2nd Dec 2020 10:10
(Alliance News) - Agronomics Ltd on Wednesday said that an investee has received EUR4.3 million of funding in its bid to commercialise a novel protein made from air.
Agronomics shares were 11% higher at 7.90 pence each in London on Wednesday morning. The Isle of Man-based investment company is focused on environmentally friendly food production.
Its portfolio company Solar Foods Oy received EUR4.3 million to support the EUR8.6 million development project of Solein, a natural protein from air. The injection from Business Finland, the country's innovation arm, takes the company's total financing to EUR24.8 million.
Agronomics has a 5.4% stake in Solar Foods.
"Solar Foods stands as the first company to produce food by using air-captured CO2 in a continuous mode, including the preparation of the actual final food products. Solar Foods produces an entirely new kind of nutrient-rich protein, Solein, by using air and electricity as its primary raw materials. Based on natural fermentation, this process revolutionises food production, as the production of Solein is non-dependent on the weather, climate, or agriculture," Agronomics explained.
"Solein is a complete protein with all the essential amino acids that is light in both taste and appearance. It vanishes into daily meals, while simultaneously maintaining its rich nutritional value and offering a unified solution that caters to virtually every imaginable meal of today. This new, genuinely sustainable and natural protein also provides exciting opportunities for entirely new foods of tomorrow."
By Eric Cunha; [email protected]
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