12.04.2022

PHW Group and SuperMeat sign memorandum of understanding to launch cultivated meat in Europe

Tel Aviv/Rechterfeld, March 22, 2022. The PHW Group, one of Europe's largest poultry integration companies, and SuperMeat, the Israeli market pioneer in the field of cultivated poultry meat, have today committed in a letter of intent to start the joint introduction of cultivated meat in Europe. The PHW Group has been a shareholder of SuperMeat since 2018. Both companies will work together on Cultivated Meat's EU approval, consumer research and future sales opportunities. The basis is the SuperMeat technology platform. The expansion of the partnership is another step taken by the PHW Group to consistently promote alternative ways of protein production.

"We are honored to extend our longstanding partnership with the PHW Group," said SuperMeat CEO Ido Savir. "The PHW Group has repeatedly demonstrated its commitment to promoting cultivated meat. The agreement signed today and the joint development of a sustainable, regional and efficient value chain is an elementary part of our corporate strategy. We look forward to working together with PHW Group to introduce safe and convincingly tasting foods in Europe in the medium-term".

The PHW Group is a leading poultry processor in Europe and at the same time an established player in the alternative protein business. The PHW Group is the only company in the meat industry that is one of the 50 Sustainability & Climate Leaders worldwide. The ongoing commitment to alternative high-quality protein sources is part of the consistent efforts to supplement the own product portfolio, in addition to poultry, with other sustainable alternatives and thus to constantly develop the nutritional mix of the future.

According to a recent report by consulting firm McKinsey & Company, the cultured meat industry could account for up to 0.5% of the world's meat supply by 2030, representing a $25 billion market. Scaling production requires a consistent supply of raw materials, streamlining production processes, and building a robust distribution network. Cooperation between the two companies in Europe creates short-term synergies in supporting the European food law approval process for cultivated meat and in the medium term in the area of product marketing via existing sales channels.

"Our vision is a sustainable and balanced diet for today's and tomorrow's society. For this reason, we are extensively involved in the field of alternative proteins. Within this segment, SuperMeat is an innovative component of our protein platform strategy and an excellent partner in food -Tech sector. The endeavor to establish cultured meat on the European market together with SuperMeat will also support the EU initiative Green Deal. We look forward to embarking on this journey together with SuperMeat in Europe", explained Peter Wesjohann, CEO of the PHW Group. For more information about SuperMeat, visit Supermeat.com.

About PHW

The PHW Group, headquartered in Rechterfeld (Lower Saxony), is active in the business areas of poultry, alternative proteins and health. In the area of production and marketing of high-quality poultry specialties, the vertically integrated group of companies is a leader in Europe, also in the area of alternative animal welfare concepts. In addition, it sets the course for a diverse diet and positions itself as a supplier of high-quality and sustainable protein products. Through the consistent further development of the "Alternative Protein Sources" area, the food company is shaping the nutritional mix of the future. The PHW Group, which consists of more than 35 subsidiaries, employs a total of 8,900 people across Europe (number of employees according to HGB in the 2020/2021 financial year). In the past fiscal year, the group generated sales of around EUR 2.768 billion.

About SuperMeat

Headquartered in Tel Aviv, Israel, SuperMeat is a food tech company working to provide the world with quality meat grown directly from animal cells. Our products offer a tasty meat experience and a high-quality nutritional profile, while being produced in a sustainable, slaughter-free manner. The cultured meat platform developed by SuperMeat enables food companies to be at the forefront of innovative technology and produce a wide range of products containing cultured meat. SuperMeat is the first B2B company to cover the entire poultry meat category from fat to lean and offer a total solution for cultured meat production. The Company has showcased the versatility of its meat platform at various events at its pilot production facility, The Chicken, the world's first farm-to-fork facility dedicated to local meat production, and plans to host more events in the near future.