TIDMANIC
Agronomics Limited
16 March 2023
16 March 2023
Agronomics Limited
("Agronomics" or the "Company")
Food Fermentation Europe launches, calling on EU to speed up in
global race on sustainable food innovation
Agronomics (ANIC:LSE), the leading listed company focused on the
field of cellular agriculture, is pleased to announce that two of
its portfolio companies, precision fermentation egg producer Onego
Bio and precision fermentation dairy producer Formo, have joined
other European leaders in this category in the formation of Food
Fermentation Europe ("FFE"). The alliance will work with
policymakers and stakeholders to create the right market and
regulatory conditions to embrace fermentation as one of the most
sustainable pathways for the agri-food sector in Europe.
The full announcement is set out below without any material
changes.
Food Fermentation Europe launches, calling on EU to speed up in
global race on sustainable food innovation
With Europe in the midst of severe drought and food security at
risk again, it is clear that a more resilient and sustainable food
production system is needed. Precision Fermentation is a key
technology to enable this. Leading precision fermentation players
have come together to establish a new alliance, Food Fermentation
Europe (FFE). FFE will work towards a forward looking regulatory
environment that can help bring more sustainable animal-free foods
and ingredients to the European market and enable a resilient and
sustainable food system in Europe.
Better Dairy, Formo, Imagindairy, Onego Bio and Those Vegan
Cowboys have joined forces to establish Food Fermentation
Europe.
Precision Fermentation as key to a sustainable food
framework
FFE's founding members use the centuries-old technique of
fermentation, evolved to a high-tech form called precision
fermentation, to produce specific animal-free products such as
proteins or fats leading to high quality alternatives for milk,
eggs, cheese and other products. The technology, already used for
decades in enzyme and additive production, can deliver a major
positive impact on emissions, biodiversity and water use. Our food
production technologies - all developed in Europe - can help to
mitigate the climate crisis Europe is witnessing.
Opportunity for Europe to step up on sustainable food
innovation
This alliance forms at a time when:
-- The EU is looking to develop a new Sustainable Food Systems
Framework for how we produce and consume food in Europe.
-- Demand for tasty and nutritious animal-free, sustainable
foods options is rising rapidly among people.
-- Despite this, the policy objectives of the Green New Deal and
the regulatory process for Novel Foods (which includes food made
via precision fermentation) are not aligned.
-- The current regulatory processes are far too lengthy and
opaque and changes are urgently needed to facilitate market
access.
It's clear that the EU needs to enable innovative solutions to
come to market sooner rather than later, or risks falling behind in
the global race on sustainable food innovation.
Towards a new blend of the EU food system
Food Fermentation Europe's vision is a new blend within the EU's
food system, which combines sustainable tradition and technology.
FFE looks forward to working with policymakers and stakeholders to
create the right market and regulatory conditions to embrace
fermentation as one of the most sustainable pathways for the
agri-food sector, secure the EU's competitiveness in food
innovation and create a sustainable food framework which is aligned
with the Green New Deal.
Christian Poppe, Spokesperson for Food Fermentation Europe and
Director Global Public Affairs at Formo: "This is a critical time
for the EU's agri-food sector. Not only do we need to become more
sustainable, but we also need to ensure that new innovations can
break through and come to market to make sure the EU remains
competitive globally. Food fermentation products can meet both of
these challenges by providing great new animal-free products for
people, with drastically less environmental footprint than their
alternatives. Now is the right time for our Alliance and we are
committed to working with EU decision makers and stakeholders to
identify the policies needed to facilitate the food system
transition."
What's next:
Food Fermentation Europe will hold its launch event this summer
in Brussels. Other companies across the fermentation sector are
encouraged to reach out to the alliance. To keep track of all
developments, visit the website: www.foodfermentation.eu
About Food Fermentation Europe
Food Fermentation Europe is the industry alliance representing
the transformative fermentation food and food ingredient sector.
Founded by Better Dairy, Formo, Imagindairy, Onego Bio and Those
Vegan Cowboys, our alliance works to raise awareness and build a
supportive, forward-looking policy framework to enable the rollout
of innovative fermentation technology and products in Europe. We
are committed to working with additional stakeholders to ensure a
smooth transition to more sustainable food systems.
----------------------------------------
Founding member CEOs
Jevan Nagarajah, CEO of Better Dairy:
"Our supply chains are being tested to the extreme by a range of
issues including the climate crisis, war in Ukraine and diseases
such as bird flu. Europe's population, as is the right of every
population, deserves to be food-secure in a world where droughts
are expected to rise in both frequency and intensity. Precision
Fermentation is a powerful means to creating a resilient food
system, and our alliance is ready to engage with the stakeholder
ecosystem on much needed policy changes and attitudes towards this
technology."
Raffael Wohlgensinger, CEO of Formo:
"Establishing Food Fermentation Europe is a timely and much
needed step towards giving fermentation-enabled food technologies a
voice in key policy arenas and debates. We are excited to launch
this with our industry peers and can't wait to engage with everyone
who shares our vision of creating an innovation-friendly policy
framework that enables the emergence of a sustainable, equitable
and resilient agri-food system. Europe still has a chance to become
an accelerator of helping the bioeconomy to be a catalyst for safe,
sustainable and animal-free fermentation foods - but it needs to
take radical policy action immediately."
