RCS - Agronomics Limited - Bond Pet Foods Achieves Key Milestone

AgronomicsAnnouncement

06/02/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240206:nRSF0575Ca&default-theme=true

RNS Number : 0575C  Agronomics Limited  06 February 2024

 

6 February 2024

Agronomics (https://agronomics.im/) (https://agronomics.im/) Limited
(https://agronomics.im/)

("Agronomics" or the "Company")

 

Bond Pet Foods Achieves Key Milestone For Sustainable

 Protein Production

 

Agronomics (LON:ANIC), a leading listed company in cellular agriculture, is
pleased to announce that its portfolio company Bond Pet Foods ("Bond"), the
US-based company that produces animal proteins through precision fermentation,
has delivered two metric tons of animal protein to one of the most popular pet
food providers in the US, Hill's Pet Nutrition Inc ("Hill's") - a division of
the Colgate-Palmolive Company.

This represents a major milestone toward Bond commercialising its fermentation
technology for pet food applications. The scale of the delivery will allow
Hill's to formulate a variety of test products at its Pet Nutrition Center in
Topeka, Kansas, for regulatory review and evaluation. That data will be used
for the ingredient's eventual review by the U.S. Food and Drug
Administration's Center for Veterinary Medicine, as well as to prepare
prototypes for market evaluation.

The commercial agreement reinforces a strong partnership between Bond and
Hill's after the companies first announced a joint venture in 2021 to develop
a source of more sustainable animal protein to fulfil the dietary needs of
dogs and cats. In the U.S. alone, 74 million dogs and 56 million cats in
households currently consume significant amounts of animal-based protein. As a
result, a 2017 study published in the scientific journal PLUS One found that
pets alone account for 30% of the carbon dioxide emissions associated with
domestic meat consumption.

Agronomics holds 531,692 Series A Preferred Shares, representing an equity
ownership of 1.85% in Bond.

Rich Kelleman, Founder and CEO of Bond Pet Foods said:

"Producing two tons of product at the 45,000-litre scale is a major milestone
in the Bond-Hill's collaboration. Hill's commitment to expand on our work
together demonstrates the opportunity we collectively see in Bond's
ingredients for the pet industry's food future."

Jim Mellon, Co-Founder and Executive Chair of Agronomics commented:

"The growing commercial partnership with Hill's, one of America's most popular
pet food providers, shows the rapid progress being made toward taking these
products to market. Prototype and market evaluation is one of the final steps
toward regulatory approval, and we await the results with anticipation. Many
congratulations to Bond on its exceptional work so far."

About Agronomics (https://agronomics.im/)

Agronomics is a leading listed alternative proteins company with a focus on
cellular agriculture including precision fermentation 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, as
well as being fundamental to feeding the world's expanding population. A full
list of Agronomics' portfolio companies is available at
(https://clicktime.symantec.com/368cVqxx3R6vTFuHpf6MSE66Gi?u=https%3A%2F%2Fagronomics.im%2F)
https://agronomics.im/
(https://clicktime.symantec.com/368cVqxx3R6vTFuHpf6MSE66Gi?u=https%3A%2F%2Fagronomics.im%2F)
.

About Bond Pet Foods

Bond Pet Foods is a Boulder, Colorado-based company using biotechnology to
create meat proteins that are nutritionally comparable to their conventional
counterparts but without all the associated harmful material - so people,
pets, farm animals and the planet all win. Using some of the same processes
that are employed in craft brewing, Bond produces high-quality animal proteins
through fermentation, harvests them to better meet the nutritional
requirements of companion animals, and supplies the ingredients to
manufacturers for pet food, treat and supplement applications.

For further information please contact:

 Agronomics           Beaumont              Canaccord Genuity Limited       Cenkos                Peterhouse Capital    SEC Newgate

 Limited              Cornish Limited                                       Securities Plc        Limited
 The Company          Nomad                 Joint Broker                    Joint Broker          Joint Broker          Public Relations
 Jim Mellon           Roland Cornish        Andrew Potts                    Giles Balleny         Lucy Williams         Bob Huxford

 Anthony Hughes
 Denham Eke           James Biddle          Harry Pardoe                    Michael Johnson       Charles Goodfellow

                                            Alex Aylen (Head of Equities)
 +44 (0) 1624 639396  +44 (0) 207 628 3396  +44 (0) 207 523 8000            +44 (0) 207 397 8900  +44 (0) 207 469 0936  agronomics@secnewgate.co.uk

 info@agronomics.im

 

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRALELFBZLLXBBX