RCS - Agronomics Limited - Formo Successful Tasting Event

AgronomicsAnnouncement

18/07/2023 07:00

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RNS Number : 2753G  Agronomics Limited  18 July 2023

18 July 2023

Agronomics Limited

("Agronomics" or the "Company")

Formo Successful Tasting Event

Agronomics (ANIC:LSE), the leading listed company focused on the field of
cellular agriculture, is pleased to announce that it recently hosted a tasting
experience in partnership with Formo Bio GmbH ("Formo"), its portfolio company
and one of the leading precision fermentation Food Technology operators.

Investors, partners and members of the press were invited to an exclusive
tasting experience in which Formo's animal-free cheese and egg delicacies,
created through precision fermentation, were included in a menu designed by
Michelin Star Chef Allan Pickett.

Formo is a visionary FoodTech company dedicated to introducing the future of
animal-free products to consumers. As Europe's pioneering cellular agriculture
company, their goal is to craft delectable and highly functional proteins
through precision fermentation, which is a process that harnesses the power of
domesticated microorganisms. By doing so, they create remarkable dairy and egg
alternatives that closely mimic nature's own wonders, bringing forth a diverse
range of indulgent and satisfying products.

Formo's cheeses have the same taste, texture, and functional properties as
animal-derived cheeses, but come at a substantially lower cost for the
environment, human health, and animal welfare. According to Formo, precision
fermentation can reduce Greenhouse Gas Emissions by over 90%, water
consumption by over 95%, energy consumption by 60%, and land usage by 99%.

See video below:

https://app.frame.io/reviews/a7403411-e645-4846-9a74-8a3fd7e1f480/c00a1c57-48f2-46a8-8963-746e14d9f459
(https://app.frame.io/reviews/a7403411-e645-4846-9a74-8a3fd7e1f480/c00a1c57-48f2-46a8-8963-746e14d9f459)

At the event in London, guests were treated to:

Appetizer - Truffled Le Kreuzberg tartlets, salt baked golden Heritage
beetroots, pea sprouts and red amaranth

Bao/Burger - WhatCameThird Egg Slider

Salad - Athena with Compressed Watermelon and Isle of Wight tomatoes, Dried
Black Olive Crumb

Quiche - WhatCameThird Egg vegetable quiche

Cheese platter - Le Kreuzberg served with Membrillo paste, Lavosh crackers,
fresh and dried figs, celery and grapes

Dessert - Frischhain Cheesecake with basil infused English Strawberries

Jim Mellon, Co-Founder and Executive Director of Agronomics said:

"We have been fervent supporters of Formo and its technology since the company
was founded. In just four years, Formo has made unprecedented progress and is
now delivering delicious, animal-free dairy products direct to people's
plates. This latest event demonstrates how the Company is transforming the
dairy industry, using its novel technologies to tackle climate change, improve
our environment and reduce the suffering of animals without compromising the
foods we love to eat."

About Formo

Formo is a FoodTech company on a mission to bring the next generation of
animal-free products to consumers. The startup is Europe's first cellular
agriculture company developing dairy and egg products using delicious and
functional proteins derived from precision fermentation. In 2019, Formo was
founded by Raffael Wohlgensinger to create a more sustainable and ethical food
system - where change is not initiated through consumer sacrifice but rather
through delicious and hedonistic products.

About Agronomics

Agronomics is a leading listed 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 invest 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
improve food security for the world's expanding population. A full list of
Agronomics' portfolio companies is available at https://agronomics.im/.

About Cellular Agriculture

Cellular Agriculture is the production of agriculture products directly from
cells, as opposed to raising an animal for slaughter or growing crops. This
encompasses cell culture to produce cultivated meat and materials, and
fermentation processes that harness a combination of molecular biology,
synthetic biology, tissue engineering and biotechnology to massively simplify
production methods in a sustainable manner.

Over the coming decades, the source of the world's food supply traditionally
derived from conventional agriculture will change dramatically. We have
already witnessed the first wave of this shift with the consumer adoption of
plant-based alternative proteins but today, we are on the cusp of an even
bigger wave of change. This is being facilitated by advances in cellular
agriculture. This change is necessary, given scientists' claims that if we
maintain existing animal protein consumption patterns, then we will not meet
the Paris Agreement's goal of limiting warming to 1.5℃.

AT Kearney, a global consultancy firm, projects that cultivated meat's market
share will reach 35% by 2040. This combined with the Good Food Institute's
estimate that a US $1.8 trillion investment will be required in order to
produce just 10% of the world's protein using this technology, means that we
are on the cusp of a multi-decade flow of capital to build out manufacturing
facilities. Funding in the field of cellular agriculture is accelerating,
however, still, less than US$ 5 billion has been invested worldwide since the
industry's inception in 2016.

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
 Richard Reed         Roland Cornish        Andrew Potts                    Giles Balleny         Lucy Williams         Bob Huxford

 Anthony Hughes
 Denham Eke           James Biddle          Harry Rees                      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

 

 

 

 

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