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6.55 -0.20 (-3.08%)

Bid:

6.20

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6.90

Spread: 0.70 (11.29%)

Market Cap: £68.25m

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Agronomics portfolio company JV unveils two Solein-based food products

Mon, 19th Aug 2024 16:26

(Alliance News) - Agronomics Ltd on Monday announced the launch of two new products by its portfolio company Solar Foods Oy in partnership with Japanese multinational food and bioscience firm Ajinomoto Co Inc.

The Isle of Man-based cellular agriculture company committed Solar Foods to a strategic partnership with Ajinomoto last year to develop Solein-based products in Singapore in response to growing demand for health and environmentally-conscious products.

Solein is a nutritionally rich protein grown with air using a unique bioprocess.

Agronomics said: "It can be a source of iron, fibre and B vitamins, and it can also bring different techno-functionalities into food products. Solein is suitable for any food or product, regardless of diet."

The two products, traditional flowering mooncakes and ice cream sandwiches, are to be the first of such products sold under Ajinomoto's Atlr.72 brand.

Executive Chair Jim Mellon said: "The partnership with Ajinomoto, a food company with a presence in 130 countries, paves the way for expansion into other markets. Solar Foods is one of the most advanced cell agriculture companies, with a wholly owned and fully operational factory to deliver products directly to customers and key retail suppliers. We are very much looking forward to seeing product sales begin in Singapore and for regulatory approval in the US and Europe."

The new products await approval from the Singapore Food Agency.

Agronomics shares were up 3.6% to 5.75 pence each in London on Monday afternoon.

By Elijah Dale, Alliance News reporter

Comments and questions to newsroom@alliancenews.com