Israeli farmed meat and 3D printing leader Stakeholder Foods, formerly MeaTech 3D (NASDAQ: MITC ), announced that it has signed a multi-million dollar contract To establish a ‘first-of-its-kind,’ large-scale manufacturing facility in the Persian Gulf with an accredited GCC-based government agency (Gulf Cooperation Council).
The partnership aims to address local food security goals set in the GCC, representing the economic union between Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.
In May, Stakeholder Foods announced it was launching a new 3D bioprinting business model, promising to advance the cultured meat revolution. Now the company has signed the first Memorandum of Agreement (MOA) for strategic cooperation.
Eric Kaufman, CEO of Stakeholder Foods commented: “After intensive years of development, Stakeholder Foods is excited to sign this first agreement with a strategic partner, creating our first revenue stream that represents one of the first significant revenue agreements for a company in the farmed meat industry, a huge step forward. We believe we have chosen the right partner, and together, we are committed to advancing the cause of food security and making a positive impact on the world.”
3D printing capabilities
The facility will grow farmed fish and meat to produce hybrid products (farmed + plant protein and fiber) using Stakeholder Foods’. 3D printing technology Alternatives to traditional meat and fish in sustainable production.
The MOA envisages an investment from a strategic partner from the GCC to build the pilot plant and a material initial down payment to Stakeholder Foods to procure its ready-to-cook (RTC) 3D printers and its technologies including customizable bioinks for meat, fish and vegetable products. contract Milestone-based sales and a procurement plan for industrial-scale output will follow, the farmed meat company explains.
Using its bioprinting platform, Stakeholder released foods The world’s largest 3D-printed farmed steak In 2021; And World’s first 3D-printed farmed fish fillet, developed Partnership wSingapore’s farmed seafood specialist Umami Meats.
Yar Aylon, VP of Business Development at Stakeholder Foods, said: “This strategic partnership marks an important moment in our journey to commercialize our 3D printing capabilities. Looking ahead, we are committed to pursuing additional strategic partnerships to enable us to deliver innovative solutions for the foodtech industry.