Member Info for nanopayments

"The new shares issued to BlueNalu shall be subject to agreed lock-in and orderly market arrangements for a year from Admission. In particular, BlueNalu shall be restricted in relation to its shareholding from a) releasing more than 1/12th of the Agronomics shares per calendar month, b) trading more than 10% of the prior day's volume, c) trading below 95% opening price, and d) appointing a third-party broker without first giving a right of first refusal to the Company's appointed broker(s) to sell their shares. The lock-in restrictions will not apply in certain circumstances such as an offer for the Company."

@StopAnimalAgri Good point. I still find it interesting that he would like to by more ANIC at these levels, but is prevented from doing so because of insider information. What does that imply? Seems to me that he wants to avoid legal problems if/when the share price rises based on undisclosed news he is privy to.

I was surprised that he spoke so openly about a CFG IPO this year. From the sounds of things, investment banks are chomping at the bit to get that business. This would be ANIC's first real opportunity for a partial exit (I think Solar Foods was too illiquid.) Will they take it, even partially, or do they think there is so much potential, that they'd rather hang on to all their shares? What will an IPO do to the price of ANIC? Lots of exciting and unanswered questions!

$10million :-)

Jim Mellon keeps asking his lawyers whether he buy more shares of ANIC and the answer comes back "no" because he has insider knowledge. He has however put $10 into New Agrarian in the last couple of months.

Chris on the advfn board posted this link to an interview with Jim Mellon. This is an absolute MUST listen. JM thinks CleanFoodGroup itself is worth as much as the market cap of ANIC. He also thinks it will IPO this year. One disappointment for me is that Lib Bio will only begin production mid year: https://open.spotify.com/episode/5LGiqacQZTYj7CdbKyU73p

@kuentai I agree that it seems like a fair trade. This is now a clear strategy. They know that all of these companies will be looking to liquidate ANIC stock asap. Some of the deals have a lock-up which limits how much, when and at what discount to the market price, shares can be sold. Does anyone really think Jim Mellon is stupid enough or doesn't care about the potential for this selling to crash the share price? Highly unlikely. I think this is an indication that he is confident there will be countervailing upward pressure on the share price that will prevent a large drop. My guess is that this buying pressure will come from tangible progress at the portfolio companies. Regulatory approval, yes, but more than that. Product launches and revenue. This is what we have been waiting for these last few years. It will finally happen this year.

The other important element here is that All G uses Lib Bio as its US manufacturer of bovine lactoferrin, and presumably this will extend to the human version for infant formula. A Q1 26 launch in the US would also be a big positive for Lib Bio. Good synergy between two of our portfolio companies.

Soon is this quarter. $90B is a big market and All G has a superior product:

“An Australian biotech firm says it has successfully used precision fermentation to reproduce the most vital proteins in human breast milk, setting the stage to revolutionise the $90bn global infant formula market...

We’re not replicating exactly 100 per cent (of human breast milk) because there’s a long tail of sugars and this and that. But to put it in simple terms, if breast milk is 100 per cent of the nutritional input, then the best infant formula from a Danone is at the best 10 percent; we can get to 80 or 90 percent so it is transformationally better,” Mr Pacas said.

"In July, All G announced plans to launch lactoferrin in the US and China during Q1 2026."

Q1 2026 in now!

Agronomics continues to dilute shareholders, but by issuing new shares at the 30/9/25 NAV price of 14.65p rather than the spot price. I like All G. Their first commercial product will be lactoferrin (and expensive and highly-sought supplement) first bovine, then human. This is the third investment they've made by issuing at the NAV. Let's hope they are confident that there will be upward pressure on the share price, because there are going to be a lot of new sellers as these companies are going to want to hold onto ANIC for as little time as possible:

"Agronomics invests AU$3 million in All G, Issue of Equity and TVR

Agronomics (LSE: ANIC) announces an additional investment of AU$3 million in its portfolio company, All G Co Holdings Pty Limited ("All G"), an Australian biotech specialising in precision fermentation of human and bovine milk proteins, notably lactoferrin. This technology enables the production of lactoferrin without the use of animals, supporting advancements in nutrition, sustainability, and health.

All G's lactoferrin is cost-effective and environmentally sustainable, suitable for applications in infant and clinical nutrition, functional foods, skincare, and animal nutrition. The company has achieved significant milestones and in November 2024, All G became the first company globally to receive regulatory clearance for the sale of recombinant bovine lactoferrin in China. In January 2025, the company achieved self-affirmed Generally Recognised as Safe status for its animal free animal‑free bovine lactoferrin in the US. In July, All G announced plans to launch lactoferrin in the US and China during Q1 2026.

Nice to see a bit of good news: https://agfundernews.com/mosa-meat-raises-17-6m-prioritizes-fundamentals-over-speed

For me, this is a big setback. Meatable had a lot of credibility in the cell agriculture space. Co-founder Daan Luining was part of the team that produced the first burger patty in 2013. Meatly have been looking to raise capital for a while now, and the absence of any news is a concern. So the risk is that most, or perhaps all, of the other cell agriculture companies -Meatly, SuperMeat, BlueNalu, Mosa Meat, California Cultured and CellX meet a similar fate. Our stakes in the precision fermentation companies are probably worth more than the current market cap, but the upside potential has just been severely capped.

"During this year, Solar Foods has signed Memorandum of Understandings and Letters of Intent with four international customers regarding a commercialisation plan for a total annual production of 6,500–7,650 tons of Solein. Should these agreements lead to a binding agreement, the total volume commitment would correspond to approximately 100–120% of the full 6.4 kiloton production capacity of Factory 02.

