Steakholder Foods Secures Grant Funding
Steakholder Foods, a pioneer in crafting meat and seafood alternatives using cutting-edge 3D printing technology, has successfully secured a $250,000 installment of grant funding from the Singapore-Israel Industrial R&D Foundation (SIIRD). With this latest payment, the company has now received a total of $740,000 from the overall $1 million grant awarded.
The journey began in March 2024, when Steakholder Foods first received grant funds following its impressive development of hybrid fish alternatives through its advanced printing methods. A subsequent installment followed in November 2024, acknowledging the firm’s achievements in producing not just plant-based fish, but unique 3D-printed eel products as well.
Research and Development Innovations
This most recent payment acknowledges the strides the company has made in perfecting the taste and texture of its 3D-printed eel. Their research effort is expansive, focusing on everything from model planning and material innovation to the formulation of premixes and the production of the final products.
Over the past year, Steakholder Foods has not only forged its first revenue stream by selling plant-based fish premix blends but has also wrapped up a two-year partnership with UMAMI Bioworks. This collaboration aimed at creating a scalable production method for 3D-printed cultivated fish has benefitted from SIIRD’s support throughout its duration.
Future Directions and Market Expansion
In a recent conversation about the company’s horizon, CEO Arik Kaufman shared his optimism for 2025. He pointed out that acquiring key purchase orders will play a vital role in establishing a consistent revenue flow, paving the way for the launch of their exciting new series, “Whaat Meat?! by Steakholder.”
Looking to the future, Steakholder Foods plans to expand its global presence, intensify its commercialization efforts, and deepen its involvement in the U.S. market. Kaufman expressed his enthusiasm for receiving this third non-dilutive funding installment from SIIRD, viewing it as a testament to the significant progress made in partnership with UMAMI Bioworks and their ongoing commitment to enhancing food technology. He also highlighted the firm’s efforts to fine-tune their 3D printing techniques and premix formulations, aimed at delivering even higher-quality, sustainable seafood alternatives.
Source: Vegconomist