TIDMANIC
Agronomics Limited
22 June 2023
22 June 2023
Agronomics Limited
("Agronomics" or the "Company")
Good Dog Food raises investment from Pets at Home
Agronomics (ANIC:LSE), the leading listed company focused on the
field of cellular agriculture, is pleased to announce that its
portfolio company Good Dog Food Limited ("GDF") will partner with
the UK's leading pet retailer, Pets at Home, to help transform the
industry by using cultivated meat to create dog food that is
sustainable, nutritious, cruelty and antibiotic-free.
Pets at Home contributed to Good Dog Food's GBP3.6 million seed
round alongside Agronomics GBP1 million investment, as announced on
4 May 2023. Other notable investors included Siddhi Capital, a
prominent and highly respected investor in innovative food products
and technologies, together with a number of private individuals
including Jim Mellon, Chairman of GDF and Executive Director at
Agronomics.
GDF aims to transform the pet food industry with cultivated
meat. By partnering with Pets at Home, the Company will utilise the
retailer's expertise and industry-leading knowledge of the pet food
sector as it develops a cultivated meat alternative that will be
sustainable, nutritious, cruelty and antibiotic-free. As the UK's
leading retailer of pet food products, the Company will work with
GDF to help to launch and scale up the distribution of its
sustainable and ethical products to a growing UK and global
audience once available.
Meat provides essential nutrients for companion animals,
however, when produced from livestock or fish, it is a major driver
of climate change and often results in the overexploitation of
natural resources. Food for companion animals accounts for almost a
quarter of meat produced in the US, and in the US alone it is
estimated dog and cat food is responsible for 65 million tonnes of
CO(2) -equivalent methane and nitrous oxide.
GDF is focused on developing cultivated pet food, with the goal
of creating a novel range of products from ingredients that should
appeal to pet owners who value sustainable, slaughter-free,
antibiotic-free, high quality nutritious food for their pets.
Agronomics first launched GDF in March 2022, investing GBP150,000
in the Founder's round. Subject to audit, Agronomics will be
carrying this investment at GBP4.96 million, including an
unrealised gain of GBP3.81 million.
Owen Ensor, CEO of Good Dog Food, said:
"We're thrilled to have the opportunity to work with Pets at
Home. As the UK's leading pet retailer, they have deep expertise
and knowledge of the UK pet market and could be instrumental in
helping us transform food for our pets. With them, we believe we
can launch a product that is not only healthy and delicious but
also truly sustainable."
Lisa Miao, Chief Operating Officer Retail at Pets at Home,
said,
"Our values underpin everything we do, and one of those core
values is our focus on the planet and how we make pet care more
environmentally sustainable, while ensuring nutritional needs are
met in an affordable way. It is important to be part of that
commitment to sustainability, to test and learn for the future and
to help drive change. If we can replace some of the meat and fish
used globally in pet food with a more sustainable alternative, that
would be a real step change or the industry."
Jim Mellon, Executive Director at Agronomics, said:
" By creating sustainable, ethical products from cells, Good Dog
Food can replace the 20% of meat and fish used across the world for
use in pet food. Today's announcement is a significant milestone
and provides the next step towards the production of cultivated pet
food products to a growing mass market, ensuring every dog owner
has access to ethically sustainable alternatives for their beloved
canines."
About Good Dog Food
Good Dog Food aims to develop the first ever cultivated meat
products for the GBP80 billion pet food industry. They will create
meat that is truly healthy, ethical, and sustainable whilst being
free from antibiotics and steroids. Given the more straightforward
regulation for pet food, Good Dog Food aims to commercialise
product faster than cultivated meat for human food. To date they
have removed all animal components from their manufacturing
process, have developed prototype products, and built relationships
with leading pet food
manufacturers and retailers. Find out more at www.gooddogfood.com .
About Agronomics
Agronomics is a leading listed alternative proteins company with
a focus on cellular agriculture and cultivated meat. The Company
has established a portfolio of over 20 companies in this rapidly
advancing sector. It seeks to secure minority stakes in companies
owning technologies with defensible intellectual property that
offer new ways of producing food and materials with a focus on
products historically derived from animals. These technologies are
driving a major disruption in agriculture, offering solutions to
improve sustainability, as well as addressing human health, animal
welfare and environmental damage. This disruption will decouple
supply chains from the environment and animals and be fundamental
to feeding the world's expanding population. A full list of
Agronomics' portfolio companies is available at
https://agronomics.im/ .
Agronomics Beaumont Canaccord Genuity Cenkos Peterhouse Capital
Limited Cornish Limited Limited Securities Plc Limited SEC Newgate
The Company Nomad Joint Broker Joint Broker Joint Broker Financial
Communications
====================== ==================== ====================== ====================== ===============
Richard Reed Roland Cornish Andrew Potts Giles Balleny Lucy Williams Bob Huxford
Denham Eke James Biddle Harry Rees Michael Johnson Charles Goodfellow George Esmond
Alex Aylen (Head of
Equities)
====================== ==================== ====================== ====================== ===============
+44 (0) 1624
639396 Agronomics@sec
info@agronomics. Newgate
im +44 (0) 207 628 3396 +44 (0) 207 523 8000 +44 (0) 207 397 8900 +44 (0) 207 469 0936 .co.uk
====================== ==================== ====================== ====================== ===============
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRAKZGZVRZLGFZG
(END) Dow Jones Newswires
June 22, 2023 05:00 ET (09:00 GMT)
Agronomics (LSE:ANIC)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Agronomics (LSE:ANIC)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024
