("Agronomics" or the "Company")
Meatable Announces Successful
Agronomics (ANIC:LSE), the leading listed company focused on the field of cellular agriculture, is pleased to announce it has invested
Agronomics first invested
The successful funding round was led by Agronomics and New Agrarian and saw the Dutch impact fund,
The funding will be used to further scale Meatable's production processes and accelerate its commercial programme in target markets to deliver cultivated meat products that are price competitive with traditional meat. Starting in
Innovative technology to produce cultivated meat at scale
Consumer demand for meat continues to grow across the world, but this comes at a huge cost to the planet. Cultivated meat is part of the solution - a study by independent research company CE Delft found that cultivated meat can reduce the footprint of conventional beef by up to 92% for greenhouse gas emissions and 95% for land use. Investors have poured nearly
To make its cultivated pork, Meatable takes one sample of cells from an animal without harming it and replicates the natural growth process of the cells using its patented opti-ox™ technology combined with pluripotent stem cells. This technology makes it possible for Meatable to produce real muscle and fat cells in only eight days, 30 times faster than the time it takes to rear a pig for pork on the farm. Meatable has all processes in place to be able to scale cultivated meat production affordably and provide a genuine solution to this global, pressing problem.
Taking its revolutionary cultivated meat process global
To truly make an impact, cultivated meat needs to be widely available. To address this demand, Meatable is launching its first commercial products in
Meatable is also working to expand its operations into
"Meatable is one of the leading companies helping to transform the cultivated meat industry. With 80 billion animals slaughtered every year for meat and vast amounts of the Amazon rainforest already destroyed because of animal agriculture, there is a real need to find a solution that can provide meat at the scale needed to address a growing mass market. The latest funding round will allow Meatable to scale up production in
"We are thrilled to have the renewed support of our existing investors, including Agronomics, while welcoming
Since this Subscription is considered a Substantial Transaction under AIM Rule 12, this announcement requires certain disclosures under Schedule Four. Meatable is an early-stage company with no revenues with operating costs of approximately €1.6 million per month, and total assets as at
New Agrarian, the affiliate of Agronomics, has invested €6 million, on identical terms to Agronomics for 2.86%. In aggregate, Agronomics and New Agrarian will own 9.63% of Meatable on a fully diluted basis and have the right to a board seat following the close of the financing round.
About Meatable
Meatable is an innovative, Dutch food company, aiming to deliver, at scale, the new natural, cultivated meat that looks like, tastes like, and has the nutritional profile of traditional meat. Its proprietary opti-ox™ technology [is designed to enable] Meatable to produce meat rapidly, sustainably, and without harming animals. Founded in 2018 by
About Agronomics
Agronomics is the leading listed venture capital firm with a focus on cellular agriculture. The Company has established a portfolio of over 20 companies at the Pre-Seed to Series C stage in this rapidly advancing sector. It seeks to secure minority stakes in companies owning technologies with defensible intellectual property that offer new ways of producing food and materials with a focus on products historically derived from animals. These technologies are driving a major disruption in agriculture, offering solutions to improve sustainability, as well as addressing human health, animal welfare and environmental damage. This disruption will decouple supply chains from the environment and animals, as well as being fundamental to feeding the world's expanding population.
About
Invest-
About Cellular Agriculture
Cellular Agriculture is the production of agriculture products directly from cells, as opposed to raising an animal for slaughter or growing crops. This encompasses cell culture to produce cultivated meat and materials, and fermentation processes that harness a combination of molecular biology, synthetic biology, tissue engineering and biotechnology to massively simplify production methods in a sustainable manner.
Over the coming decades, the source of the world's food supply traditionally derived from conventional agriculture is going to change dramatically. We have already witnessed the first wave of this shift with the consumer adoption of plant-based alternative proteins but today, we are on the cusp of an even bigger wave of change. This is being facilitated by advances in cellular agriculture. This change is necessary, given scientists' claims that if we maintain existing animal protein consumption patterns, then we will not meet the Paris Agreement's goal of limiting warming to 1.5℃.
AT Kearney, a global consultancy firm, projects that cultivated meat's market share will reach 35% by 2040. This combined with the
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