Agronomics, a leading investor in cultivated meat and alternative protein, based in the UK’s Isle of Man, announces a $5 million subscription with cellular aquaculture specialist BlueNalu, stating it will be paid using cash from its own resources.
The company stated in January its intentions to make strategic investments in order to disrupt the global meat industry. Non-Executive Director Jim Mellon has been granted the right to attend the Board Meetings of BlueNalu as an observer. He noted: “Agronomics is delighted to be continuing its support for BlueNalu in their work on providing a sustainable solution to meeting the world’s seafood demand. We are optimistic that advances by BlueNalu will be able to make a real difference in combating some of the current issues with the fishing and aquaculture industry.”
BlueNalu began its operations in 2018 and now has a strong team of 31 employees. Since Agronomics’ participation in BlueNalu’s Series A financing, BlueNalu has established a 40,000 sq. ft. facility for the purposes of commercialisation and development.
Lou Cooperhouse, co-founder, CEO and president of BlueNalu, added: “We are extremely thankful to the team at Agronomics for their continued support, and we are pleased to welcome Jim Mellon as an observer to our Board of Directors. Agronomics has participated in each of our financing rounds thus far, and has a keen understanding regarding the role that cell-based seafood can play in the global supply chain.”