In addition to Factory 02, Solar Foods is planning an international network of Solein production facilities around the world. The company sees opportunities for future factory projects in the Nordics, the United States, the Middle East, and Southeast Asia, among other regions."

https://solarfoods.com/solar-foods-has-chosen-lappeenranta-as-the-location-for-factory-02/?utm_medium=email&_hsenc=p2ANqtz-_Mxgu1fmU0t1GHPWvPgn-wUfwZsN_T9FFMx5ZOKeQ44EJVqnJ_sxQc_nScqk-70_xPRGDFrilbx0QkC8IN48gB7sRfk2RqJQeE1D1nBB6QUwMINZI&_hsmi=394647564&utm_content=394647564&utm_source=hs_email

The other interesting quote from the article relates, once again to CFG. The factory they bought in Liverpool will give them immediate access to 1 million litres of fermentation capacity, which is already the world's largest. They plan to expand that by 7 times in the next three years:

"New Agrarian operates factories in the UK and US, with more planned. “The factory that we have in Liverpool, next year will produce the equivalent of 7 per cent of the UK palm oil market,” he said. Output will rise to “700 million litres a year” within three years.

All output is pre-sold under long-term agreements, reducing investor risk, Mr Mellon said. “It’s not just building a factory and hoping that someone comes along and buys it.”

Clean-food infrastructure is also being pitched as a high-return asset class. He said infrastructure investment “would typically make seven to 8 per cent per annum”.

“We think that these projects can make 20 per cent per annum without using leverage.”

Major food companies are paying attention, he added. “Nestlé, Unilever, Kellogg’s, they can see they can’t get enough food from conventional sources,” he said, citing deforestation pressures and sustainability limits.

Food insecurity globally is rising, and this biotech can provide affordable food for developing countries, said Mr Mellon. “This food is cheaper than the stuff that you buy in the supermarket today, because the cost of input is less than that of conventional farming.”

“ Billionaire

Mellon eyes food float

Emma Powell

The serial British investor Jim Mellon is pushing to launch a biotech company producing sustainable food ingredients on London's junior market next year.

Clean Food Group, based in Bath, recently purchased a 12-acre manufacturing site in Liverpool to start production of yeast-grown alternatives to palm oil and fats.

Mellon, who has backed a series of companies on London's junior market and owns just under 40 per cent of the company, said he was hoping to take Clean Food Group public on London's Aim next year, in what would be a boost for the struggling market. "I'd be disappointed if it didn't go public at a valuation of £100 to £200 million," he said.

However, the company would "have to show that they ... have sufficient contracts to make sales".

https://uk.advfn.com/stock-market/london/agronomics-ANIC/share-chat

New Agrarian invests in the same companies as Agronomics. Those companies need more capital to scale operations and bring product to market. That will make them more valuable, which in turn will increase the value of Agronomics.

Jim Mellon mentions in a different article in the Times that they plan to IPO CleanFoodGroup at the end of next year for between £100m and £200m. CFG will need to do a Series B before that, which will dilute ANIC's stake. That said, what impact will an IPO in the range have on ANIC's stock price?

Https://www.msn.com/en-ae/lifestyle/other/no-imports-no-farms-billionaire-investor-jim-mellon-plans-biotech-clean-food-factories-in-uae/ar-AA1SiQTu?cvid=693e88f92c2b43a68cd983b26d98fd6c&ocid=hpmsn&apiversion=v2&domshim=1&noservercache=1&noservertelemetry=1&batchservertelemetry=1&renderwebcomponents=1&wcseo=1

" any valuation metrics other than cost and quality (primarily cost) are almost meaningless"

The original article was about CleanFoodGroup gaining market share. I'm sure you are correct when you say cost and quality is all that counts, so what assumptions can we make about cost specifically when it comes to palm oil? Using traditional methods can boost yields and lower costs by breeding new varieties of palm tree, but that is a slow process. Trees take 3 years to bear their first fruit. CFG has just bought a 1 million-litre site, making it the world’s largest manufacturer of yeast fermentation-derived sustainable oils and fats. It has also validitated commercial-scale production at the site. To quote from their website: "This achievement not only proves the scalability of CFG’s proprietary technology but also demonstrates the ability to integrate seamlessly into existing facilities—avoiding the need for costly, time-intensive new builds." I have no doubt that costs will decline with commercial-scale production as economies of scale kick in, and they will do so much faster than can be achieved using traditional agricultural methods. That said, I have no idea whether their (or Jim Mellon's) estimate of 7% UK market share by the end of next year is accurate, but if they can succeffuly raise new capital, it doesn't really matter to me whether they achieve that at the end of 2026 or 2027. We have seen this happen it countless other industries, where a new technology with better unit economics comes along and disrupts existing methods. We are no longer at the stage of promises here, false or otherwise, we are at the stage where a product is about to be commercially available.

Erratum. Grok mistakedly assumed only 1% ownership of CFG. Using the correct stake (30.59%) gives a total company valuation of £22.6m. That means CFG is valued at 0.63X Grok's estimate of the value of 7% of palm oil sold in the UK.

Agronomics NAV probably understates the value of Clean Food Group, but using its £6.9m stake would give a total company valuation of £143.75m for CFG. I asked Grok what 7% of the UK market for palm oil represents:

"UK palm oil consumption: ≈ 636,000 tonnes

Average refined palm oil price delivered UK: ≈ £780–810 per tonne (2025 average so far)

Total wholesale market value: 636,000 × £795 ≈ £506 million

7% = 44,500 tonnes × £795 ≈ £35.4 million

Assuming those numbers are accurate, Clean Food Group is currently valued at just over 4X 2026 estimates revenue from replacing palm oil in the UK.

Https://www.greenqueen.com.hk/department-of-defense-biomanufacturing-dbimp-awards-grants/