20th Mar 2024 16:42
(Alliance News) - Agronomics Ltd announced on Wednesday plans to bring animal-fee casein protein to the mass market.
The Isle of Man-based venture capital firm, which invests in the cellular agriculture field, said its subsidiary, Formo Bio GmbH, will enter a new partnership with the Belgian company, Those Vegan Cowboys.
Both companies produce animal-free cheese, which replicates the properties of animal products using casein derived from precision fermentation. According to Agronomics, the partnership is focused on commercialising production for the protein by improving efficiency and scale.
Formo Chief Executive Office Raffael Wohlgensinger said: "Our technology is the key to conquering a trillion-dollar market in the next ten years. In order to gain a leading market share together with our partners, the production of animal-free casein needs to be able to compete with animals on a cost level."
Agronomics shares were down 2.5% to 8.76 pence in London at market close on Wednesday.
By Elijah Dale, Alliance News reporter
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