Key Takeaways
- Agronomics has committed US$ 10 million in Liberation Labs Holding Inc. as part of a US$ 12.5 million financing round, highlighting the growing interest in cellular agriculture.
- The investment aims to support the construction of Liberation Labs’ facility in Richmond, Indiana, poised to address the biotechnology industry’s fermentation capacity challenges.
- Liberation Labs has raised a total of US$ 33.5 million in equity-linked instruments and secured US$ 55 million in non-dilutive funding, showcasing strong financial backing for its innovative projects.
- The company’s first facility is expected to be operational in Q1 2025, with plans for significant expansion, underscoring its ambition to become a leading biofabrication partner globally.
- Agronomics’ investment reflects confidence in Liberation Labs’ potential to revolutionize the production of novel proteins for food and industrial uses.
Expanding the Frontiers of Cellular Agriculture
Agronomics (LSE:ANIC), a prominent player in the cellular agriculture investment landscape, has announced a strategic investment of US$ 10 million in Liberation Labs Holding Inc., underscoring its commitment to pioneering advancements in the field. This investment, made as part of a broader US$ 12.5 million financing round, is instrumental in advancing the construction of Liberation Labs’ biomanufacturing facility in Richmond, Indiana.
Strategic Investment for Growth
The funds were allocated through a Secured Convertible Promissory Note, a convertible debt instrument set to transform into equity upon the completion of a subsequent financing round, anticipated to raise at least US$ 37.5 million. This move not only demonstrates Agronomics’ financial support for Liberation Labs but also its belief in the company’s strategic vision and its potential to address critical bottlenecks in the biotechnology sector.
Building a Biofabrication Powerhouse
Liberation Labs is at the forefront of industrial biotechnology, aiming to become a key fabrication partner worldwide. With a focus on overcoming the limitations faced by fermentation companies, Liberation Labs is constructing Bio3, a state-of-the-art biomanufacturing platform in Richmond, Indiana. The facility, currently halfway through its construction, is expected to boast 600k litres of fermentation capacity upon completion, with prospects for expansion.
Financial Backing and Future Prospects
To date, including this recent investment, Liberation Labs has secured US$ 33.5 million through equity-linked instruments, alongside US$ 55 million in non-dilutive funding, reflecting robust financial support for its initiatives. This funding mix underscores the project’s viability and the confidence of its backers, including significant loans backed by the U.S. Department of Agriculture.
Agronomics’ Stake and Confidence in Liberation Labs
Agronomics’ investment increases its stake in Liberation Labs to 37.5% on a fully diluted basis, representing a significant portion of its Net Asset Value. This investment is a testament to Agronomics’ belief in Liberation Labs’ mission and its capabilities to become a cash-generative entity within its portfolio.
Industry and Company Outlook
Mark Warner, CEO and Co-Founder of Liberation Labs, expressed gratitude for the continued support from Agronomics and Siddhi Capital, highlighting the progress in facility construction and team expansion. Jim Mellon, Executive Chairman of Agronomics, echoed this sentiment, emphasizing the company’s confidence in Liberation Labs’ trajectory towards becoming a leading provider of novel proteins for food and industrial purposes.
Agronomics Latest News
Onego Bio Raises $40M in Series A Financing (2024/04/03)
Onego Bio, a portfolio company of Agronomics, has raised $40 million in a Series A funding round led by NordicNinja VC, with participation from existing investors and new stakeholders. This funding will help Onego Bio to commercialize egg proteins through precision fermentation. In addition, the company has received €9.5 million in non-dilutive funding from Business Finland. Onego Bio’s innovative approach aims to mitigate environmental concerns and improve conditions in animal agriculture by utilizing the Trichoderma reesei protein expression system. The funding will help the company to scale its production, optimize processes, and prepare for regulatory approval in the United States.
Announces Shiok Meats Acquisition by UMAMI Bioworks (2024/03/18)
Agronomics has acquired Shiok Meats, a portfolio company, by UMAMI Bioworks. The merger combines two pioneers in the field of cultivated seafood, aiming to leverage UMAMI Bioworks’ innovative production platform and Shiok Meats’ pioneering crustacean research for increased production capabilities. The transaction represents a strategic pivot towards enhancing the production and commercial viability of cultivated seafood, signifying Agronomics’ continued investment in sustainable food technologies.
Agronomics Announces First Commercial Sale of Cultivated Beef (2024/01/25)
Agronomics Ltd. is a pioneer in alternative proteins and cellular agriculture. It champions technologies that decouple food production from environmental and animal welfare concerns. Recently, Aleph Farms, a part of Agronomics’ portfolio, was approved for commercial sales of cultivated beef in Israel. This is a significant step towards a sustainable future in the food industry.
Agronomics and Solar Foods’ Latest Developments (2023/11/17)
Agronomics, a listed company in the cellular agriculture field, recently announced that one of its portfolio companies, Solar Foods, raised €8 million in a Series B financing round orchestrated by Springvest Oyj. This is a significant milestone for the sector, indicating a growing interest in sustainable food solutions. Since Agronomics’ initial investment, Solar Foods has achieved a tenfold increase in productivity and received regulatory approval in Singapore. The company’s strategic investment in Solar Foods reflects its commitment to nurturing sustainable and ethical alternatives to traditional animal-derived products.
Agronomics Limited Reports a 4% Increase in NAV (2023/11/06)
Agronomics Limited, a pioneer in the cellular agriculture investment sector, has announced a 4% increase in Net Asset Valuation (NAV) per share, reaching 16.48 pence as of September 30, 2023. The company’s net assets stand at £164 million, with strategic investments yielding impressive returns. Agronomics’ focus on cellular agriculture positions it at the forefront of a transformative industry committed to sustainable and innovative food production technologies.
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