Agronomics takes 7% stake in US-based Simply Foods

Francesca Morgan
Company News
13:41, 29th July 2019

Agronomics (ANIC) FOLLOW, the AIM-listed firm targeting life science investments such as the emerging alternative food technology, announced on Monday that it had taken a 7% stake in US-based Simply Foods - with the company trading under New Age Meats.

Founded by chemical engineer Brian Spears in 2017, New Age Meats is a cultured pork company based in San Francisco, California. The lab-grown meat firm will use the funds of $700,000 to develop pork-based sausages, with the hopes of marketing its first commercial product in 2021.

Richard Reed, Chairman of Agronomics commented, "New Age Meats is a pioneer in the clean meat industry, having been the first to produce and serve a cultured pork sausage tasting prototype.”

Shares perked up over 9% following this morning’s news. 

ANIC price chart

Mr Reed acknowledged the commitment in line with a new global evolution of investment centered around an increasing awareness of environmental, social and governance considerations. 

He commented, “This investment aligns perfectly with Agronomics' stated strategy and more broadly to the growing environmental and ethical concerns of investors."

Earlier this year, the UN estimated that global food production will need to increase up to 70% in order to feed the world’s population by 2050. As a result, the alternative meats industry is considered one of the fastest growing sectors addressing these global environmental concerns and, it seems, is striking a particular chord with investors. 

Brian Spears, Founder of New Age Meats, commented, "I am extremely pleased that Agronomics has made such a commitment to our exciting venture and the cultured meat sector as a whole.”

He added further: “Cultured meat simultaneously addresses three major issues - human health, the environment and animal welfare.  This is the first small step we are taking to reverse climate change, stop breeding animals into a life that's not worth living and to help humans to become healthier."

For more News and Updates on Agronomics: FOLLOW

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

Recent Articles