Israeli food-tech company MeaTech 3D Ltd. (Nasdaq: MITC and TASE: MITC) announced today that it has expanded R&D activities focusing on cell lines and technologies for potential future mass production of cultivated pork. MeaTech is developing advanced manufacturing technologies to produce cultured meat products, which already includes beef and chicken cell lines, without the need for slaughtering animals. MeaTech notes that pork is currently the most consumed meat worldwide and in the US alone the market is worth $20 billion annually.
Initial R&D activities will focus on developing stable porcine cell lines which, if developed, the company says, have the potential to initiate cultivated pork biomass production capabilities.
MeaTech CEO Sharon Fima said, "Our goal is to lead the upcoming agricultural revolution by making tomorrow's meat safe, plentiful, sustainable, and ethical. MeaTech is developing a broad range of cultured meat technologies, developing potential alternatives to conventional factory farming of beef, chicken and now, pork. We believe that offering additional cultivated meat product lines can widen our addressable markets, generating additional revenue potential. Our goal is to be similar in all respects to livestock-farmed pork meat, while offering a significantly more sustainable and slaughter-free production method."
MeaTech listed on the TASE in 2019 after merging with the stock market shell of Ophectra Real Estate. In March 2021, the company also listed on Nasdaq, becoming the first company traded on Wall Street, which is developing cultured meat.
Published by Globes, Israel business news - en.globes.co.il - on July 6, 2021
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