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• Pluri to leverage its proprietary 3D technology platform to develop cell-based products for the coffee industry under its new business vertical PluriAgtech
  
• The rapidly growing $130 billion coffee industry is at risk as global warming reduces the availability of viable land for coffee cultivation by up to 50% by 2050
• Compared to traditional methods of coffee production, Pluri's cell-based coffee is estimated to reduce carbon footprint by slashing water usage by 98% and reducing growing areas by 95% (thus preventing deforestation)
  

HAIFA, Israel, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Pluri Inc. (Nasdaq: PLUR) (TASE: PLUR) ("Pluri" or the "Company"), a leading biotech company that transforms cells into solutions that promote global well-being and sustainability, announced today that it has launched its cell-based coffee business activity, an innovative product that will potentially revolutionize the traditional coffee industry. Pluri's cell-based coffee product is designed to address the growing global demand for sustainable, high-quality coffee at mass scale production.

Pluri is pioneering plant cell-based, industrial scale manufacturing solutions for the coffee industry, leveraging its 3D cell expansion technology to create high quality coffee under the Company's new business vertical, PluriAgtech. PluriAgtech aims to forge a brighter, greener future for agriculture by using breakthrough cell technology to create more eco-friendly alternatives to traditional farming methods.

Cells made into ground coffee

Pluri's Cell-based coffee

PluriAgtech's cell-based coffee has been developed to deliver authentic coffee while solving key challenges faced by the industry. Compared to traditional methods of coffee production, Pluri's cell-based coffee is estimated to slash water usage by 98%. This innovation promises to confront the reduction of suitable growing areas that are expected to decline by up to 50% by 2050; reduce price instability in a traditional commodity market; and minimize the environmental impact of coffee production, as current production methods have a high carbon footprint and upcoming regulations are expected to further strain producers. While coffee production challenges persist, world demand for coffee is expected to triple by 2050.

Pluri's goal is to spin out its cell-based coffee as a new subsidiary focused on developing innovative products, technologies and intellectual property for the coffee industry. This new planned subsidiary will be led by Michal Ogolnik, a dynamic, results-driven business leader. She has over 20 years of executive management experience in the pharma and energy sectors.

"We are uniquely positioned to transform the coffee industry with our sustainable cell-based coffee," said Michal Ogolnik. "By harnessing the power of Pluri's cutting-edge technology, we could create a brighter, more sustainable future for our planet. By bringing innovation to the forefront, we can tackle some of the coffee industry's most pressing challenges."

"We believe deeply in the power of cell technology to make farming and food cultivation more productive and sustainable. Pluri's advanced agtech solutions potentially reduce the environmental footprint of traditional agricultural production. PluriAgtech can deliver numerous solutions ranging from products like cell-based coffee to bioactive in order to address the biggest challenges in agriculture," said Pluri CEO and President Yaky Yanay. "We see great interest in the development of additional cell-based products under the PluriAgtech vertical from potential partners. We are excited about the opportunities presented by cell-based coffee."

To learn more about Pluri's cell-based coffee visit our website.

About Pluri Inc.

Pluri is pushing the boundaries of science and engineering to create cell-based products for commercial use and is pioneering a biotech revolution that promotes global well-being and sustainability. The Company's technology platform, a patented and validated state-of-the-art 3D cell expansion system, advances novel cell-based solutions for a range of challenges— from medicine and climate change to food scarcity, animal cruelty and beyond. Pluri's method is uniquely accurate, scalable, cost-effective and consistent from batch to batch. Pluri currently operates in the field of regenerative medicine, food-tech, agtech and biologics and offers CDMO services. Pluri establishes partnerships that leverage the Company's proprietary 3D cell-based technology across various industries that require effective, mass cell production. To learn more, visit us at www.pluri-biotech.com or follow Pluri on LinkedIn and X (formerly known as Twitter).

Safe Harbor Statement

This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. For example, Pluri uses forward-looking statements when it discusses the intended use of its proprietary 3D technology platform to develop cell-based products for the coffee industry under its new business vertical PluriAgtech; the growth of the coffee industry; the potential benefits of PluriAgtech and its potential to address issues in the coffee market, as well as the environment; its belief that its cell-based coffee product will revolutionize the traditional coffee industry and address the growing global demand for sustainable, high-quality coffee at mass scale production; the aim of PluriAgtech to forge a brighter, greener future for agriculture by using breakthrough cell technology to create more eco-friendly alternatives to traditional farming methods; Pluri's goal to spin out its cell-based coffee as a new subsidiary focused on developing innovative products, technologies and IP for the coffee industry; that its technology could create a brighter, more sustainable future for the planet; its collaborations with current and potential strategic partners; its aim to develop cutting-edge products and technology; and its ability to address the biggest challenges in agriculture. These forward-looking statements and their implications are based on the current expectations of the management of Pluri only and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements about Pluri: changes in technology and market requirements; Pluri may encounter delays or obstacles in launching and/or successfully completing its proposed plans, including research and developmentry; its products may not be approved by regulatory agencies; its technology may not be validated as it progresses further and its methods may not be accepted; it may be unable to retain or attract key employees whose knowledge is essential to the development of its products; unforeseen scientific difficulties may develop with its processes; its products may wind up being more expensive than it anticipates; results in the laboratory may not translate to equally good results in real world settings; its patents may not be sufficient; its products may harm recipients or consumers; changes in legislation with an adverse impact; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of Pluri to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Pluri undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting Pluri, reference is made to Pluri's reports filed from time to time with the Securities and Exchange Commission.

Media Contacts

Investors: investor.relations@pluri-biotech.com
Israel Media: Shachar Yental at shacharye@gitam.co.il

U.S. Media: Brianna Ziegler at brianna@miller-ink.com

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/31fa6b78-6ee7-444a-afe1-57f03f39c325

https://www.globenewswire.com/NewsRoom/AttachmentNg/e826ee11-8077-4840-8ef8-428e9cb724c4

Cells made into ground coffee

Cells made into ground coffee

Pluri's Cell-based coffee

Pluri's Cell-based coffee