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Liberation Labs, planned precision fermentation manufacturing facility now under construction,

© Liberation Labs
Investments & Finance

Liberation Labs to Advance Precision Fermentation Facility with $3.5M Fundraise

US biomanufacturing company Liberation Labs has raised $3.5 million via a Secured Promissory Note (“Note”), including a $2.0 million subscription from the VC firm Agronomics Limited (LSE: ANIC). With this note, Agronomics’ total investment in the precision fermentation company amounts to $19.6 million, holding 37.5% on a fully diluted basis. Other participants in the fundraising, each contributing $0.5 million, include New Agrarian Company Limited (an affiliate of Agronomics), Galloway Limited, and Jim Mellon in his personal capacity. The Note, a form of convertible debt, will finance the construction of Liberation Labs’ first facility in Richmond, Indiana, before an intended $37.5 million Series A (“Qualified Financing”) round. The plant is scheduled to be operational in Q1 2025, offering a fermentation capacity of 600,000 L. For more …

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Future of Foods Podcast

© Future of Foods Podcast
Investments & Finance

Future of Foods Podcast: Anthony Chow, Co-Founder of Agronomics on Funding the Cellular Agriculture (r)Evolution

Alex Crisp, host of Future of Foods Interviews, speaks to Anthony Chow, co-founder of Agronomics, about the future of cellular agriculture and the negative press surrounding the cultivated meat and plant-based industries. He also discusses the challenges faced by plant-based products, particularly regarding their pricing, health concerns, and the need for innovation to attract conventional meat consumers. Agronomics is a leading UK listed investment company with a portfolio of more than 20 companies operating in cellular agriculture, precision fermentation and biotechnology. Here is a clip from the podcast: Display “Future of cellular agriculture with Anthony Chow – Agronomics” from YouTube Click here to display content from YouTube. Learn more in YouTube’s privacy policy. Always display content from YouTube Open “Future of cellular agriculture with Anthony Chow …

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liberation labs precision fermentation plant

© Liberation Labs
Cultivated, Cell-Cultured & Biotechnology

Agronomics Invests $10M in Liberation Labs to Advance its 600,000 L Precision Fermentation Facility

Agronomics Limited (LSE: ANIC), the UK’s leading VC company focused on cellular agriculture and biomanufacturing, has invested $10 million in its portfolio company, Liberation Labs Holdings, a US biotechnology firm focused on large-scale precision fermentation manufacturing. The investment was part of a $12.5 million financing round, which was made through a Secured Convertible Promissory Note (SCPN) using Agronomics’ existing cash resources. Previous investor Siddhi Capital also joined the round to help fund the ongoing construction of Liberation Labs’s facility in Richmond, Indiana. Agronomics has invested $17.6 million in Liberation Labs, including $7 million to join the CDMO company on its mission to propel fermented proteins and other bio-based solutions. According to the announcement, Agronomics now holds a 37.5% stake in Liberation Labs. Jim Mellon, Executive …

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Liberation Labs facility indiana

© Liberation Labs
Investments & Finance

Agronomics Secures $25M USDA Backing for Liberation Labs Biomanufacturing Facility

The United States Department of Agriculture (USDA) has granted a $25 million loan guarantee to support Agronomics, a leading cellular agriculture and cultivated meat investment firm, in the completion of a large-scale biomanufacturing facility in Indiana.  Allocated for the finalization of Liberation Labs’ 600,000-liter bio-protein facility, the funding will support a resolution to the industry’s fermentation production capacity deficit. With commercial production scheduled to begin Q1 2025, the facility aims to efficiently produce novel proteins, including those that replicate the characteristics of egg and dairy proteins. Executive Director of Agronomics, Jim Mellon, expressed optimism about Liberation Labs’ cutting-edge fermentation infrastructure, stating, “Liberation Labs is developing state-of-the-art purpose-built fermentation infrastructure which will transform the existing fermentation capacity and help build a future in which precision fermentation …

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Anthony Chow, co-founder of Agronomics

Anthony Chow, © Agronomics
Interviews

Agronomics: “Cell Ag is One of the Only Technologies With the Potential to Decarbonize the World’s Protein Production”

London-based Biotech VC Agronomics boasts an impressive portfolio of venture-stage companies, primarily in the field of cellular agriculture, most of which will be well known to vegconomist, such as Rebellyous Foods (plant-based chicken); Formo (animal-free dairy); Every (egg alternatives); BlueNalu (cultivated seafood); Mosa Meat (cultivated meat); and Liberation Labs (precision fermentation), amongst many more. Co-founder Anthony Chow kindly took the time to chat with us about the current and future positioning of the cellular agriculture space, offering some unique and extremely valuable insights. Please introduce Agronomics, what does the company stand for? Agronomics is the leading listed company, listed on the London Stock Exchange, focused on the field of cellular agriculture and the production of agricultural products directly from cell cultures that have historically been derived …

