The Belgian cultural meat company Peace of Meat was taken over by the Israeli Meat-Tech 3D. That writes The time and is confirmed in a press release. Meat-Tech has put 15 million euros on the table for the takeover, a combination of cash and own shares. Half of the purchase price is paid immediately, the rest only after two years, when a number of “technological milestones” have been reached.
Peace of Meat was founded in 2019 and is considered a pioneer for cultured meat in our country. This is an animal-friendly and sustainable alternative to meat as no animals are slaughtered for it. Peace of Meat uses biological processes to grow fat and liver cells, especially fats from chickens and ducks. For example, they want to make foie gras from duck liver cells that have been grown in a laboratory.
Meat-Tech believes it can use Belgian technology to bring hybrid foods to market. In addition, the fats are enriched with proteins in order to optimize the taste and the meat structure. Meat-Tech expects the first of these products to hit the market in 2022. The Peace of Meat management remains on board to drive development forward.
The Israeli company, which has itself developed a method for printing meat from cells in 3D, is listed on the Nasdaq.