RCS - Agronomics Limited - Tropic’s product receives regulatory approval

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RNS Number : 2762A  Agronomics Limited  14 April 2026

Agronomics Limited

("Agronomics" or the "Company")

Tropic's Non‑Browning Banana receives regulatory approval in Japan and
Brazil

 

Agronomics (LSE: ANIC), the leading listed company focused on clean food,
announces that its portfolio company, Tropic Biosciences UK Limited ("Tropic")
has received regulatory approval in Japan and Brazil for its world-first
non-browning banana variety.

 

The approvals clear the way for Tropic's non-browning banana to be imported,
sold and consumed in both countries. In Brazil, the variety may also be
grown-supporting expanded consumer access, new commercial opportunities and
meaningful reductions in food waste across the value chain.

 

Japan is a key import market, renowned for requiring exceptionally high
standards of quality, freshness and consistency. Tropic's non-browning banana
aligns well with these requirements and supports improved sustainability and
food security. Brazil is one of the world's largest banana-producing and
banana-consuming countries, and regulatory clearance there affirms the value
of the variety for both growers and consumers. Brazilian production accounts
for around 10% of global banana output: Tropic's approval introduces a premium
option that reduces waste, improves sustainability and expands the range of
bananas available in the domestic market.

 

This news follows a series of positive developments at Tropic. In March,
Tropic completed a US$105 million Series C fundraising, and in 2025 it
launched the first new commercial banana varieties in more than 75 years,
including its non-browning banana-named one of TIME Magazine's Best Inventions
of 2025-and an extended shelf-life variety that lengthens green life by an
additional 12 days, increasing field yields, enabling new export routes and
reducing transportation waste by up to 50%.

 

Jim Mellon, Executive Chair of Agronomics, commented: "Japan is one of the
world's most demanding regulatory environments, and Brazil is a leading
producer of bananas. Securing clearance in both markets simultaneously is a
powerful validation of Tropic's platform. With regulatory determinations now
in eleven countries, Tropic is rapidly becoming the global benchmark for
science-led agricultural innovation, and we look forward to the commercial
momentum these approvals will unlock."

 

Agronomics first invested in Tropic in March 2020 and, to date, has invested a
total of £2.3 million, which (subject to audit) is currently carried at
approximately £2.22 million. This position represents around 1.6% of
Agronomics' most recently reported net asset value of £139.9 million as at 31
December 2025.

 

The full announcement from Tropic is set out below, with no material changes:

 

Tropic's Non‑Browning Banana Approved in Japan and Brazil

 

Norwich, UK - [10 April 2026] - Tropic, the pioneering agricultural
biotechnology company, has secured regulatory approval in Japan and Brazil for
its world-first non-browning banana variety. The approvals unlock two of the
most important fresh-produce markets globally and mark a significant milestone
for more sustainable fruit production.

 

The approvals clear the way for Tropic's non-browning banana to be imported,
sold and consumed in both countries and grown in Brazil-enabling expanded
consumer access, new commercial opportunities and substantial reductions in
global food waste.

 

Japan is a key import market, renowned for exceptionally high standards of
quality, freshness and consistency. Tropic's non-browning banana aligns with
these stringent requirements and supports sustainability and food security
objectives.

 

In Brazil-one of the world's largest banana-producing and banana-consuming
countries-regulatory clearance affirms the value of the variety for both
growers and consumers. With Brazilian production accounting for around 10% of
global banana output, Tropic's approval introduces a premium option that
reduces waste, improves sustainability and expands the range of bananas
available in the domestic market.

 

The approvals in Japan and Brazil add to Tropic's global footprint. The
company now has regulatory determinations, notifications or exemptions for its
banana products in eleven countries, including the USA, Canada and the
Philippines. These regions represent more than 70% of the production market
and more than 30% of the consumption market.

 

These approvals build on years of scientific development and an expanding
international regulatory track record across the Americas and Asia,
reinforcing Tropic's position as a global leader in gene-edited tropical
crops.

 

Breakthrough in Banana Innovation

"These approvals represent a major step forward in bringing innovative,
waste‑reducing produce to consumers worldwide," said Gilad Gershon, CEO of
Tropic. "Japan and Brazil each play critical roles in the global fruit market,
and these decisions reflect growing international confidence in new
agricultural technologies designed for modern supply chains."

 

Tropic's non‑browning banana introduces a game‑changing attribute: it
stays fresh, yellow, and appetising long after peeling and slicing,
dramatically reducing spoilage across retail, food service, and supply chains.

 

Launched commercially in 2025, Tropic's non‑browning banana was the world's
first new banana variety in more than 75 years, delivering the same taste and
texture consumers expect while remaining fresh for longer after cutting. By
reducing spoilage and extending usability, the variety supports new retail
opportunities, more efficient distribution and lowers the environmental
footprint of banana consumption.

 

Future Outlook

Tropic has also commercially launched an extended shelf-life banana variety
that lengthens green life by an additional 12 days, increasing yields,
enabling new export routes and reducing transportation waste by up to 50%. The
UK-based company plans to launch a Panama Disease (TR4)-resistant variety in
2027. Panama Disease (TR4) is fast-spreading, has been identified in more than
20 countries globally, and represents an existential threat to the US$ 25
billion banana industry-threatening food security and farmers' livelihoods.

 

As the world's favourite fruit and fourth most important crop, bananas are
central to global food security. Tropic's growing pipeline is designed to
support both growers and consumers-ensuring bananas can be enjoyed for
generations to come.

 

About Tropic

Tropic is a pioneering tropical seeds company dedicated to developing
healthier, more robust, high-performing varieties of tropical crops. The
company's current core crop portfolio focuses on banana and rice, which
together provide livelihoods for billions of people worldwide. Tropic utilises
its proprietary GEiGS® platform and other cutting-edge gene-editing
technologies to develop improved crops with increased disease resistance,
higher yields and more sustainable traits. By harnessing advanced genetic
engineering, Tropic is committed to addressing global agricultural challenges
and delivering innovative solutions that benefit farmers, consumers and the
environment.

 

About Agronomics

Agronomics is a leading London-listed company focused on investment
opportunities within the field of cellular agriculture. The Company has
established a portfolio of over 20 companies developing technologies that
produce food and materials, historically derived from animals, offering
solutions for improved sustainability, human health, and food security.

A full list of Agronomics' portfolio companies is available at
www.agronomics.im (http://www.agronomics.im/) .

For further information, please contact:

 

 Agronomics Limited   Beaumont              Cavendish Capital     Peterhouse            33Seconds

                      Cornish Limited       Markets               Capital               Limited

                                            Limited               Limited
 The Company          Nomad                 Joint Broker          Joint Broker          Public Relations
 Jim Mellon           Roland Cornish        Giles Balleny         Lucy Williams         Jack Ferris

 Denham Eke           James Biddle          Michael Johnson       Charles Goodfellow    Amber Carr
 +44 (0) 1624 639396  +44 (0) 207 628 3396  +44 (0) 207 397 8900  +44 (0) 207 469 0936  agronomics@33seconds.co

 info@agronomics.im

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