Steakholder Foods (NASDAQ: STKH) made waves today when they announced that they have landed a deal with the Gulf Cooperation Council, which represents the economic union between Kuwait, Qatar, Saudi Arabia and the UAE, amongst others.
The deal, which is worth multiple millions, is set to leverage the 3D printing technology of Steakholder Foods to produce structured foods and hybrid cultivated fish and meat.
Why It Matters:
- One of the looming concerns about cultivated meat- also known as lab grown meat- is that it is not commercially viable or desirable to consume. This announcement is a strong signal to the contrary, which bodes well for the cell cultivated meat space as a whole
- Steakholder Foods has seen investment from Ashton Kutcher and Guy O’Seary, amongst other notable venture capitalists, and this deal is important validation of Steakholder’s technology and science
Market Reaction:
- Steakholder Foods closed the day up +21%
