RCS - Agronomics Limited - Solar Foods Launch New Solein-powered products

AgronomicsAnnouncement

19/08/2024 07:00

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RNS Number : 8385A  Agronomics Limited  19 August 2024

 

19 August 2024

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

("Agronomics" or the "Company")

 

Solar Foods Launch New Solein-powered products in Singapore

Agronomics (LON: ANIC), a leading listed company in the field of cellular
agriculture, is pleased to announce that its portfolio company Solar Foods Oy
("Solar Foods") has unveiled two new Solein™-powered products in partnership
with the Japanese multinational food and bioscience corporation Ajinomoto Co.
Inc. ("Ajinomoto"), to be launched in the Singapore following approval from
the Singapore Food Agency.

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

"The partnership with Ajinomoto, a food company with a presence in 130
countries, paves the way for expansion into other markets. Solar Foods is one
of the most advanced cell agriculture companies, with a wholly owned and fully
operational factory to deliver products directly to customers and key retail
suppliers. We are very much looking forward to seeing product sales begin in
Singapore and for regulatory approval in the US and Europe."

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

VANTAA, 9 August 2024. Solein® takes its next step towards commercial use as
leading Japanese food manufacturer, the Ajinomoto Group, unveils two new
Solein-powered products: Traditional Flowering Mooncakes and Ice Cream
Sandwiches. The products are the first to be launched under Ajinomoto's new
conscious brand Atlr.72™. The limited edition launch in Singapore marks a
significant leap forward, making Solein available for consumers and larger
scale commercial use.

Last year, Solar Foods and Japanese food giant Ajinomoto entered a strategic
product development partnership, with the aim of piloting Solein-powered
products in Singapore. The partnership is now proceeding to the next stage
with Ajinomoto launching the new conscious brand Atlr.72™ (Atelier Seven
Two) to drive the company's green food business, in response to the growing
demand for health- and environmentally conscious products. The first
limited-edition products of the brand, Flowering Mooncakes and Ice Cream
Sandwiches, are both powered by Solein.

After piloting the products in Singapore, the first market where Solein has
been granted the food authorities' novel food approval, Ajinomoto is looking
into expanding to other countries and regions. The company also plans to
broaden the brand from sweet products to everyday foods. In addition, they
will continue to test and verify the best sales channels.

Huge leap forward for Solein

This April, Solar Foods' Factory 01 started its operations. Factory 01 is the
first facility providing commercial-scale production of Solein for the needs
of the food industry, food brands and food service companies; making it
possible for Solein to be available to consumers on a large scale, for the
first time.

"Ajinomoto's launch marks an important milestone on our journey to renew
existing food categories and reduce the environmental impact of food
production. It's a major step for the commercial use of Solein as our new
factory is now ramping up its production, paving the way for the introduction
of Solein to people's plates", says Solar Foods CEO and Co-founder Pasi
Vainikka.

Solein is also expected to enter the US market with a US GRAS status
(Generally Recognized As Safe) in the upcoming months, which will open up new
possibilities for the commercial use of Solein. In addition, applications for
novel food authorisation have previously been filed in other key markets such
as the UK and the European Union.

Fostering a new era of next generation food systems

The green food business is one of the Ajinomoto Group's major growth areas,
and as a part of this business, Ajinomoto promotes the co-creation of new food
ingredients and next-generation food systems, including protein, with low
environmental impact. The company believes that the most important elements of
a food product are good taste, good appearance, and affordability, and that
consumers will be more receptive and satisfied if they are aware that the
product contains health- and environmentally conscious raw materials and
ingredients.

"With the new brand, Ajinomoto proposes a new food lifestyle that fosters a
respect for nature in today's consumers. Solar Foods is proud to be supporting
this ambition, and we share the vision for what the future of food will
be", Vainikka continues.

In the Atlr.72™ Flowering Mooncakes and Ice Cream Sandwiches, Solein is
substituting dairy, giving the final products a protein boost and helping
reduce the final product's environmental impact. Solein also contributes to
the rich consistency of the ice cream. The other ingredients in these
novelties have also been selected with a focus on health and environmental
sustainability.

The products will be available for a limited time in Ajinomoto's pop-up stores
in two of Singapore's largest commercial facilities, Takashimaya Singapore as
of August 12(th) and One Holland Village as of August 30(th). The launch
takes place ahead of the Mid-Autumn Festival, when Singaporeans traditionally
gift mooncakes to each other while wishing their family and friends happiness.

What is Solein?

Solein is an all-purpose protein grown with the air we breathe: The unique
bioprocess takes a single microbe, one of the billion different ones found in
nature, and grows it by fermenting it using air and electricity. Solein is a
nutritionally rich and versatile ingredient which can replace protein
virtually in any food. Solein can also be used as a fortifier to complement
the nutritional profile of various foods: it can be a source of iron, fibre
and B vitamins, and it can also bring different techno-functionalities into
food products. Solein is suitable for any food or product, regardless of diet.
Learn more about Solein at www.solein.com (http://www.solein.com/) .

 

About Solar Foods (https://solarfoods.com/)

Solar Foods produces protein using carbon dioxide and electricity.
Solein™ production, irrespective of weather and climate conditions,
liberates global protein production from the constraints of traditional
agriculture. Solar Foods, founded in 2017 in Espoo, Finland by Dr Pasi
Vainikka, Dr Juha-Pekka Pitkänen, Sami Holmström, Jari Tuovinen, Professor
Jero Ahola, and Janne Mäkelä as a spinoff from VTT Technical Research Centre
of Finland and LUT University. www.solarfoods.com
(http://www.solarfoods.com/) .

 

About Agronomics

 

Agronomics is a leading London-listed company focussing on investment
opportunities within the field of cellular agriculture. 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/ (https://agronomics.im/) .

 

For further information please contact:

 

 Agronomics Limited   Beaumont Cornish Limited  Canaccord Genuity Limited       Cavendish Securities Plc  Peterhouse Capital Limited  SEC Newgate
 The Company          Nomad                     Joint Broker                    Joint Broker              Joint Broker                Public Relations
 Jim Mellon           Roland Cornish            Andrew Potts                    Giles Balleny             Lucy Williams               Bob Huxford

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

                                                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

 

 

 

Nominated Adviser

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

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