Steakholder Foods Adds Plant-Based Shrimps to Expanding Range of 3D-Printed Seafood and Analogues

Rhea-AI Summary

Steakholder Foods Ltd. (Nasdaq: STKH) has expanded its 3D-printing capabilities with the world's first plant-based, 3D-printed shrimps, designed to mimic the texture and flavor of conventional shrimps. The shrimp market is worth more than USD 60 billion, and is projected to continue growing substantially over the coming decade. With 7.6 million tons of shrimp harvested in 2023, Steakholder Foods aims to provide partners and customers with a practical and environmentally-friendly alternative to traditional shrimp farming.

Market Research Analyst

The introduction of a plant-based, 3D-printed shrimp by Steakholder Foods Ltd. represents a significant innovation within the alternative protein sector, which is part of the broader food industry. This sector has been experiencing growth due to increasing consumer demand for sustainable and ethical food choices. The company's ability to mimic the texture and flavor of conventional shrimp could be a game-changer in the market, especially considering the environmental concerns associated with traditional shrimp farming.

From a market perspective, the potential impact on the $68 billion shrimp industry cannot be overstated. If Steakholder Foods' product is adopted on a large scale, it could disrupt the market dynamics by providing a sustainable alternative that may appeal to both environmentally conscious consumers and those with dietary restrictions. Moreover, the technology could enable the company to capitalize on economies of scale and reduce production costs over time, potentially leading to competitive pricing and higher profit margins.

Financial Analyst

Steakholder Foods' announcement regarding its proprietary 3D-printed shrimp product has implications for the company's financial performance. Investors should note the strategic positioning of the company in a growing niche market. The successful commercialization and scaling of this technology could lead to new revenue streams and diversify the company's product portfolio, which is crucial for long-term financial stability.

Additionally, the ability to sell and deliver the DropJet printer itself presents an opportunity for recurring revenue through printer sales, maintenance and supply of proprietary 'shrimp-flavored ink'. However, investors should remain aware of the challenges in scaling up new technologies and the associated R&D costs that may impact short-term profitability. The market's reception of the product and the technology's integration into existing supply chains will be critical factors in assessing the company's future financial health.

Environmental Sustainability Expert

The environmental implications of Steakholder Foods' 3D-printed shrimp are particularly noteworthy. Traditional shrimp farming is associated with several ecological issues, including habitat destruction, overfishing and water pollution. The introduction of a plant-based alternative could mitigate these environmental impacts significantly. By offering a high-volume, efficient and sustainable production method, the company aligns with global efforts to reduce the carbon footprint of the food industry.

Furthermore, the adoption of such technologies by partners and customers reflects a growing trend in the food industry towards sustainability. The long-term benefits could include a reduction in the depletion of marine biodiversity and a shift towards more responsible consumption patterns. This innovation not only has the potential to reshape the shrimp industry but also to contribute to broader environmental goals.

Shrimp Analogue is Latest in Growing Range of Proprietary Printer Capabilities; Has Potential to Reshape the $68 Billion Shrimp Industry

REHOVOT, Israel, Jan. 22, 2024 /PRNewswire/ -- Steakholder Foods Ltd. (Nasdaq: STKH), a leader in cultivated meat and 3D bioprinting technology, is excited to announce that it has further expanded its 3D-printing capabilities with the world's first plant-based, 3D-printed shrimps, expertly designed to mimic the authentic texture and flavor of conventional shrimps. The shrimps were precision-printed on Steakholder Foods' proprietary DropJet printer, designed for fish and seafood printing, using shrimp-flavored ink developed by Steakholder Foods' food technology team. It is the latest addition to the Company's portfolio of printed seafood products to be offered to potential customers, on a plant (analogue) or potentially hybrid (combination plant and cultivated) basis, as economies of scale develop to enable price-competitive cell development.

The shrimp market is worth more than USD 60 billion, and is projected to continue growing substantially over the coming decade. With 7.6 million tons of shrimp harvested in 2023, Steakholder Foods' heavy-duty production printing solution aims to provide partners and customers with the means to meet growing demand through high-volume, efficient, and sustainable production, offering a practical and environmentally-friendly alternative to traditional shrimp farming.

Arik Kaufman, CEO of Steakholder Foods, said: "By unveiling a second new species of plant-based, 3D-printed seafood this month, we expect to position Steakholder Foods to sell and deliver its first DropJet printer in 2024, offering partners and customers a unique opportunity to benefit from the expanding global seafood market, while making the right kind of impact on the environment."

About Steakholder Foods

Steakholder Foods 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", with headquarters in Rehovot, Israel.

The company is developing a slaughter-free solution for producing cellular agriculture meat products, such as beef and seafood, by offering manufacturers the ability to produce a cultivated meat product that aims to closely mimic the taste, texture, and appearance of traditional meat— 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

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, 2022, filed with the Securities and Exchange Commission on April 4, 2023.  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.

 

Press Contact:	Investor Contacts:
Maissa Dauriac  Rainier Communications  mdauriac@rainierco.com	Steakholder Foods  Investors@steakholderfoods.com

Logo - https://mma.prnewswire.com/media/1871733/Steakholder_Foods_Ltd_logo.jpg
Photo - https://mma.prnewswire.com/media/2323417/Steakholder_Foods_1.jpg
Photo - https://mma.prnewswire.com/media/2323418/Steakholder_Foods_2.jpg

 

 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/steakholder-foods-adds-plant-based-shrimps-to-expanding-range-of-3d-printed-seafood-and-analogues-302040544.html

SOURCE Steakholder Foods Ltd.

FAQ

What is the latest addition to Steakholder Foods' portfolio of printed seafood products?

The latest addition is the world's first plant-based, 3D-printed shrimps, designed to mimic the texture and flavor of conventional shrimps.

What is the projected worth of the shrimp market?

The shrimp market is worth more than USD 60 billion and is projected to continue growing substantially over the coming decade.

What is the potential impact of Steakholder Foods' 3D-printed shrimps on the environment?

Steakholder Foods aims to provide partners and customers with a practical and environmentally-friendly alternative to traditional shrimp farming.

What is the CEO of Steakholder Foods, Arik Kaufman, expecting from the new 3D-printed shrimps?

Arik Kaufman expects to position Steakholder Foods to sell and deliver its first DropJet printer in 2024, offering partners and customers a unique opportunity to benefit from the expanding global seafood market while making the right kind of impact on the environment.