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rebellyous foods plant based chicken range

© Rebellyous Foods

Investments & Finance

Rebellyous Foods Raises $9.5M for Plant-Based Chicken’s “Next-Gen Meat Machine”

Rebellyous Foods, the Seattle startup working to make plant-based chicken affordable, has announced a $9.5 million equity round to build its novel production technology. Founded in late 2017 by former aerospace engineer Christie Lagally, Rebellyous focuses on making plant-based meat better, faster, and cheaper through tech-backed solutions. “Next-gen meat machine” “During a tough economic slump, we are thrilled by this testament to investors’ belief in Rebellyous and price parity as a solution to sustained growth of plant-based meat in the marketplace,” said Lagally, who is also the company’s CEO. Rebellyous will use the significant investment to deploy its breakthrough equipment and build its Mock 2 — “next-gen meat machine”— capable of producing 10K lbs per hour, with one production line controlled by one person to bring …

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liberation labs precision fermentation plant

© Liberation Labs
Manufacturing & Technology

Liberation Labs to Develop “First Purpose-Built” Precision Fermentation Plant in the US

Liberation Labs Holdings, a large-scale precision fermentation contract manufacturer, announces it has acquired the land to develop its first commercial-scale biomanufacturing facility in the Midwest Industrial Park in Richmond, Indiana. The precision fermentation manufacturer expects to invest $115 million in the facility and plans to create an estimated 45 well-paying manufacturing jobs. According to Liberation Labs, it will be the first purpose-built commercial precision fermentation plant in the United States. The new facility will have a fermentation capacity of 600,000 liters with a fully dedicated downstream process (DSP), allowing the company to manufacture bio-based consumer products at a lower cost for the US market instead of relying on Europe’s production. Manufacturing precision fermentation proteins The company closed on a $20 million seed round of funding …

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Liberation Labs co-founder and CEO Mark Warner. © Liberation Labs
Investments & Acquisitions

Agronomics Invests $7M in Precision Fermentation Manufacturer Liberation Labs

Agronomics has invested $3.5 million in the seed round of Liberation Labs, a company working to commercialise precision fermentation on a large scale. The venture capital firm previously invested $3.5 million in the funding round’s first tranche in October, meaning it has now contributed a total of $7 million to the $20 million raise. Additionally, Agronomics made a $627,000 investment as part of Liberation’s previous funding round in June. Precision fermentation manufacturing facilities There is currently a bottleneck in the food fermentation industry, caused by a lack of suitable production plants. As Liberation CEO Mark Warner told Elysabeth Alfano on The Plantbased Business Hour, many of the sites currently available are actually intended for the pharmaceutical industry. The company is working to change that by …

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cultivated milk

© AllGFoods
Cultivated, Cell-Cultured & Biotechnology

All G Foods Raises $25M to Make Cultivated Milk “Cheaper to Buy Than Cow-Based Dairy”

Australian startup All G Foods just raised $25 million from Agronomics to accelerate the manufacture of its milk substitute and undercut the prices of conventional milk sold on the market. The $25 million investment, of which $15 million has been contributed by cellular agriculture investment firm Agronomics through a UK-listed corporation and another $10 million through a linked investment vehicle, is claimed to be the first component of a broader announcement that will be made in the coming months. All G Foods previously received venture capital from Australia’s retail giant Woolworths Group, and also operates the plant-based meat brand Love BUDS, available in over 300 retail locations and hundreds of foodservice outlets. Preparation for commercialisation The team behind the cultivated milk startup claims to have …

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the fruit of the palm oil used for palm oil production

© Clean Food Group
Cultivated, Cell-Cultured & Biotechnology

Cultivated Palm Oil Has Potential to Reduce Dependency on Controversial Palm Oil Industry

Clean Food Group, a company developing cultivated palm oil alternatives made from yeast, is currently preparing for the commercialisation of its Clean Palm Oil planned for 2023 aiming to reduce dependency on the controversial palm industry. The development process began at the University of Bath, where Christopher Chuck, Professor of Bioprocess Engineering, has been working on a project using “unique fermentation processes to develop a palm oil substitute from lignocellulosic waste.” In Q1 2022, the relevant intellectual property gained during the project was acquired by Clean Food Group, a food ingredients startup for which Prof Chuck is Group Technical Advisor. Back in 2021, UK cellular agriculture investment group Agronomics announced its plans to make investments into new “category leaders in both cell culture and fermentation …

