Agronomics Ltd - Isle of Man-based investor in cellular agriculture - Says portfolio company Good Dog Food Ltd, trading as Meatly, has become the first company in the world to sell cultivated meat for pet food, and the first company to sell cultivated meat in Europe. Its plant-based ’Chick Bites’ dog food will go on sale at the Pets at Home Group PLC store in Brentford, London, from Friday. Pets at Home is a ‘large investor’ in Meatly. Agronomics holds a 25.54% stake.
Agronomics Chair Jim Mellon says: ‘Industrial agriculture is not only unsustainable but also hugely inefficient, requiring far too much water, land and feed. As a result, demand from both humans and their pets, who consume a fifth of the meat we eat in the UK, is outstripping supply, and that’s pushing our food systems to the limit. We need solutions like Meatly which, along with our other portfolio companies, is showing the world how food production can be cleaner, kinder and sustainable, as well as profitable.’
Current stock price: 4.50 pence, up 2.3% in London on Friday afternoon
12-month change: down 55%
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