24 September 2024
Agronomics Ltd
("Agronomics" or the "Company")
Meatable awarded €7.6 million Innovation Credit
Agronomics, a leading listed company in the field of cellular agriculture, is pleased to announce that its portfolio company, Meatable B.V. ("Meatable"), has secured
The programme is intended for the development of innovative development projects that are proven to have a good degree of technical feasibility and excellent market prospects. The funding is in the form of milestone linked credit payments that are spread out across the period and will be repaid following the completion of the project. Meatable will use the credit to further improve productivity and reduce costs in the lead-up to commercialisation.
Meatable has rapidly emerged as a frontrunner in the field of cultured meat, having raised approximately
Agronomics Co-Founder and Executive Chair Jim Mellon commented:
"The new funding awarded to Meatable is a testament to its innovative approach and the immense potential of cultured meat. As global meat consumption continues to rise, traditional livestock production methods are facing increasing pressure to meet demand while mitigating environmental impacts. Meatable's innovative approach offers a promising solution by producing meat without the need for animal slaughter, thereby reducing carbon emissions, water consumption, and land use. We are excited to see Meatable enter the next stage of growth as it achieves regulatory approval and commercialises its products."
The full announcement is set out below without any material changes:
September 2024 - Meatable has been awarded
Demand for meat continues to grow rapidly. Already, as many as 828 million people - or 10% of the world's population - go to bed hungry each night. To keep up with this demand, the required supply increases under current livestock production methods will have further devastating impact on the environment and society. Cultivated meat is set to be part of the solution - one single sample of cells has the potential to feed the world, without any of the environmental or societal drawbacks.
Meatable has developed a unique technology platform to produce cultivated meat and will work as a partner to the meat industry to roll out products at scale. The Innovation Credit comes on top of Meatable's 2023
The Netherlands Enterprise Agency helps entrepreneurs and organisations to invest, develop and expand their businesses and projects, both in
For further information please contact:
Agronomics Limited |
Beaumont Cornish Limited |
Canaccord Genuity Limited |
Cavendish Capital Markets Limited |
Peterhouse Capital Limited |
SEC Newgate |
The Company |
Nomad |
Joint Broker |
Joint Broker |
Joint Broker |
Public Relations |
Jim Mellon Denham Eke |
Roland Cornish James Biddle |
Andrew Potts Harry Pardoe Alex Aylen (Head of Equities) |
Giles Balleny Michael Johnson Charlie Combe |
Lucy Williams Charles Goodfellow |
Bob Huxford Anthony Hughes |
+44 (0) 1624 639396 info@agronomics.im |
+44 (0) 207 628 3396 |
+44 (0) 207 523 8000 |
+44 (0) 207 397 8900 |
+44 (0) 207 469 0936 |
agronomics@secnewgate.co.uk |
Nominated Adviser
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
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