Steakholder Foods® Shares Letter from the CEO, Arik Kaufman

Steakholder Foods Ltd. (Nasdaq: STKH), (formerly MeaTech 3D: MITC), an international deep-tech food company at the forefront of the cultivated meat industry, shared a letter from the CEO, Arik Kaufman, highlighting the main achievements of 2022 and the accelerated go-to-market strategy for 2023.

The letter:

Dear Steakholder,

First and foremost, I would like to thank you for being a steakholder (as we like to say) in our company, mission, and community. I firmly believe that we are (and should be) all in this together, and therefore, I not only value your support ― I also value your input and ideas. The purpose of this letter is to provide a general overview to the Steakholders’ investor community about our achievements in 2022 and plans for 2023.

In general, it has been a particularly challenging year for the stock market as companies have had to maneuver in order to adapt to economic downturns. Despite these challenges, we have continued to forge ahead with significant technological achievements, industry collaboration, and plans for scaling and commercialization.

On the technology front, we have achieved significant milestones in both our 3D bio-printing capabilities, launching an industrial-scale printer, and our biological methodologies, including our first granted patent for physical manipulation of cultivated muscle tissue. Our research and development advancements along with our IP base, backed by numerous patent applications, have cemented our position as a leader in the cultivated meat space. This has also helped us add some key collaborations to our business development efforts, including the partnership with Singapore-based Umami Meats to 3D-print cultivated fish.

On the business front, we have focused our efforts on the US market, hiring personnel and holding our first US tasting event in San Francisco, where we introduced our 3D bio-printing capabilities to the local investor community.

A 2022 highlight that connected sophisticated 3D-printing and biological capabilities was the announcement of the proof of concept of Omakase Beef Morsels proof of concept, a first-of-its-kind, highly marbled 3D-printed cultured beef cut! Omakase Beef Morsels are an innovative culinary achievement elegantly designed as a meat lover’s delicacy for premium dining experiences.

Looking ahead to 2023, the company is upgrading its industrial-scale 3D bio-printer, pushing forward with the biology department development for our in-house growth media and cell proliferation across species, accelerating business development and marketing activities. On the regulation front, I am extremely pleased with the recent progress that the FDA and USDA have made with cultivated meat approvals, culminating so far in Upside Foods’ “no questions” letter from the FDA. The team at Steakholder Foods is pushing forward to submit products for approval in Singapore, the USA and Europe in 2023.

I am excited to see how the team is pooling together all resources towards advancing our growth methodologies at scale, commercializing our printing capabilities, and creating remarkable cultivated and hybrid products, while working towards our end goal of producing cultivated steaks at scale. These strategic developments are aimed at achieving our accelerated go-to-market strategy that is focused on the commercialization of our 3D bio-printer through partnerships and collaborations in 2023.

I’d like to use this opportunity to wish you a Happy New Year! I look forward to what lies ahead for Steakholder Foods in 2023, and I value your support as we work toward accomplishing our goals.

Yours truly,

Arik Kaufman

Co-founder and CEO of Steakholder Foods

About Steakholder Foods

Steakholder Foods Ltd., formerly MeaTech 3D 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” (formerly MITC). Steakholder Foods maintains facilities in Rehovot, Israel and Antwerp, Belgium and has recently expanded activities to the US.

The company is developing a slaughter-free solution for producing a variety of beef, chicken, pork, and seafood products — both as raw materials and whole cuts — 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.

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Written by Nizel Pradhan

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