Steakholder Foods signs MOA with GCC governmental body
Steakholder Foods has announced that it has entered into a Memorandum of Agreement for Strategic Cooperation (MOA) with a GCC-based governmental body to commercialise its 3D bio-printing technology.
The MOA is intended to contribute to the scalability of Steakholder Foods’ 3D-printed food technology in territories in the Gulf Cooperation Council (GCC), which represents the economic union between Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.
The strategic partnership aims to advance food security efforts through the application of Steakholder Foods’ technology, commencing with an investment from the partner in the construction of a pilot plant to provide printed hybrid-fish products.
Eventually, the MOA aims to create a first-of-its-kind large-scale production facility in the Persian Gulf region. The agreement foresees a material initial down payment to Steakholder for the procurement of its 3D-printer technologies, followed by a milestone-based sales and procurement plan for industrial-scale output.
The collaboration will leverage Steakholder Foods’ expertise in providing mature Ready-to-Cook 3D printer technologies and customised bio-inks, tailored to produce a wide range of species-specific cell-based fish and meat products as well as vegetable-based products.
According to Steakholder Foods, the partner also seeks to utilise Steakholder’s technology to overcome limitations of traditional fish and meat production, ensuring consistent, nutritious and safe food products that closely mimic the taste, texture and appearance of conventional products.
Arik Kaufman, CEO of Steakholder Foods, said: “After intensive years of development, Steakholder Foods is excited to sign this first agreement with a strategic partner, generating our first income stream that represents one of the first substantial income agreements for a company in the cultivated meat industry, a huge step forward. We believe that we have chosen the right partner, and together, we are committed to advancing the cause of food security and creating a positive impact on the world.”