Agronomics Limited, a leading listed company focused on cellular agriculture, has announced the exercise of warrants and the issuance of 374 Ordinary Shares at a subscription price of 30.0p per Share. The company has received gross proceeds of £112.20. The newly issued shares will be admitted to trading on AIM, with admission expected to occur on or around 18 October 2023. Following admission, the company will have a total of 993,154,244 ordinary shares with voting rights and admitted to trading on AIM.
Agronomics is a leading alternative proteins company with a focus on cellular agriculture and cultivated meat. The company has established a portfolio of over 20 companies in the rapidly advancing sector of cellular agriculture. It seeks to secure minority stakes in companies that own technologies with defensible intellectual property, offering new ways of producing food and materials historically derived from animals. These technologies aim to improve sustainability, address human health, animal welfare, and environmental damage.
Cellular agriculture is the production of agricultural products directly from cells, rather than raising animals for slaughter or growing crops. It encompasses cell culture to produce cultivated meat and materials, as well as fermentation processes that simplify production methods in a sustainable manner. The shift towards cellular agriculture is necessary to meet the goals of limiting global warming and reducing the environmental impact of animal protein consumption.
According to AT Kearney, a global consultancy firm, cultivated meat's market share is projected to reach 35% by 2040. The Good Food Institute estimates that a US $1.8 trillion investment will be required to produce just 10% of the world's protein using cellular agriculture technology. Funding in the field of cellular agriculture is accelerating, with less than US $5 billion invested worldwide since the industry's inception in 2016.
Overall, Agronomics is actively involved in the cellular agriculture sector and aims to capitalize on the growing demand for alternative proteins and sustainable food production methods.