Member Info for nanopayments

As well as providing a massive cash injection, this capital would mean no equity dilution and presumably no repayment. Couldn't come at a better time for cash-straapped Agronomics. DoD procurement contracts, would add stable, high-margin income and the size of the Richmond plant would go from a total capacity of 600,000 litres to 4 million.We've used the term before, but this would definitely be a game-changer for Liberation Bio and Agronomics. You never know with this stock, but, if confirmed, I don't see how it wouldn't trigger a major move higher.

The House of Representatives passed a modified version of the FY 2026 NDAA yesterday. The Senate is expected to vote on this final version imminently—potentially today or tomorrow—to meet year-end deadlines and avoid shutdown risks. The FY 2026 NDAA includes 17 dedicated provisions on emerging biotechnology, marking a major expansion of DoD's role in the sector. This is highlighted by the National Security Commission on Emerging Biotechnology (NSCEB) as a "breakthrough" for national security applications. DBIMP Phase II funding allocations of $100M per biomanufacturing project are expected in about 6 months. I'm optimistic Liberation Bioindustries is going to get the additional $100M in funding to expand the Richmond plant with the US Department of Defense as its priicipal customer. Hat tip to DJ@deucejaxon on Twitter/X.

This JV looks like a good move by All G. The article says Agronomics invested in their convertible. I thought there was no more cash on the balance sheet for new investments after SuperMeat.

“Armor Protéines is owned by Savencia, which is one of the top three global producers of bovine lactoferrin. Demand exceeds supply so we can immediately help fill the pipeline. They already have an established market and customers who want to buy more of it in applications where we already have approval in China such as supplements, personal care and so on.”

He added: “Armor Protéines has a vast distribution network, a lot of credibility, and a lot of in house capability, so we see this as a means of getting to significant revenues very fast.”

https://agfundernews.com/all-g-raises-6-6m-forms-jv-with-armor-proteines-to-scale-human-and-bovine-lactoferrin

So much for the promise not to issue new shares below the NAV: https://www.londonstockexchange.com/news-article/ANIC/agronomics-invests-us-2-million-in-supermeat/17338847

"but as it was so close to the end of the NAV calculation it's all you can report, it would open up legal ramifications if you reported anything else imo."

Yes, perhaps they are just being overly conservative, but my argument is that as of 30/09 the present value of CFG, which is just the discounted value of all future cashflows, got a big boost that should have been reflected in the NAV as of that date. For a private company that hasn't generated those cashflows yet, that calculation is very difficult, so the prudent thing is probably just to record the change when it happens on their next capital raise. The NAV aside, I'm really surpised the stock hasn't risen more on this event. I agree with JM that it's a "game-changer". So I'm wondering what events WILL actually move the needle. Probably nothing until one of the big holdings announces profitability, or even an IPO.

I'm surprised that they only reported a 1.7% increase in the NAV. CFG acquired Algal Omega 3's assets on 30/09, so in the 3rd quarter. Under IFRS, the price of the most recent funding round, but also a discounted cashflow/milestone approach is used. For CFG, this acquisition removed a huge capex need/risk, shortened time-to-market and will significantly reduce their cost of capital when they proceed with their Series A round next year. They are supposed to discount future cahsflow to the present, so I don't buy the argument that the effects of the acquisition haven't had an impact yet. Jim Mellon considers this a "game-changer for the industry", clearly it isn't a "game-changer" for the NAV. I suppose we should be happy that there won't be a performance fee payment to Shellbay, but that hit is coming and I would have prefered to not have the impression they are playing loose with the accounting rules.

