Agronomics Ltd on Friday said that its portfolio company, Clean Food Group Ltd, has reached a partnership deal with the bakery brand, Roberts Bakery Ltd.
The Isle of Man-based venture capital firm, which invests in the cellular agriculture field, said the agreement will allow Clean Food to use Roberts Bakery’s surplus bread as a feedstock for its proprietary non-genetically modified yeast strain.
The partnership will start with an initial trial phase, before hopefully creating a circular ecosystem whereby Roberts Bakery provides Clean Food with its bread waste to produce oils that can be used as an ingredient in bread and biscuits.
Agronomics has an equity ownership of 31% in Clean Food.
Separately on Friday, Agronomics said that Liberation Labs Holdings Inc has received a $25 million loan for its biomanufacturing facility.
The United States Department of Agriculture has awarded Ameris Bancorp a ‘Business and Industry’ loan guarantee to help build and complete Liberation Labs’ biomanufacturing facility in Indiana, US.
Liberation Labs is currently constructing a commercial-scale, purpose-built, precision fermentation biomanufacturing facility with a capacity of 600,000 litres and a fully dedicated downstream process, Agronomics said. One built, the facility will be used to produce precision fermentation products.
Agronomics has an equity ownership of 37% in Liberation Labs.
Agronomics shares were trading 0.4% lower at 10.36 pence each in London on Friday morning.
Copyright 2023 Alliance News Ltd. All Rights Reserved.
