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Agronomics Ltd - Isle of Man-based venture capital investor in alternative proteins, focused on cellular agriculture and cultivated meat - Invests A$2.5 million, or £1.3 million, in HydGene Renewables Pty Ltd as part of the latter’s A$6 million seed financing round. HydGene is a North Parramatta, Australia-based developer of synthetic biology to engineer microorganisms for use in hydrogen production. The subscription was paid using cash from the company’s own resources and will result in Agronomics holding a 13% stake in HydGene. Agronomics Executive Director Jim Mellon says: ‘HydGene’s unique decentralised solution aims to accelerate the cost-effective adoption of low carbon technology across the fuel sector, and we are excited to see the substantial impact this could have on the global transition to hydrogen fuel.’ Current stock price: 10.75 pence 12-month change: down 41% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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