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Cell-cultured Meat
MeaTech reports FY2021 results
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MeaTech reported an EPS loss of USD 0.16 in FY 2021 vs an EPS loss of USD 0.31 in FY 2020. Adjusted for the one-off public listing expense in FY 2020, the EPS loss increased to USD 0.16 in FY 2021 compared to USD 0.14 in FY 2020. The company has not yet generated any revenue since the commencement of its operations.
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The company’s R&D expenses for FY 2021 more than tripled to USD 7.6 million from USD 2.5 million in FY2020, reflecting MeaTech’s ongoing investments in R&D throughout the year.
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Other key milestones for FY2021 to date and recent operational highlights include:
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Finalizing the acquisition of Peace of Meat, a Belgium-based cell-cultured chicken and fat developer.
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<ul><li> Partnerships: 1) Sound Ventures , led by Ashton Kutcher and businessman Guy Oseary, to accelerate commercialization and global expansion. 2) Tiv Ta’am , the largest food conglomerate in Israel, to jointly develop new cultured pork products, construct a new facility, and distribute the products to consumers.</ul>
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<ul><li> Operational highlights : 1) Grew 700 grams of chicken-fat biomass in a single run at its Peace of Meat subsidiary. 2) Printed the largest cell-cultured steak (3.67 oz) to date. 3) Introduced a novel muscle stem-cell differentiation process accelerating the formation of muscle fibers in the steak. 4) Announced expansion into the US under the “ MeaTech US ” brand, and plans for a new facility in Belgium built by its subsidiary Peace of Meat.</ul>
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