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©Gucci
Leather Alternatives

VitroLabs Cultivated Leather Raises $46M from Fashion Giant Kering & Leonardo DiCaprio 

Luxury giant Kering has backed VitroLabs, a San Francisco startup developing cell-cultivated leather. The French fashion company, whose brands include Gucci and Saint Laurent, has participated in a $46 million funding round to accelerate VitroLabs’ commercialization. The Series A funding was led by Agronomics, the UK cellular agriculture investment group headed by billionaire philanthropist Jim Mellon, and also received funding from environmentalist Leonardo DiCaprio amongst others. VitroLabs is a Bay-Area-based biotech company leading the development of a new scientific process to grow what it claims is the world’s first cellular cultivated animal leather. The funds will be used to accelerate commercialization for the biotech startup, including the building and scaling of pilot production. Global luxury group Kering, with assets of over €27 billion, will continue …

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Dog puppy food

© Gorilla - stock.adobe.com
Cultivated, Cell-Cultured & Biotechnology

Agronomics Reveals Cultivated Meat Pet Food Venture Good Dog Food

Agronomics, the UK cellular agriculture investment group headed by billionaire philanthropist Jim Mellon, has partnered with Roslin Technologies, made famous for the world’s first cloned adult mammal Dolly the sheep, to launch Good Dog Food. Says Jim Mellon, Executive Director of Agronomics and Chairman of Good Dog Food: “An untapped sector of the agricultural market is the production of pet food via cellular agriculture. We are delighted to be able to announce our first joint venture in the cultivated meat field, to focus on the production of cultivated pet food.” Good Dog Food will develop a novel range of pet food products made using cell-cultured meat, highlighting that the current production of companion animal food is a major driver of climate change. In the US …

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Onego Bio Ltd team

Christopher Landowski, Maija Itkonen and Jussi Joensuu ©Onego Bio Ltd
Egg Alternatives

Finland’s Onego Bio Raises €10M Seed Funding for Vegan Egg White Biotech 

Onego Bio Ltd has raised €10 million in seed funding to commercialize its breakthrough technology to produce egg white without chickens. The cellular agriculture startup is the latest spin-off from the VTT Technical Research Centre of Finland and offers a vegan alternative to one of the world’s most used animal proteins. “They have the potential to produce bioalbumen at an industrial scale and at a price point that is competitive with conventional egg production” – Jim Mellon, Agronomics  The Finnish biotech Onego Bio has developed bioalbumen – an animal-free egg protein, using commercially proven Trichoderma technology. The vegan egg white is produced with a specific precision fermentation process that creates identical egg white protein without the need for animals. The startup announces the successful closure of …

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Agronomics

©Agronomics
Investments & Finance

Agronomics Plans Additional £25M Raise For Its Impressive Cellular Agriculture & Cultivated Meat Portfolio

Agronomics plans additional £25M raise for its fast-expanding portfolio of cell ag and cultivated meat companies, is in “advanced discussions” to make investments of up to US$52 million in six new and existing companies  Agronomics, the leading British VC firm focused on cellular agriculture and cultivated meat, announces it is proposing a £25m raise through the placing of shares, to further invest in its portfolio companies in the sector. The company’s co-founder is Jim Mellon, investor and writer of the book Moo’s Law. Increasingly prolific in the field over the past two years, Agronomics declared in January 2020 that that further to its investments in LegendDairy Foods, Meatable, Oritain and BlueNalu, it had completed a fundraise of £5.5 million. In April of 2020, the company …

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©California Cultured
Cultivated, Cell-Cultured & Biotechnology

$4M Invested in California Cultured’s Cell-Cultured Chocolate to Solve Deforestation and Child Labor in Cocoa

Agronomics has led a Seed Funding Round for California Cultured, a food-tech company based in Davis, California, which utilises cell culture technology to produce cocoa products like cocoa powder, chocolate, cocoa butter and flavanols in order to circumvent the serious issues arising from cocoa production such as deforestation and child slave labor. California Cultured was founded by cell-culture technology veterans Alan Perlstein and Harrison Yoon, as a way to address the need for more ethical and environmentally friendly methods of chocolate production. The company says, “We select cacao varieties with the best organoleptic properties, take a handful of cells and keep them growing infinitely. We do this by equipping the cells with a proper set of plant nutrients which allows for rapid growth. We harvest …

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© Agronomics
Investments & Finance

Environmentally Friendly Investment Firm Agronomics Raises £50M for Cultured Meat

Further to the recent study which found that 40% of future meat intake is likely to come from cell cultivated meat; Agronomics Limited (AIM:ANIC), a leading listed investor in the cellular agriculture sector with a focus on cultured meat and related alternative proteins, announces a conditional subscription and conditional placing to raise at least £50 million (before expenses).

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