Member Info for nanopayments

For some reason, this has been reported by the LSE or Agronomics yet:

"DOUGLAS, ISLE OF MAN / ACCESSWIRE / November 16, 2023 / Agronomics

ANIC

, a leading listed company focused on the field of cellular agriculture, is pleased to announce that portfolio company Solar Foods Oy ("Solar Foods") has raised €8 million in a Series B financing round carried out through the Finnish-based investment organizer Springvest Oyj, with participation from existing investors including Happiness Capital. The financing from this Series B round will be used for continued building and ramping up production of their single cell protein SoleinTM...

Agronomics has invested, in aggregate, €6 million in Solar Foods, being a €3 million investment in Solar Foods Series A and €3 million in the form of a pre-Series B Convertible Promissory Note ("CPN"). Following the close of this Series B round, the CPN has converted into Series B shares. Agronomics now holds an equity stake in Solar Foods of 6.4% on a fully diluted basis. Subject to audit, Agronomics will now carry this position forward at a book value of €13.3 million, representing an IRR of 35% and a MOIC of 2.2x."

https://www.benzinga.com/pressreleases/23/11/ac35820667/agronomics-limited-announces-solar-foods-completes-eur8m-series-b-financing

I don't think this has been posted here: https://www.youtube.com/watch?v=F6LVWuekPcY

I remember back in the mid 1990s when the consensus view was that nobody was going to buy anything on the internet, a virtual guarantee of credit card fraud. 30 years later and I know almost no one who hasn't bought something on the internet. Meat and fish, produced using precision fermentation will be cheaper and healthier than that which we currently consume because it won't contain antibiotics or mercury. Why would there be "widespread resitance" to that?

Https://twitter.com/AgronomicsLtd/status/1667124520820375552?s=20"

Progress! Site prep has begun at the location of Liberation Labs flagship #biomanufacturing plant in Richmond, #Indiana, which will have a commercial-scale capacity of 600,000 liters of #precisionfermentation and associated DSP.

Stay tuned for the official #groundbreaking in a few weeks!"

Why bother if the technology can't scale :-)

I see negative comments by Ricardo San Martin, but the rest of the article is more nuanced. As Tony Seba has stated: "Cost curves are like gravity." and they march ineluctably lower. Why would anyone think this won't happen with the cost of producing protein using precision fermentation or cell cultures? How many times have we seen "experts" like Ricardo San Martin say "Moore's Law is about to end", or "We're going to run out of oil", or "Battery costs in EVs will never be competive with ICE"? For a different perspective:

https://www.rethinkx.com/food-and-agriculture

Hi yoxallc,

I don't really want to turn this into a Tesla discussion, but to briefly address your points, I'm highly sceptical about the future of hydrogen, and GM are betting more heavily on BEVs than hydrogen so Toyota is pretty much out on its own . In the US alone $1T will need to be spent to build out a charging infrastructure, something which alreadfy exists for electricity (most charging happens in homes). Did you see the degree to which the Biden administration is subsidising US battery production via the Inflation Reduction Act? Is there anything in the IRA to stimulate hydrogen deployment?Also, hydrogen cars work with electric motors, but they're much less efficient than battery EVs in terms , similar to ICE engines in fact .

"With battery-powered e-cars, only eight percent of the energy is lost during transport before the electricity is stored in the batteries of the vehicles. When the electrical energy used to drive the electric motor is converted, another 18 percent is lost. This gives the battery-operated electric car an efficiency level of between 70 to 80 percent, depending on the model.

With the hydrogen-powered electric car, the losses are significantly greater: 45 percent of the energy is already lost during the production of hydrogen through electrolysis. Of this remaining 55 percent of the original energy, another 55 percent is lost when hydrogen is converted into electricity in the vehicle. This means that the hydrogen-powered electric car only achieves an efficiency of between 25 to 35 percent, depending on the model. For the sake of completeness: when alternative fuels are burned, the efficiency is even worse: only 10 to 20 percent overall efficiency."

BEVs have now hit 10% of global car sales and have reached the vertical part of their "S" curve adoption. What are the sales numbers for hydrogen cars now and will they be able to displace BEV sales growth in the next 10 years? I see no evidence of that.

The Model Y was the highest selling vehicle gloablly in Q1, not just for EVs, but all cars. I think you are very much mistaken in your belief that German car makers are winning market share from Tesla.

BEV profit margins for 2022: Tesla 28%, Toyota -17%, GM -22%, Daimler -23%, BMW -35%, and Jim Mellon claims Tesla is going to go bankrupt, with almost no debt and $22B of cash on their balance sheet?

I'm long ANIC because I'm excited about the possibilities of precision fermentation, but I do worry about the investing acumen of Jim Mellon, despite his reputation. Case in point, in the interview he recommends buying Toyota and or GM and shorting Tesla. This reminds me of the value managers who shorted Amazon and bought Barnes and Noble, shorted Netflix and bought Blockbuster and thought Nokia and not Apple would continue to dominate the cell phone market.