MeaTech 3D collaborates with Singapore-based, Umami Meats

• MeaTech 3D (NASDAQ:MITC) signed a memorandum of understanding with Singapore-based Umami Meats for the joint development of 3D-printed cultured structured seafood thereby foraying into the Asian market.
• Umami Meats is a cultured seafood company with a focus on developing species that are expected to experience severe supply-side shortages in the coming years due to climate change, overfishing and continuously growing consumer demand.
• The agreement is part of MeaTech's strategy of collaboration with other players in the alternative protein space and takes advantage of the company's flexibility in its technological and biological capabilities to develop and print a wide variety of species.
• Global seafood market was estimated to be worth $110.2B by 2022 and is growing at a CAGR of 3.6%.

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