14th Sep 2021 21:23
Agronomics Ltd - Isle of Man-based alternative proteins company - Portfolio firm BlueNalu Inc signs collaboration with frozen food firm Nomad Foods Ltd for the introduction of cell-cultured seafood in Europe. Agronomics holds a 5.9% equity stake in BlueNalu.
"We are excited by the opportunity to collaborate with Nomad Foods, which has revered, market- leading brands such as Birds Eye, Findus and iglo, to accelerate our market strategy in Europe. With this announcement, BlueNalu is well-positioned to bring our leading-edge innovation into Europe in the coming years, which complements our existing collaborations in Asia and North America," says BlueNalu CEO Lou Cooperhouse.
In addition, portfolio firm Meatable BV inks a joint development agreement with Koninklijke DSM NV, to develop growth media for cultivated meat. Growth media is a nutrient-rich liquid which contains the essential nutrients such as carbohydrates, proteins, salts, vitamins, and growth factors that cells need to grow.
Agronomics holds a 5.8% interest in Meatable.
"Joining forces with DSM, a global leader in biotechnology, will accelerate our research and development trajectory significantly. Together, we aim to develop the right nutritional ingredients in a fundamentally more cost effective and scalable process, to become the leading consumer choice for cultivated meat," notes Meatable CEO Krijin de Nood.
Current stock price: 25.00 pence
Year-to-date change: up sharply from 12.00p
By Dayo Laniyan; [email protected]
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