PR99368

REHOVOT, Israel, Feb. 10, 2023 /PRNewswire=KYODO JBN/ --

- The company's collaborative initiative with its 3D bio-printer is a

significant step forward in the company's commercialization strategy for 2023

Steakholder Foods (Nasdaq: STKH), an international deep-tech food company at

the forefront of the cultivated meat industry, has received its first grant to

develop 3D-printed structured eel and grouper products with Singaporean

cultivated fish and seafood company Umami Meats. The initiative is being funded

by a grant from the Singapore Israel Industrial R&D Foundation (SIIRD), a

cooperation between - Enterprise Singapore (ESG) and the Israel Innovation

Authority (IIA).

(PRNewsfoto/Steakholder(TM) Foods Ltd.)

Steakholder Foods' partnership with Umami Meats offers a unique opportunity for

market entry in the only country in the world where cultivated meat has

regulatory approval. The collaboration aims to develop a scalable process for

producing structured cultivated fish products. Steakholder Foods will use its

newly developed technology for mimicking the flaky texture of cooked fish that

was recently submitted for a provisional patent application.

The project's first prototype, a structured hybrid grouper product, is expected

to be completed by Q1 2023. The product will be printed using Steakholder

Foods' proprietary 3D bio-printing technology and bio-inks that will be

customized for Umami Meats' cells.

Yair Ayalon, VP of Business Development, Steakholder Foods: "Industry

collaborations are a critical aspect of our long-term business strategy. Our

partnership with Umami Meats is especially meaningful following our recent

patent application for fish texture and because it is being supported by a

joint Israeli/Singaporean government initiative of which we are very proud to

be a part."

Mihir Pershad, CEO and Founder at Umami Meats: "We are thrilled to be combining

our deep knowledge and experience in cultivated seafood with Steakholder Foods'

innovative 3D bio-printing technology. We believe this partnership will help us

advance our vision of a new, more sustainable food system for preserving our

marine ecosystems while delivering exceptional, high quality seafood to meet

growing consumer demand."

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.

For more information, please visit: https://steakholderfoods.com.

About Umami Meats

Umami Meats is cultivating a sustainable seafood future by producing delicious,

nutritious, affordable cultivated seafood that is better for our health, our

oceans and our future. Umami Meats' cultivated, not-caught seafood offers

equivalent nutrition to traditional seafood and provides a delicious culinary

experience free from heavy metals, antibiotics, and microplastics.

Umami Meats has also been recognized as a semi-finalist in the XPRIZE Feed the

Next Billion competition, a finalist in the Fi Global Startup Innovation

Challenge, a member of Forward Fooding's 2021 FoodTech 500 list, and as the

Best Emerging Sustainable Seafood Company – Southeast Asia in the 2021 Global

Green Business Awards.

About SIIRD

The Singapore Israel Industrial R&D Foundation (SIIRD) is a cooperation between

the Enterprise Singapore (ESG) and the Israel Innovation Authority to promote,

facilitate and support joint industrial R&D collaboration between

Singapore-based companies and Israel-based companies across different

industries. SIIRD seeks to promote research and development in Singapore and

Israel by helping Singapore-based and Israel-based companies with R&D Partner

Search, and providing up to US $1M in funding for joint R&D projects or pilot

projects between them.

Forward-Looking Statements

This press release contains forward-looking statements concerning Steakholder

Foods' business, operations and financial performance and condition as well as

plans, objectives, and expectations for Steakholder Foods' business operations

and financial performance and condition. Any statements that are not historical

facts may be deemed to be forward-looking statements. Forward-looking

statements reflect Steakholder Foods' current views with respect to future

events and are based on assumptions and subject to known and unknown risks and

uncertainties, which change over time, and other factors that may cause

Steakholder Foods' actual results, performance or achievements to be materially

different from any future results, performance or achievements expressed or

implied by the forward-looking statements. Forward-looking statements include,

without limitation, any statement that may predict, forecast, indicate or imply

future results, performance or achievements, and are typically identified with

words such as "may," "could," "should," "will," "would," "believe,"

"anticipate," "estimate," "expect," "aim," "intend," "plan" or words or phases

of similar meaning and include, without limitation, Steakholder Foods'

expectations regarding the success of its cultured meat manufacturing

technologies it is developing, which will require significant additional work

before Steakholder Foods can potentially launch commercial sales; Steakholder

Foods' research and development activities associated with technologies for

cultured meat manufacturing, including three-dimensional meat production, which

involves a lengthy and complex process; Steakholder Foods' ability to obtain

and enforce its intellectual property rights and to operate its business

without infringing, misappropriating, or otherwise violating the intellectual

property rights and proprietary technology of third parties; and other risks

and uncertainties, including those identified in Steakholder Foods' Annual

Report on Form 20-F for the fiscal year ended December 31, 2021, filed with the

Securities and Exchange Commission on March 24, 2022. New risks and

uncertainties may emerge from time to time, and it is not possible for

Steakholder Foods to predict their occurrence or how they will affect

Steakholder Foods. If one or more of the factors affecting Steakholder Foods'

forward-looking information and statements proves incorrect, then Steakholder

Foods' actual results, performance or achievements could differ materially from

those expressed in, or implied by, forward-looking information and statements

contained in this press release. Therefore, Steakholder Foods cautions you not

to place undue reliance on its forward-looking information and statements.

Steakholder Foods disclaims any duty to revise or update the forward-looking

statements, whether written or oral, to reflect actual results or changes in

the factors affecting the forward-looking statements, except as specifically

required by law.

Logo - https://mma.prnewswire.com/media/1871733/Steakholder_Foods_Ltd_logo.jpg

Press contact:

Maissa Dauriac

Rainier Communications

mdauriac@rainierco.com

Investor contacts:

Joseph Green

Edison Group

jgreen@edisongroup.com

Ehud Helft

Edison Israel

ehelft@edisongroup.com

Source: Steakholder Foods Ltd.