team. It propels us toward our goal of
making cultivated meat a viable, sustainable, and cost-effective
solution for the future."
About Steakholder Foods
Steakholder Foods Ltd., is an international deep-tech food
company at the forefront of the cultured meat revolution. The
company-initiated activities in 2019 and is listed on the Nasdaq
Capital Market under the ticker "STKH".
The company is developing a slaughter-free solution for
producing cellular agriculture meat products, such as beef and
seafood, by offering manufacturers the ability to produce a
cultivated meat product that aims to closely mimic the taste,
texture, and appearance of traditional meat— as an alternative to
industrialized farming and fishing. With its membership in the UN
Global Compact, Steakholder Foods is committed to act in support of
issues embodied in the United Nations Sustainable Development Goals
(SDGs) which include strengthening food security, decreasing 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
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, 2022, filed with the Securities and
Exchange Commission on April 4, 2023.
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.
Press Contact:
Maissa Dauriac
Rainier Communications
mdauriac@rainierco.com
Investor Contacts:
Steakholder Foods
Investors@steakholderfoods.com
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SOURCE Steakholder Foods Ltd.