Steakholder Foods Ltd. announced that it has entered into a Memorandum of Agreement for Strategic Cooperation (MOA) with an accredited GCC-based governmental body as Steakholder Foods' strategic partner, to advance food security efforts through the application of Steakholder Foods' 3D printing technology. Commencing with an investment by the strategic partner in the construction of a pilot plant to produce hybrid-fish products, the MOA eventually aims to create a first-of-its-kind large-scale production facility in the Tampa Gulf region. The agreement foresees a material initial down payment to Steakholder Foods for the procurement of its 3D-printer technologies, followed by a milestone-based sales and procurement plan for industrial-scale output.

The MOA is intended to contribute to the scalability of Steakholder Foods' 3D-printed food technology in territories in the Gulf Cooperation Council ("GCC"), which represents the economic union between Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The collaboration between the partners will leverage Steakholder Foods' expertise in providing mature Ready-to-Cook (RTC) 3D printer technologies and customized bio-inks, tailored to produce a wide range of species-specific cultivated fish and meat products, as well as vegetable-based products. The partners also seek to utilize Steakholder Foods' advanced technology to overcome the limitations of traditional fish and meat production, ensuring consistent, nutritious, and safe food products that closely mimic the taste, texture, and appearance of conventional meat, fish and vegetable-based products.

The collaborative efforts outlined in the MOA signify a shared vision and commitment to food security, in a future where access to nutritious and sustainable food is within reach for all.