Dr. Eyal Afergan, CEO of Imagindairy:
"Emissions reduction is an urgent global challenge, but it also
presents a unique opportunity for the agri-food sector to embrace
new sustainable practices. Precision fermentation holds multiple
environmental benefits, including a low carbon footprint and thus
offers a promising solution for reducing emissions while creating
new opportunities for farmers and entrepreneurs to innovate and
contribute to a more sustainable food system. It is our mission as
an alliance to explore and build these opportunities together with
all relevant stakeholders."
Maija Itkonen, CEO of Onego Bio:
"As Food Fermentation Europe we will advocate for a predictable
and more efficient market approval process. Regulations and
policies need to be aligned with the legislative framework for
Sustainable Food Systems if Europe wants to stay globally
competitive with regard to sustainable food innovation. The members
of Food Fermentation Europe all have excellent science-based
products with high market traction and great sustainable impact
potential. Contrary to the assumption of the EU, we are well funded
and know how to make money out of science. The question is, how can
the EU improve its market approval process for sustainable food
innovation?"
Jaap Korteweg, Organic Farmer, CEO Those Vegan Cowboys, founder
The Vegetarian Butcher:
"If we're smart about fermentation, 8 billion people can eat
well, off just 40% of the farmland in use today. Circular, organic,
plant-based and in balance. Freeing the animal from our food system
relieves our farmers from the societal burdens they've come to bear
- they can reclaim their role as true herders of the land. The
faster we can make this happen, the better, and this alliance will
definitely make a difference."
For media inquiries please contact:
media@foodfermentation.eu
About Agronomics
Agronomics is a leading listed alternative proteins company with
a focus on cellular agriculture and cultivated meat. The Company
has established a portfolio of over 20 companies in this rapidly
advancing sector. It seeks to secure minority stakes in companies
owning technologies with defensible intellectual property that
offer new ways of producing food and materials with a focus on
products historically derived from animals. These technologies are
driving a major disruption in agriculture, offering solutions to
improve sustainability, as well as addressing human health, animal
welfare and environmental damage. This disruption will decouple
supply chains from the environment and animals and be fundamental
to feeding the world's expanding population. A full list of
Agronomics' portfolio companies is available at
https://agronomics.im/ .
About Cellular Agriculture
Cellular Agriculture is the production of agriculture products
directly from cells, as opposed to raising an animal for slaughter
or growing crops. This encompasses cell culture to produce
cultivated meat and materials, and fermentation processes that
harness a combination of molecular biology, synthetic biology,
tissue engineering and biotechnology to massively simplify
production methods in a sustainable manner.
Over the coming decades, the source of the world's food supply
traditionally derived from conventional agriculture is going to
change dramatically. We have already witnessed the first wave of
this shift with the consumer adoption of plant-based alternative
proteins but today, we are on the cusp of an even bigger wave of
change. This is being facilitated by advances in cellular
agriculture. This change is necessary, given scientists' claims
that if we maintain existing animal protein consumption patterns,
then we will not meet the Paris Agreement's goal of limiting
warming to 1.5 .
AT Kearney, a global consultancy firm projects that cultivated
meat's market share will reach 35% by 2040. This combined with the
Good Food Institute's estimate that a US $1.8 trillion investment
will be required in order to produce just 10% of the world's
protein using this technology, means that we are on the cusp of a
multi-decade flow of capital to build out manufacturing facilities.
Funding in the field of cellular agriculture is accelerating,
however, still, less than US$ 5 billion has been invested worldwide
since the industry's inception in 2016.
For further information please contact:
Agronomics Beaumont Canaccord Cenkos Peterhouse
Limited Cornish Genuity Securities Capital TB Cardew
Limited Limited Plc Limited
The Company Nomad Joint Broker Joint Broker Joint Broker Public Relations
---------- -------------- --------------- --------------- --------------------------
Richard Roland Andrew Giles Balleny Lucy Williams Ed Orlebar
Reed Cornish Potts Max Gould Charles Alistair Walker
Denham Eke James Harry Rees Michael Goodfellow
Biddle Alex Aylen Johnson
(Head of
Equities)
---------- -------------- --------------- --------------- --------------------------
+44 (0) 20 7930
0777
+44 (0) +44 (0) +44 (0) +44 (0) +44 (0) +44 (0) 7738
1624 639396 207 628 207 523 207 397 207 469 724 630
info@agronomics.im 3396 8000 8900 0936 agronomics@tbcardew.com
---------- -------------- --------------- --------------- --------------------------
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained within this
announcement is of a non-regulatory nature. Reach announcements are
identified with an orange label and the word "Reach" in the source
column of the News Explorer pages of London Stock Exchange's
website so that they are distinguished from the RNS UK regulatory
service. Other vendors subscribing for Reach press releases may use
a different method to distinguish Reach announcements from UK
regulatory news.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRAUVOBROAUOAAR
(END) Dow Jones Newswires
March 16, 2023 03:00 ET (07:00 GMT)
Port Erin (LSE:PEBI)
Historical Stock Chart
From Apr 2024 to May 2024
Port Erin (LSE:PEBI)
Historical Stock Chart
From May 2023 to May 2024