bigideaventures
  • Accelerator
  • Funds
  • Portfolio
  • Team
  • Events
  • Media
  • Careers
  • Contact
  • Apply
Select Page

Meat-Tech Invests €1M In Peace of Meat, A Leading Cultured Fat Developer

by admin | Oct 20, 2020 | Press

NESS ZIONA, Israel, Oct. 20, 2020 /PRNewswire/ — Meat-Tech 3D Ltd. (TASE: MEAT), a developer of industrial-scale cultivated meat production technologies based on advanced 3D bioprinting, today announced that it has made an initial €1M investment in Peace of Meat, a leading developer of cultured fat products. With this investment, Meat-Tech is expanding its strategy of developing scalable cell-based agriculture technologies. Meat-Tech’s investment is part of the planned full acquisition of the target company, as announced in September 2020.

The acquisition of the remainder of the company remains subject to the completion of a final agreement. Upon completion of the final agreement and, as POM achieves pre-agreed technological milestones over the course of two years, Meat-Tech will purchase all of POM’s equity for a total of approximately $17.5 million, for a combination of cash and Meat-Tech equity.

Peace of Meat (POM) is an Antwerp, Belgium based B2B company developing cultured fat technologies. POM has developed a unique, proprietary, stem-cell-based technology to produce animal fats, such as those from cattle, chicken or geese without harming any animals. In 2020 POM was awarded a subsidy of €1.2 million (US$1.33 million) from the Flemish government as part of the €3.6 million Foieture project. Peace of Meat has also received 1mn USD in private investments from supporters such as Joyance Partners, Big Idea Ventures and Food Angels.

Meat-Tech expects to leverage POM’s cultured fat technologies to expand its cell-based offerings by accelerating cultured fat development and shortening times to market. Peace of Meat has already held tasting events demonstrating the potential of cultured fats to enhance plant-based protein products. Such products are being called hybrid products as they are made of both plant based and cultured animal cell ingredients.

“Expediting the development of a broader range of cultured fat options will accelerate our go-to-market plans and support our current activities while opening the door to new product opportunities,” said Sharon Fima, CEO and CTO of Meat-Tech.

“Meat-Tech believes that hybrid products, such as plant-based burgers made with cultured fat, may prove to be an exciting new product category. Such fats may offer improved aromas, flavors and textures as compared to purely plant-based proteins. Completing this acquisition will add technological capabilities to support Meat-Tech’s core center-of-plate product offering.” added Steve H. Lavin, Chairman of the Board of Directors of Meat-Tech.

“POM shares the strategic vision of Meat-Tech 3D and is excited to join forces. We are convinced that the strong scientific and commercial synergies between both parties paired with our approach of creating hybrid products based on savory cultured fats is the perfect setting to bring cultured meat to market in an increasingly competitive space” said David Brandes, Managing Director of Peace of Meat.

This acquisition is part of Meat-Tech’s growth strategy of complementing its processes and diversifying its product range along the cultured meat production value chain in order to introduce cultured products to the global market as quickly as possible. Through a combination of internal development and acquisitions, Meat-Tech is developing multiple cutting-edge technologies intended to be leased to major food producers globally. Meat-Tech intends for its technologies to be utilized by value-added food producers to make advanced cultivated meat and related products. This in tandem to minimizing the use of natural resources, improving animal welfare and meeting the growing demand for meat sustainably.

About Meat-Tech 3D

Meat-Tech 3D (TASE: MEAT) is a research and development company aiming to develop commercial and sustainable technologies to manufacture alternative proteins with no need for animal slaughter. Meat-Tech is developing a unique, proprietary bioprinter to deposit layers of cells (including stem cells and differentiated stem cells), scaffolding, and cell nutrients in a three-dimensional form of structured cultured meat, often called “clean meat” or “cultured meat”. For more information, please visit www.meatech3d.com

Forward-Looking Statements

This press release contains “forward-looking statements” that are subject to risks and uncertainties. Words such as “believes,” “intends,” “expects,” “projects,” “anticipates” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions, many of which are beyond the control of Meat-Tech, including, without limitation, the risk factors and other matters set forth in its filings with the Israeli Securities Authority, including its Annual Report for the year ended December 31, 2019. Meat-Tech undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

COMPANY / INVESTOR CONTACT:

Meron Aronovitch
Communications Specialist, PressTarget
meron.aronovitch@presstarget.co.il

SOURCE Meat-Tech 3D Ltd.

Recent Posts

  • Jellatech Debuts Cell-Based Human Collagen As Investigation Links Industry to Deforestation
  • BIV Named #1 Agri Food Tech Investor Globally in AgFunder Investment Report
  • Nanocellulose Material, Our Petroleum-based Packaging Savior?
  • Why Female Representation & Diversity in Food Tech is Essential
  • Big Idea Ventures Announces Follow On Investment in Vacka

Categories

  • Blog
  • Podcast
  • Portfolio
  • Press
  • Research Paper
  • Uncategorized
Apply to join our New Protein Fund accelerator program

.

Apply to join a GFRP NewCo Management team
  • Contact
  • Funds
  • Investing
  • Partners
  • Portfolio
  • Media Kit
  • Research
  • Terms
  • Anti Spam
  • Copyright
  • DMCA
  • FTC
  • Privacy
  • Social Media
New York

88 Pine St., 14th Floor
New York, NY 10005

Singapore

28a Keong Saik Road,
SG 089135

Paris

Station F, 5 Parv. Alan Turing 75013 Paris, France 

Newsletter
Stay on top of our latest news.
Loading
Don’t worry, we won’t spam you.
© 2020 Big Idea Ventures. All Rights Reserved
  • Follow
  • Follow
  • Follow
  • Follow
 
Required 'Candidate' login to applying this job. Click here to logout And try again
 

Login to your account

  • Forgot Password?

Reset Password

  • Already have an account? Login

Enter the username or e-mail you used in your profile. A password reset link will be sent to you by email.

Close
 

Answers

 

Account Activation

Before you can login, you must active your account with the code sent to your email address. If you did not receive this email, please check your junk/spam folder. Click here to resend the activation email. If you entered an incorrect email address, you will need to re-register with the correct email address.