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Agronomics Ltd - Isle of Man, UK-based cellular agriculture company - Leads founder's round of Liberation Labs Holdings Inc through an initial investment of $627,000 for a 47% equity stake.
Notes Liberation Labs focuses on fermentation capacity, with purpose-built production facilities for industrial biotechnology.
‘The shortage of fermentation capacity for cellular agriculture is reaching its tipping point - companies that are making alternative proteins have scarce resources to produce at the scale, quality and cost needed to meet consumer demands,’ Agronomics explains. ‘Many of the facilities currently in use are over 40 years old, and do not have the modern downstream equipment to drive quality, yield, and production efficiency needed to compete in a global marketplace. Liberation Labs is currently evaluating 6 geographies to locate its first fit-for-purpose facility which, once built, will have a total fermentation capacity in the millions of litres.’
Adds the investment will be made using funds from the company's own resources.
Current stock price: 17.38 pence, down 1.8% on Monday
12-month change: down 25%
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