Moolec Science has entered a new business agreement that will see it become the first molecular farming foodtech to be listed on Nasdaq. The foodtech ingredient pioneer is aiming to become a category creator in the alternative protein landscape and has entered a definitive business combination agreement with LightJump Acquisition Corp, a special purpose acquisition company.
UK-based Moolec focuses on developing real animal proteins in plants using molecular farming; a scalable, affordable, and sustainable technology which is the production of animal proteins using plants as small factories. The transaction sets Moolec’s proforma equity value at $504 million and upon closing the combined company is expected to be listed on Nasdaq under the ticker symbol “MLEC”.
Targeting the rapidly expanding alt protein sector, Moolec claims its product portfolio and pipeline leverage the agronomic efficiency of broadly used target crops, like soybeans and peas. The company claims its molecular farming system is more cost efficient as, by using plants as small factories for the production of animal proteins, economies of scale can be achieved through high productivity volume production and traditional farming practices.
Real animal proteins, from plants
Moolec states its international patent portfolio is growing, with its first two products – plant-based dairy ingredient chymosin and nutritional oil GLA, both using safflower as a carrier crop – achieving regulatory clearance. The company claims seed inventory scale-up activities were conducted this year, accelerating the development of soy and pea-based products designed to replace meat.
“Moolec Science is a category creator in the alternative protein landscape. Our Molecular Farming technology focuses on providing real animal proteins without using any animals, based on the genetic engineering of seeds to produce proteins the same way animals do,” explained Gastón Paladini, Chief Executive Officer and Co-Founder. “Moolec’s goal is to use science in food to overcome current global food security issues, building a more sustainable, resilient, and equitable food system.”