Management Changes In Steakholder Foods, formerly MeaTech 3D, Are A Major Incentive To Investors
Steakholder Foods, formerly MeaTech 3D, is a global food technology company using advanced biotechnology and engineering capabilities to develop slaughter-free, real meat, which is delicious, nutritious, and safer than conventional meat. The company is aiming to circumvent the unsustainable challenges faced by the conventional animal husbandry sector including the enormous carbon footprint, water resource challenges, and animal welfare issues. MeaTech’s modular factory design allows the company to create a sustainable solution for a wide variety of species including chicken, beef, and pork. The company was the first cultivated meat company to go public with a $US28 million IPO in March 2021, following several funding rounds in 2020 totaling $US16.5 million. Steakholder Foods, formerly MeaTech 3D, has recently announced significant management changes with a view to capturing the enormous, cultivated meat growth opportunity. We discuss the implications below.