Are we about to see a
comeback?
Steakholder Foods Charges Forward
with New Commitments from Multiple International Players as it
Transitions to Revenue Generation
November 18th, 2024 --
InvestorsHub NewsWire -- PESG Research
-- Steakholder
Foods (NASDAQ:
STKH), a trailblazer in alternative proteins, has
announced six new Letters of Intent (LOIs) with international
companies, signaling its accelerating transition to revenue
generation. These LOIs involve the anticipated purchase of the
company’s proprietary 3D food printing systems and plant-based
premixes, further solidifying Steakholder’s global presence in the
alternative protein industry.
The news follows
Steakholder Foods’ standout performance at the Plant-Based World
Expo in London, where it won three prestigious awards: a Gold for
its Salmon Patty, a Silver for its Fish Kebab, and a Bronze for its
Beef Alternative. Together, these milestones highlight the
company’s resurgence as a key player in food-tech innovation,
leveraging cutting-edge technology to meet growing demand for
sustainable food solutions.
The six LOIs add to a
growing list of Steakholder Foods’ recent commercial achievements.
Earlier this year, the company secured its first purchase orders
from Wyler Farm and Bondor Foods for its 3D printers and premixes.
Wyler Farm plans to use the SH™-Beef premix for a new range of
plant-based burgers and meatballs, while Bondor Foods is utilizing
Steakholder’s proprietary formulations to produce white fish and
salmon patties.
Steakholder Foods also
received funding from the Singapore-Israel Industrial R&D
Foundation (SIIRD) to develop plant-based seafood alternatives. The
$1 million grant has supported breakthroughs in 3D-printed hybrid
fish and eel, showcasing the company’s ability to replicate the
texture and flavor of traditional seafood—a major challenge in the
industry.
“This is a transformative
time for Steakholder Foods,” said CEO Arik Kaufman. “The new LOIs,
combined with our recent commercial agreements and industry awards,
reflect the growing global demand for our innovative solutions.
These milestones mark critical steps in our journey to becoming a
revenue-generating company, driving sustainable, cruelty-free food
production while delivering value to
shareholders.”
Industry
Recognition at Plant-Based World Expo
The Plant-Based World Expo,
Europe’s largest event dedicated to plant-based innovation, served
as a showcase for Steakholder Foods’ groundbreaking technology and
products. The company presented over 2,000 tasting samples, drawing
large crowds to its booth and generating significant interest from
potential partners.
The Gold Award for its
Salmon Patty, in particular, highlights Steakholder’s ability to
tackle one of the most challenging segments in plant-based food
production. Creating a plant-based salmon that mimics the texture
and flavor of its traditional counterpart has been a formidable
challenge for many in the industry. Steakholder’s achievement
underscores the capabilities of its 3D printing systems and
proprietary formulations.
“These awards are more than
just recognition—they’re proof that we’re meeting consumer and
industry expectations,” Kaufman said. “They reinforce our position
as a leader in the alternative protein space and validate our
commitment to innovation.”
A Growing Revenue
Pipeline
The six new LOIs represent
a significant boost to Steakholder Foods’ revenue pipeline as the
company moves closer to full-scale commercialization. Spanning
various international markets, the agreements involve the
anticipated sale of its HD144 3D printers and tailored premix
blends, providing partners with a turnkey solution for producing
scalable, high-quality plant-based foods.
Earlier milestones, such as
the initial orders from Wyler Farm and Bondor Foods, demonstrate
Steakholder’s ability to convert interest into actionable
commercial agreements. Together with the LOIs, these deals form the
foundation for a growing network of partners poised to leverage
Steakholder’s technology to meet increasing global demand for
sustainable protein alternatives.
Well Positioned in
a Booming Market
The alternative protein
market, currently valued at $76.3 billion, is projected to reach
$423 billion by 2033. This growth is fueled by rising consumer
awareness of sustainability, health, and ethical concerns.
Steakholder Foods, with its unique blend of lab-grown and
plant-based technologies, is well-positioned to potentially
capitalize on these trends.
The company’s ability to
offer innovative solutions, from 3D-printed salmon to hybrid
seafood, sets it apart from competitors. By addressing both taste
and scalability, Steakholder Foods is helping manufacturers meet
consumer demand while reducing reliance on traditional animal
agriculture.
Looking Ahead: A
Promising Future
The latest LOIs and
industry accolades signal that Steakholder Foods is not making
significant progress but but potentially also could potentially
respark the interest of investors in the fast growing sector, as it
shifts from theory to reality. Steakholders commercialization
news, coupled with the technical excellence of its products,
positions the company to benefit from the surging demand for
alternative proteins.
As it builds on its
momentum, Steakholder Foods seems to remain a potentially
compelling case for investors looking at the future of food. With a
growing portfolio of commercial agreements, a strong revenue
pipeline, and an expanding global presence, the company is proving
that it has the tools—and the strategy—to lead the next wave of
sustainable food innovation.
In an industry that has
faced many challenges, Steakholder Foods’ recent milestones
suggest it could be rewriting the story and might
become a cornerstone in the alternative protein
revolution
Read PESG
Research's previous
report on Steakholder Foods titled
“Steakholder Foods Delivering on Commercialization Promise;
Strategic Partnerships and Revenue Streams Fuel Alternative Protein
Expansion” https://bit.ly/3Zapfo7
About PESG
Research
PESG Research is a
commercial digital commentary brand, offering coverage and
exploration into companies and sectors in the fields of Pharma,
BioTech, Sustainability, and several other innovative
industries.
This article is for
informational purposes only and is not intended to serve as
medical, pharmacological, financial, investment or any form of
professional advice, recommendation or endorsement. This article
may include forward looking statements. Readers are cautioned that
any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual
results may differ materially from those in the forward-looking
statements as a result of various factors. Penny Stocks and
early-stage companies in emerging industries are especially
volatile and risky, and readers are advised to seek out
professional advice in the relevant fields from licensed
professionals. PESG is a digital brand operated commercially for IR
purposes and its operators are compensated to publish and syndicate
coverage by and of the issuer aforementioned (STKH) and is thus
subject to multiple conflicts of interest as detailed in the full
documentation detailing financial compensation disclosures and
important disclaimers we encourage readers to review, in accordance
with section 17(b) of the US Securities Act: https://justpaste.it/bdh8v/pdf
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