(Alliance News) - Agronomics Ltd has invested USD99,999 into a US company which makes plant-based chicken nuggets, it said on Wednesday.
The money has been put into Seattle Food Tech Inc, which trades as Rebellyous Foods. The investment will take Agronomics's stake to 1.2% from 1.0%.
Since Isle of Man-based Agronomics first invested into Rebellyous, the latter has moved to a new 21,000 square foot headquarters in West Seattle to scale-up production capacity.
Rebellyous has recently won a number of new deals to supply its plant-based chicken nuggets to the likes of schools and hospitals in the US, Agronomics added.
Shares in Agronomics were 8.2% lower on Wednesday at midday in London at 4.82 pence each.
By George Collard; georgecollard@alliancenews.com
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Agronomics (ANIC)