Tuesday, November 3, 2020

Meat-Tech 3D Ltd. Announces Successful $7 Million Funding Round led by Psagot Provident Funds and other leading institutional investors

NESS ZIONA, Israel, Nov. 3, 2020 /PRNewswire/ -- Meat-Tech 3D Ltd. (TASE: MEAT), a developer of industrial-scale cultivated meat production technologies based on advanced 3D bioprinting, today announces that it has closed a fund raising round of $7 million.


The investment round was led by institutional investors Psagot Provident and Pension Funds, included the Mor investment house as well as private investors.


Gat Megiddo, VP of Investments at Psagot, stated: "The Investment in Meat-Tech aligns with our investment strategy focusing on high impact companies. Companies which we believe have great economic potential, as well as a potentially huge contribution to the environment. Meat-Tech has made impressive progress with its development pipeline, in addition to the strategic acquisition that the company is working to complete. The acquisition promotes a foothold in the global protein alternatives market which is showing great momentum."


Meat-Tech's CEO Sharon Fima commented: "We thank our investors for their confidence in the company's activities and vision. The investment round enables us to progress the recently announced Peace Of Meat acquisition, strengthening an important part of our R&D and opening up new markets such as that for hybrid products."


This announcement is made pursuant to, and in accordance with, Rule 135 of the Securities Act of 1933, as amended. This announcement does not, and is not intended to, constitute an offer to sell or a solicitation of an offer to purchase any securities in the United States or elsewhere, and it does not, and is not intended to, constitute an offer, solicitation or sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The information detailed above in this announcement, regarding the Company's intentions, is "forward-looking" information as defined in the Israeli Securities Law, 1968, and regulations thereunder, based on information known to the Company at this time, as well as forecasts whose fulfillment depends, inter alia, on entities not under the Company's control as stated above.


About Meat-Tech 3D


Meat-Tech 3D (TASE: MEAT) is a research and development company aiming to develop commercial and sustainable technologies to manufacture alternative proteins with no need for animal slaughter. Meat-Tech is developing a unique, proprietary bioprinter to deposit layers of cells (including stem cells and differentiated stem cells), scaffolding, and cell nutrients in a three-dimensional form of structured cultured meat, often called "clean meat" or "cultured meat." For more information, please visit www.meatech3d.com.


COMPANY / INVESTOR CONTACT: Meron Aronovitch, Communications Specialist, PressTarget: [email protected]


SOURCE Meat-Tech 3D Ltd.


Related Links

https://meatech3d.com


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