Hargreaves Lansdown

Agronomics ups stake in Dutch lab-grown meat firm

Thu 13 May 2021 16:07 | A A A

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(Sharecast News) - Alternative proteins investor Agronomics announced a purchase of 117 shares, worth €0.2m (£0.17m), in existing portfolio company Meatable on Thursday.

The AIM-traded firm said it now holds 4,859 shares in Meatable, representing an equity ownership of 5.84% on a fully-diluted basis.

Subject to audit, the additional acquisition would allow Agronomics to carry that position in its accounts at a book value of €8.15m, representing an unrealised gain on cost of €2.95m, following the completion of Meatable's $47m (£33.46m) series A financing announced in March.

"Meatable is a Dutch cultivated meat company aiming to deliver, at scale, a new natural, cultivated meat that looks like, tastes like, and has the nutritional profile of traditional meat," the Agronomics board said in its statement.

It said its proprietary 'opti-ox' technology enables it to produce meat "rapidly, sustainably, and without harming animals".

At 1550 BST, shares in Agronomics were up 4.17% at 25p.

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