Israel-based food-tech company Steakholder Foods has secured a partnership with an undisclosed member of the Gulf Cooperation Council (GCC) to establish a pilot plant for 3D-printed “hybrid-fish products”.
The Rehovot-headquartered firm has signed a “memorandum of agreement for strategic cooperation with an accredited GCC-based governmental body”. The multi-million dollar deal involves the GCC partner investing in the setup of the facility.
Steakholder Foods, formerly known as MeaTech 3D, will reveal the name of the entity after progressing with the pilot plant, which will be located in the GCC region.
The GCC is an economic union comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
“The agreement includes a significant initial down payment to Steakholder Foods for the acquisition of its 3D-printing technologies, followed by a sales and procurement plan based on milestones for industrial-scale production,” the company announced.
While Steakholder Foods, listed on the Nasdaq in the US, has yet to commercially launch its products, the company is ultimately aiming to establish a large-scale production facility in the Persian Gulf region.
Catering primarily to the B2B market, Steakholder Foods offers food companies 3D bio-printers for producing cultured meat, fish, and vegetable-based products.
The company’s product range consists of ready-to-cook 3D-printing technologies and bio-inks, specifically designed for cultivated fish and meat products.
“After years of intensive development, Steakholder Foods is thrilled to secure this initial agreement with a strategic partner, marking our first substantial income stream in the cultivated meat industry. It represents a significant step forward for us,” commented CEO Arik Kaufman.
VP of Business Development at Steakholder Foods, Yair Ayalon, described the deal as a “pivotal moment” and emphasized the company’s commitment to pursuing additional strategic partnerships to drive innovation in the food-tech industry.
