Peace of Meat was founded in 2019, by Dirk Standaert, David Brandes and Eva Sommer. The start-up perfected a technology to produce animal fats, specifically those from chickens and ducks, using stem cells in bioreactors. Animal fat is the one thing that’s missing from plant-based meats, causing them to fall short on the meatiness scale. For its research into cultivated foie gras, Peace of Meat received a subsidy of EUR 3.6 million from the government of Flanders. Now, only two years later, the young start-up is joining forces with Israeli MeaTech 3D.
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MeaTech 3D (IL) and Peace of Meat cook up acquisition
We are very excited about this acquisition. Combining our forces will make us stronger in our pursuit of a more sustainable planet.
MeaTech 3D is a specialist in the 3D printing of meat substitutes. The food tech company aims to develop artificial meat that’s virtually indistinguishable from real meat when it comes to bite, texture, taste and appearance. The firm is working on a novel proprietary bioprinter to deposit layers of cells, scaffolding and cell nutrients to form 3D printed cultured meat.
In November 2020 the company announced that it collected USD 7 million in a funding round led by investment firm Psagot Provident and Pension Funds. It is now in the process of filing for an Initial Public Offering (IPO) in the US to commence trading on the Nasdaq Stock Market.
To further its ambitions, the Israeli company decided to set up a new subsidiary 'MeaTech Europe' in Flanders. With the ultimate aim to lease its cultured meat 3D printing technologies to major food producers around the globe, they are open to additional acquisitions, such as that of Peace of Meat.
Together, these trailblazers in lab-grown meat seek to commercialize hybrid food, a tasty mixture of plant proteins and cultured fats. The Israeli company is planning its first product launch in 2022.
We introduced MeaTech 3D to the benefits of Flanders and provided them with all the necessary information and contacts to move their investment plans forward.
Thanks to the excellent support of Flanders Investment & Trade, MeaTech 3D easily got its bearings in Flanders. They introduced us to local service providers and several banks. In the end, we chose to work with BNP Paribas Fortis, leveraging their local presence in Israel.
Peace of Meat is not merely looking for plant-based alternatives for meat. Instead, lab-grown cells are transformed into meat structures. The company is now concentrating on optimizing this technology to enable cultured meat production at an affordable price.
Jointly, Peace of Meat and MeaTech 3D are hoping to compete with American multi-dollar companies such as Beyond Meat and Impossible Foods. Meatless meat is big business in the US, attracting wealthy entrepreneurs, celebrities and even Don Thompson, the former CEO of McDonald's, and Tyson Foods, the country’s largest meat processor.