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MeaTech 3D Reports 2021 Financial Results and Provides Business Update

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Printing the largest ever cultivated steak and partnering with the BlueSoundWaves collective, led by Ashton Kutcher, Guy Oseary and Effie Epstein, to propel the company’s go-to-market strategy

Rehovot, Israel, March 24, 2022 – MeaTech 3D Ltd. (Nasdaq: MITC) (“MeaTech”) announced today its financial results for 2021. The company is also providing an update to investors on recent business developments. MeaTech is an international deep-tech food company at the forefront of the cultured meat industry. The company is using science and technology to develop high-quality delicious and nutritious real meat products that are cell-based, slaughter free and safer than farm-raised meat.

2021 Financial Results Summary

Arik Kaufman, MeaTech’s Chief Executive Officer: “2021 marked a major turning point for MeaTech as we continue our quest to be positioned as the leaders in the cultured meat space. With our acquisition of Peace of Meat, our Belgian subsidiary, and the establishment of MeaTech Europe, we created a broad base of business with an infrastructure for offering cultured fat biomass as an ingredient to improve the taste and texture of alternative meat products. Throughout last year and into the beginning of this year, we made groundbreaking progress with our technological capabilities, which culminated in the world’s largest ever 3D-printed cultivated steak and promising results with our muscle stem cell differentiation. Looking ahead, we will be expanding the company’s operations. A memorandum of understanding has been signed for the establishment of a pilot plant in Belgium to accelerate the production of cultured chicken fat, and we are also, in the process of expanding to the US to advance our cellular technology.”

 

Business highlights and developments during 2021 and to date:

About MeaTech 3D

MeaTech 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 “MITC”. MeaTech maintains facilities in Rehovot, Israel and Antwerp, Belgium and is in the process of expanding activities to California, USA. The company believes cultivated meat technologies hold significant potential to improve meat production, simplify the meat supply chain, and offer consumers a range of new product offerings.

MeaTech aims to provide an alternative to industrialized animal farming that dramatically reduces carbon footprint, minimizes water and land usage, and prevents the slaughtering of animals. By adopting a modular factory design, MeaTech will be able to offer a sustainable solution for producing a variety of beef, chicken and pork products, both as raw materials and whole cuts. The company will also provide meat manufacturers and retail businesses with production equipment.

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