Israeli startup MeaTech 3D, which 3D bioprints slaughter-free meat cultures at scale, announced that it has signed a letter of intent to acquire a leading developer of cultured fat products. The new company flying under MeaTech’s wings remains unnamed but will provide the Israeli alternative meat company with unique stem-cell based technologies to produce various fats from cattle, chickens or geese, without harming as much as a feather from the geese’s head.
The deal, which is set to be official by the end of the month, will see MeaTech acquire the target company for $17.5 million, which will be transferred in both cash money and equity in MeaTech 3D. Furthermore, MeaTech notes that the target company will continue to operate regularly, however, be judged on milestone based achievements.
"We expect the cultured fat technology to offer significant R&D synergies and help us realize our vision of development and production of a variety of cell-based foods using more sustainable production technologies. We hope to collaborate with new team members very soon," said Sharon Fima, CEO and CTO of MeatTech. "Cultured fats are a promising candidate to be amongst the first cell-based products to be launched at scale," added Steve H. Lavin, Chairman of the Board of Directors of MeatTech.
MeaTech, which was founded in 2018 by CEO Sharon Fima, looks to be a trailblazer in the cultured meats industry, by combining cultured fats with plant proteins, the hybrid product will incorporate the most positive properties of both substances while retaining real-like look, texture, and taste of meat, but slaughter free and nutritionally controlled. What’s mpst interesting here is the fact that by combining these two cultures, MeaTech’s potential market suddenly blows up, now adding plant-based alternative products to the list. This offers the company the opportunity to dip in both the cultured meat and plant-based pools.
Through a combination of internal development and acquisitions, MeatTech is developing multiple cutting-edge technologies intended to be leased to major food producers globally, This is all part of the company’s recent efforts to accelerate to market with a game-changing product, as well as contributing to a greener and animal friendly future. All while still being able to enjoy a juicy burger for lunch. A little less than a month ago MeaTech 3D announced a major milestone, when company scientists were able to biorpint a carpaccio like sample of meat, showing how personal and market momentum are adding to the Israeli startup’s rapid rise towards putting a product on the market.