Agronomics Limited, a leading listed company focused on cellular agriculture, has announced the exercise of warrants, resulting in the issuance of 42 Ordinary Shares. The subscription price for each share is 30.0p, with gross proceeds of £12.60. The company has applied for the 42 shares to be admitted to trading on AIM, with the admission expected to occur on or around 17 April 2024. Following this, the company will have 1,009,409,792 ordinary shares in issue with voting rights and admitted to trading on AIM.
Agronomics is a London-listed company that focuses on investment opportunities within the field of cellular agriculture. The company has established a portfolio of over 20 companies in this rapidly advancing sector. It seeks to invest in companies owning technologies with defensible intellectual property that offer new ways of producing food and materials, 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.
Cellular Agriculture, the production of agriculture products directly from cells, is a key focus for Agronomics. This includes 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 simplify production methods in a sustainable manner. The company believes that the source of the world's food supply traditionally derived from conventional agriculture is going to change dramatically over the coming decades.
Agronomics highlights that advances in cellular agriculture are facilitating a significant shift in the food industry. It is necessary given the need to meet environmental goals, such as 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 Good Food Institute's estimate that a US $1.8 trillion investment will be required to produce just 10% of the world's protein using this technology, indicates a significant flow of capital to build out manufacturing facilities in the coming decades.