MeaTech 3D Ltd., a cultivated meat pioneer, announces it has entered a definitive agreement with a U.S. institutional investor for the purchase and sale of 1,857,143 American Depositary Shares and warrants. Upon closing of the offer on July 5, the agreement is expected to yield gross proceeds of $6.5M.
Founded in Israel, MeaTech specializes in 3D printing of cultured meat and is the world’s only publicly listed cultured meat company. As part of its growth strategy, it acquired cultivated fats company Peace of Meat in 2020 and entered the US market earlier this year. Vegconomist has extensively covered this company’s fascinating progress – here’s look at some of MeaTech’s most notable developments:
2020:
- October – Invests €1M in Belgian cultured fat startup Peace of Meat
- November – Files for IPO in USA
- November – Announces $7M funding round
- December – Fully acquires Peace of Meat
2021:
- March – Announces $25M US Initial Public Offering
- June – Files US patent for novel bioprinting method
- September – Produces 700g of cultured chicken fat in minimal production time
- December – Bioprints largest cultured steak to date
2022:
- March – Launches MeaTech USA in California
- March – With Peace of Meat, opens a cultivated meat pilot plant in Belgium
- April – Offers cultivated meat samples at IFFA, the world’s largest meat fair
Driving real change
In an interview with vegconomist, Simon Fried, Business Development Executive at MeaTech, stated, “We go to work knowing what we are doing has the potential to drive real change…We believe cultured meat and other new food technologies, like precision fermentation, will ultimately change the relationship between food production and agriculture. Tomorrow’s agriculture will probably require much less land, have a much smaller environmental footprint, and ensure more local and flexible supply.”
