London-listed Agronomics (AIM:ANIC ) has completed a further investment into Rebellyous Foods, taking its stake to 1.23%.
The investment company focused on cellular agriculture said the subscription will add to its existing 1% stake on a fully diluted basis and will be paid using cash from its own resources.
Since its initial investment in October 2019 of $250,000, Rebellyous has since moved to a new 21,000 sq. ft. headquarter facility in West Seattle to ‘rapidly’ scale its production capacity.
Shares in Agronomics were trading -6.67% lower at 4.9p during Wednesday trading.
Rebellyous is a leader in plant-based meat production innovation aimed at providing affordable plant-based meat to the foodservice industry.
The group has seen recent success in expanding its client base and selling its plant-based chicken nuggets to schools, cafeterias and hospitals across the USA.
Agronomics makes investments in the fields of cellular agriculture and synthetic biology, with an emphasis on environmentally friendly alternatives to the traditional production of animal-derived products.
Its business aims to support an evolving global food system and is focused on feeding the world's growing population as it approaches 10 billion people by 2050.
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