Ophectra Real Estate and Investments Ltd. on Wednesday reported that it has signed a memorandum of understanding (MOU) to merge with MeaTech, which is developing technology for the 3D printing of lab-grown Clean Meat produced from stem cells.
MeaTech is an Israeli high-tech company engaged in the food-tech sector, which has recently completed a NIS 7 million seed financing round. The company is developing an advanced and unique technological process for the industrial production of clean meat without slaughtering animals, by using 3D stem cell printing technology.
MeaTech has recently submitted several applications to register patents in its field and has entered into collaborations with leading, world-renowned academic organizations in the realm of food tech.
The company is led by founder and CEO Sharon Fima, along with Professor Tal Dvir of Tel Aviv University, and Professor Shlomo Magdassi, of the Hebrew University of Jerusalem.
MeaTech is currently building a prototype printer and completing the mapping of its work processes and development.
Ophectra CEO Shmuel Levy said the company looks forward to merging with a company involved in the growing food tech sector, which has excellent prospects for the future – morally, environmentally and financially.
“We are delighted to move ahead with the merger deal with a company engaged in the food-tech sector, developing 3D printed meat. It is a growth sector due to enhanced public recognition of the need for meat that is produced from technological processes that do not involve raising and slaughtering livestock while maintaining sterilized conditions without contamination, as well as the expected savings in costs,” he said.
“MeaTech is led by experienced managers in the field of 3D printing and top professionals from Israel’s leading universities, who have already raised capital for the project’s initial development from leading investors who believe in the future development of the alternative meat sector,” he added.