NEW TECH FOODS

Israel’s Steakholder Foods has received its first purchase order from Wyler Farm under the commercial cooperation agreement signed in May this year.

This order expands Steakholder Foods’ premix revenue stream to include its proprietary SH Beef premix blend, following the company’s earlier announcement this month of its first premix revenue stream for its SH Fish premix blend.

The purchase order follows the commercial cooperation agreement between Steakholder Foods and Wyler Farm. Under the terms of this agreement, Steakholder Foods will supply its proprietary SH Beef premix blend for integration into Wyler Farm’s new product line of plant-based meatballs, burgers and minced beef, scheduled for market introduction in early 2025.

The initial production phase has begun at Wyler Farm’s facilities and will allow Wyler Farm to fine-tune production processes to ensure the products are ready for a successful market launch.

The new product line will be marketed and sold under Wyler Farm’s brand ‘Whaat Meat?! by Steakholder’ and will be distributed through Wyler Farm’s distribution channels.

Arik Kaufman, CEO of Steakholder Foods, said: “We are thrilled to see production at Wyler Farm commencing on schedule, keeping planned product rollout on track no later than early 2025. This first order for our SH Beef premix blend...demonstrates our ability to generate recurring revenue across multiple products and partners.”

Kaufman continued: “As these initial commercial deals mature in 2025, we expect to see meaningful revenue growth and increased interest from other potential market participants. We remain focused on expanding our commercial presence in the alternative protein sector and are well-positioned to forge additional collaborations.”

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