Clean Food Group, an investee company of Agronomics Limited, has been awarded £1 million in funding by the UK government to accelerate the commercialization of sustainable palm oil through precision fermentation. The funding, provided by Innovate UK and the Biotechnology and Biological Sciences Research Council, aims to support the development of novel low-emission food production systems. Clean Food Group's proprietary technology platform utilizes yeast strains and fermentation to convert food waste into sustainable alternatives to traditional oil and fat ingredients. The company will collaborate with the University of Bath for an 18-month project to further advance its research capabilities. Agronomics has invested a total of £900,500 in Clean Food Group, representing approximately 4% of its net asset value.

Agronomics Limited has announced that its portfolio company, Clean Food Group Ltd, has been awarded £1 million in funding by the UK government to accelerate the development of novel low-emission food production systems. The funding, awarded by Innovate UK and the Biotechnology and Biological Sciences Research Council, will be used to support Clean Food Group's commercialization of fermentation-derived oils and fats that can be used as ingredients in food and cosmetics. Clean Food Group's proprietary technology platform converts food waste into sustainable alternatives to traditional oil and fat ingredients using yeast strains and fermentation technology. The company will collaborate with the University of Bath for the 18-month project.

Agronomics has invested a total of £900,500 into Clean Food Group, which is carried at £6.27 million, including an unrealized gain on cost of £5.37 million. This investment represents approximately 4% of Agronomics' last published Net Asset Value. Agronomics holds an equity ownership of 30.59% on a fully diluted basis in Clean Food Group.

Clean Food Group Co-founder and CFO, Tom Ellen, expressed delight at being granted the funding, stating that it validates their technology platform and commercialization strategy. He added that the funding will help them scale their manufacturing capabilities and achieve necessary regulatory approval for their products. Jim Mellon, Executive Director of Agronomics and Director of Clean Food Group, praised Clean Food Group's technology and highlighted its potential to play a fundamental role in the global transition to sustainable food production.

Clean Food Group is a UK-based food-tech business that delivers sustainable oils and fats solutions to food and cosmetics manufacturers. The company aims to provide scalable, healthier, and competitively priced ingredients that have a positive impact on the economic, environmental, and social health of the planet. Clean Food Group's proprietary technology platform has been developed over 8 years of pioneering research by Professor Chris Chuck, technical lead at Clean Food Group and the University of Bath.

Agronomics is a leading listed company focused on cellular agriculture and cultivated meat. The company has a portfolio of over 20 companies in the sector and seeks to invest in companies with defensible intellectual property that offer new ways of producing food and materials. Agronomics aims to improve sustainability, address human health, animal welfare, and environmental damage through disruptive technologies in agriculture.