Steakholder Foods Ltd. Q2 FY2021 earnings call

• Listed on NASDAQ in March 2021 as the first cultured meat company publicly traded in the US.
• Expanded portfolio to include cultured chicken and pork via acquisition of Peace of Meat in February 2021, bringing advanced avian technology.
• Commenced development of hybrid foods, a step towards commercialization of cultured products.
• Plan to establish a pilot manufacturing plant in Belgium in 2022 for cultured chicken fat production.
• Goal to print 100 grams of complex tissue using proprietary 3D bioprinting technology by year-end.
• Focus on 3D bioprinting technology for industrial scale manufacturing of cultured meat and hybrid products, and working towards regulatory approval in selected markets.

MeaTech is an early-stage company in the development of cultured meat technology and has not generated revenue. It is focused on areas like developing cultured meat ingredients, enhancing 3D bioprinting technology, and working on hybrid products, but no specific product segments with revenue contribution to report.

• Cash burn from operating activities expected to double to approximately $1.8 million per month going forward.
• Plan to establish a pilot plant in Belgium in 2022.
• Goal to print 100 grams of complex tissue using proprietary 3D bioprinting technology in 2021.

• Regulatory uncertainties in obtaining approvals from agencies like FDA, USDA, and international regulators.
• Uncertainties regarding the maturation and scaling of 3D bioprinting technology.
• Cash burn risk as the company is in research and development with no current revenue.

Q: Is there any interest to have technology brought to the United States and build more factories?

A: The US is a major market focus. Currently in R&D stage with a pilot plant planned in Belgium for 2022, expecting technology to mature and market proximity to increase.

Q: About the Peace of Meat acquisition, was the company involved in avian protein before and can their technology integrate with other protein types?

A: Acquisition upgraded avian cell technology, previously had chicken tech activities folded into Peace of Meat's activities. Potential to apply avian-derived technologies to other protein types and bioprinting.

Q: Can you give a view on the cash burn situation?

A: Cash burn from operating activities in first six months was ~$5 million, expected to double to ~$1.8 million per month going forward.

Q: Detail on FDA regulation in the US and approval process?

A: Regulated by FDA and USDA in US, working with consultants, regulatory landscape unfolding, with positive stances in EU and Asia.

Q: Why is MeaTech's work being done?

A: To address growing population, meat demand, environmental impact, and provide real meat experience with sustainable production.

Q: Is there 3D meat in fast food or restaurants as we speak?

A: Currently not, initially expected in premium market, then moving to mass market over time