RCS - Agronomics Limited - Precision Fermentation Alliance Formed

AgronomicsAnnouncement

20/02/2023 07:00

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RNS Number : 3559Q  Agronomics Limited  20 February 2023

20 February 2023

Agronomics Limited

("Agronomics" or the "Company")

Food Tech Leaders Come Together to Form the Precision Fermentation Alliance

Agronomics (ANIC:LSE), the leading listed company focused on the field of
cellular agriculture, is pleased to announce that portfolio companies The
EVERY Co. and OnegoBio have joined seven other industry leaders in the
creation of the new Precision Fermentation Alliance.

 

●   Change Foods, The EVERY Co., Helaina, Imagindairy, Motif FoodWorks, New
Culture, OnegoBio, Perfect Day, and Remilk are founding members of the
Precision Fermentation Alliance.

 

●    The group will serve as an industry voice and global convener for the
precision fermentation industry with a singular vision of championing
precision fermentation as a trusted solution for a more resilient and
sustainable food system.

The full announcement is set out below without any material changes:

Feb. 16, 2023 - Today, nine precision fermentation leaders across the globe
announced they have joined forces to establish the Precision Fermentation
Alliance, a new trade organization created to champion precision fermentation
as a trusted solution for a more resilient and sustainable food system.

 

The group will serve as an industry voice and global convener for the
precision fermentation industry.

 

The Precision Fermentation Alliance founding members have aligned on the
following goals:

 

·   Promote understanding of precision fermentation technology. Establish
global transparency around ingredients and foods made with precision
fermentation to build trust and familiarity.

 

·   Educate and engage key stakeholders throughout the food industry value
chain to establish best practices regarding regulatory, manufacturing, food
safety, and communications standards and compliance.

 

·   Develop market access and the ability to operate and market products
effectively by engaging with regulators. Unlock public funding and
public-private partnerships to accelerate industry growth.

 

"There is a direct line between food production, climate, socioeconomic
opportunities, and equity. How we make our food is one of the foundational
ways to change the world around us, and just the beginning of the vision for
this group," said Nicki Briggs, MS, RDN, Vice President of Corporate
Communications, Perfect Day and Chair of the Precision Fermentation Alliance.
"This alliance codifies what we've always believed: a kinder, greener tomorrow
is possible through collaboration. This ecosystem of mission-aligned leaders
stands to exponentially accelerate what any one member could do alone."

 

The Precision Fermentation Alliance will also focus on ensuring that
science-based decision making and informed public policy are used in the
regulation of precision fermentation products and technology that are used in
food. The Alliance will also provide a forum to discuss global issues relevant
to precision fermentation industry.

 

"Most of us have consumed foods that contain ingredients made using precision
fermentation for decades, such as vitamins, enzymes and natural flavors,
without much fanfare," said Irina Gerry, Chief Marketing Officer, Change Foods
and Vice Chair, Precision Fermentation Alliance. "As we look to extend the use
of this technology to produce an ever-expanding list of food ingredients, such
as proteins and fats, we will be able to produce a wide variety of our most
beloved foods animal-free, and with a much lower environmental footprint.
Ushering in this new era in food requires clear communication, thoughtful
policy, consistent regulation and stakeholder engagement, which this alliance
is positioned to do."

 

Precision fermentation creates nature-identical, sustainable versions of
ingredients and products consumers love by combining the natural ability of
microorganisms to turn sugars into proteins and other complex organic
molecules with modern biology.

 

About the Precision Fermentation Alliance

 

The Precision Fermentation Alliance is the global industry coalition of
leaders in precision fermentation. Founded in 2023 by Change Foods, The EVERY
Co., Helaina, Imagindairy, Motif FoodWorks, New Culture, Onego Bio, Perfect
Day, and Remilk, this group shares a singular vision of championing precision
fermentation as a trusted solution for a more resilient and sustainable food
system. Members have committed to accelerating the growth of the precision
fermentation industry through communications, research, advocacy, regulation,
and global stakeholder outreach. Together, this coalition is accelerating
their shared path towards a more sustainable future for generations to come.

 

To learn more about the Precision Fermentation Alliance, visit
pfalliance.org/.

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/.

 

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 is going to 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 $1.8 trillion investment will be required to produce just
10% of the world's protein using this technology, means that we are on the
cusp of a multi-decade flow of capital to build out manufacturing facilities.
Funding in the field of cellular agriculture is accelerating, however, still,
less than US$ 5 billion has been invested worldwide since the industry's
inception in 2016.

For further information please contact:

 

 Agronomics           Beaumont              Canaccord             Cenkos                Peterhouse Capital

 Limited              Cornish Limited       Genuity Limited       Securities Plc        Limited               TB Cardew
 The Company          Nomad                 Joint Broker          Joint Broker          Joint Broker          Public Relations
 Richard Reed         Roland Cornish        Andrew Potts          Giles Balleny         Lucy Williams          Ed Orlebar

 Denham Eke           James Biddle          Harry Rees            Max Gould             Charles Goodfellow    Alistair Walker

                                            Alex Aylen            Michael Johnson

                                            (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  +44 (0) 20 7930 0777

 info@agronomics.im                                                                                           +44 (0) 7738 724 630

                                                                                                              agronomics@tbcardew.com

 

 

 

 

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