LONDON, UK: Agronomics Limited, the leading listed alternative proteins company focused on cellular agriculture and cultivated meat, announced the disposal of its total holding of 40,000 shares in Oritain Global Limited for NZ$ 1.36 million (approximately £0.7 million), representing an IRR of 74%.
Agronomics invested in Oritain in December 2019. The proceeds will be used to provide further funding for opportunities within the field of cellular agriculture, inclusive of supporting existing companies, as well as identifying new opportunities.
Funding in the cultivated meat sector is growing rapidly with approximately US$ 170 million invested worldwide between 2016-2019 and over US$ 270 million raised in 2020 alone. Additional financings are anticipated as the capital requirements of these companies grows to build out and scale up manufacturing facilities.
Currently it is estimated that there are 60 companies globally within the sector. AT Kearney, a global consultancy, has predicted that Cultivated Meat’s market share of meat consumption will be 35% by 2040.
Agronomics is a leading listed alternative proteins company with a focus on cellular agriculture and cultivated meat. The Company has established a portfolio of 16 companies at the Seed to Series B 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. www.agronomics.im
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29 Sep, 8:04 am GMT+1 ·Disclaimer