TLDR:
Key Points:
- Agronomics’ Clean Food Group secures GBP2.5 million in funding from Clean Growth Fund Management LLP to commercialize its technology.
- The funds will be used to speed up the commercialization of Clean Food’s sustainable oils and fats technology.
In a recent article by MarketScreener, Agronomics Ltd announced that its portfolio company, Clean Food Group Ltd, has secured GBP2.5 million in funding from Clean Growth Fund Management LLP to further develop its technology in the cellular agriculture field. The funds will be used to accelerate the commercialization of Clean Food’s sustainable oils and fats technology, with the firm’s go-to-market product being an alternative to high oleic palm oil. Agronomics has already invested GBP1.6 million into Clean Food and holds an equity ownership of 27%. Executive Chair Jim Mellon expressed his excitement about the investment, highlighting the progress Clean Food Group has made in recent years and the environmental benefits of precision fermentation-derived fats and oils. The funding and partnership with Clean Growth Fund signal a validation of Clean Food’s technology and its potential impact on addressing ethical and environmental challenges in the food industry.
Despite the news, Agronomics shares were trading 0.4% higher at 8.68 pence each in London on Tuesday afternoon. The company continues to focus on investing in companies with technologies that offer sustainable solutions and address various challenges in the food industry. Overall, this funding boost for Clean Food Group represents a significant step forward in the development and commercialization of innovative and sustainable food technologies.
