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One of Israel's leading alternative protein manufacturers and the largest tofu producer Wyler Farms signed an MOU to acquire Steakholder Foods' printer. The deal includes Steakholder Foods' proprietary software and a subscription to the company's NutriBlend™ ink (nutritional raw materials blend) for plant-based meat production
REHOVOT, Israel, Feb. 5, 2024 /PRNewswire/ -- Steakholder Foods Ltd. (NASDAQ:STKH), a pioneer in cultivated meat and 3D printing technology, announced its inaugural commercial MOU in the private sector with Wyler Farms, among Israel's leading alternative protein producer and premier Tofu producer. The terms of the deal involve Wyler Farms acquiring Steakholder Foods' state-of-the-art 3D Fusion Pro™ meat printer, along with a subscription to the company's SH Software™ and its NutriBlend™ ink for plant-based meat production.Top of Form
To the best of the company's knowledge, this marks an industry-first incorporation of industrial-scale 3D printing technology into the food industry.
The MOU includes expected production of a unique, plant-based 3D printed meat steak to be printed by Wyler Farms using Steakholder Foods proprietary printers and NutriBlend™ ink. The collaboration, valued at several million US dollars over the coming years, represents a truly significant development in the plant-based meat industry (see future-looking statement below).
With both companies committed to driving this collaboration forward, the installation of the Fusion Pro™ 3D printer is anticipated to be completed between Q4 of 2024 and Q1 of 2025.
The Fusion Pro's™ modular design, capable of producing up to 500 kg of highly advanced texturized printed products per hour, highlights the companies' shared dedication to innovation and sustainable production practices. This partnership enhances Wyler Farms' production capabilities and represents a crucial step in the evolution of plant-based meat technology.
This milestone strengthens Steakholder Foods' efforts to reach commercialization, solidifying its role as a leading proprietary 3D printing supplier to the plant-based and cultivated food industry.
Arik Kaufman, CEO of Steakholder Foods, said: "As a genuine revolution in the food production landscape, this collaboration with a leading player in its field as Wyler Farm marks an inflection-point milestone for Steakholder Foods. By incorporating our Fusion Pro technology into Wyler Farms' industrial operations alongside their subscription to our proprietary software and ink supply, we're not just showcasing our technology's potential – we're setting a new standard for the industry. This deal marks a testament to our vision of transforming food production through innovative technology and it brings Steakholder Foods closer than ever to a point it will begin to generate income."
Yair Ayalon, Vice President of Business Development of Steakholder Foods, said: "This collaboration with Wyler Farm, one of the leading alternative protein producers, solidifies and enhances Steakholder Foods' commercial phase. As we expand our operations, we are set to forge more strategic partnerships like this in 2024, further cementing our position in the market."
Oleg Kulyava, CEO of Wyler Farm, said: "The partnership with Steakholder Foods marks a significant milestone for Wyler Farms, enabling us to position our products at the forefront of the plant-based meat market. We are thrilled to expand our portfolio with premium plant-based steak and anticipate introducing additional premium products based on Steakholder Foods' technology. By integrating innovative 3D printing technology, this collaboration has the potential to be a game-changer in the industry, demonstrating our commitment to pioneering sustainable, nutritional, and disruptive food solutions."
Posted In: STKH