I agree that the economic argument will be much more powerful as a selling point than the environmental one. We now have several data points in eggs and other proteins to suggest that prices have fallen and can be expected to fall further. This is no longer a distant point in the future, it's now. He states that for some customers they are already at or below price parity. So, how much of the $270B egg market are PF egg companies going to win when the price is below parity and customers don't have to worry about supply disruptions? “We are currently primarily focused on OvoPro to go after the $270B egg market,” says Elizondo.

https://www.greenqueen.com.hk/the-every-company-precision-fermentation-egg-protein-funding-walmart/

Fantastic to see they have a product rolling out at Wallmart! I wonder who their US manufacturing partner is :)

“EVERY has crossed the line from promise to proof,” said Martin Davalos at McWin Capital Partners. “They’re not talking about proof-of-concept pilots here; they’re selling metric tons of product at scale to some of the biggest food companies on the planet.”

“It’s not the vegan angle, it’s not the animal-free angle, but supply chain stability and consistency,” said Elizondo. “These last few avian flu outbreaks have really woken up a lot of the companies to say, ‘Hey, we really need to have something in place that works.’ And while other egg replacers work in some specific applications, they don’t really function the way that egg proteins do.”

As for pricing, he said, “Some of our customers are actually saving money using our protein. For some of them, it’s more or less at price parity, and then for some, there’s a premium they’re willing to pay for peace of mind. We’re not really competing with powdered egg, we’ve primarily been getting traction from companies where we can deliver the functionality of liquid eggs in a powdered format.”

‘The green light from major global food companies’

As for unit economics, he said, “EVERY now has a very clear path to profitability; we’ve been manufacturing for some time making metric tons of product for customers who have now integrated it into their supply chains. It’s now in [an undisclosed product rolling out nationwide at] Walmart and we are getting the green light from major global food companies.”

https://agfundernews.com/the-every-co-raises-55m-to-scale-egg-proteins-via-fermentation-crosses-line-from-promise-to-proof-says-investor

@dom I'm obviously a big fan, and although the upside might be much higher with ANIC, so is the risk. Tesla is a more diversified investment and is at a later stage of development, although the big opportunities (humanoids and robotaxis/robotrucks) are still ahead. The percentage allocation is a difficult question. Ideally enough so that if some of the portfolio companies become big it will change your lifestyle, but not that much so that it will cause material financial harm if things don't work out. Everyone has a different risk tolerance and age. The younger you are the more I'd have in ANIC.

My individual stock porfolio is 5% ANIC, 95% TSLA. I think we are in a very unusual and possibly fortunate period in economic history. It looks to me that all of the world's biggest addressable markets could be disrupted over the next 10-15 years. I'm talking, labour, transport, energy and food. Jim Mellon said in a recent interview that the market he's most excited about is humanoid robots and I agree. Labour is by far the largest addressable market, but autonomous cars and trucks will also change how we move people and goods and solar and batteries will become the predominant forms of energy generation and storage. I think Tesla has a good shot at being a dominant player in most, if not all these sectors. We also know about the potential for precision fermentation and cell agritech to disrupt agriculture. So are we going to see both another Industrial AND Agricultural Revolution happen in the next couple of decades? Tony Seba's work at RethinkX is worth checking out.

My cost basis is 8.73p. Like a few others here, I didn't add enough in the 4s. Meanwhile, more good news for Solar Foods. This probably won't generate a lot of revenue, but its good marketing: https://solarfoods.com/solar-foods-to-develop-solein-production-technology-for-testing-onboard-the-international-space-station/?utm_medium=email&_hsenc=p2ANqtz-_5YTMDcVD4lggHJ01i0uGW5ssDlTwmK02eCri4c2puAbIMy3-bESlLc5sLRQQ9zxLRK8u2xn8VOj1aB5CRA1vwseIX-et2Spv0v7YeHa3fzCc5wvE&_hsmi=388098135&utm_content=388098135&utm_source=hs_email

Yes, of course. Still that's 35% of the market cap, for just two of the porfolio companies. I'm sure Jim Mellon isn't happy about this legal battle, but I doubt there's much he can do. Don't think he's a member of the board of either company. I doubt this is going to be the last IP legal battle were going to see.

So let me get this straight. A merger between Onego Bio and the Every company was being valued at $400m or £305m. We own 16% of Onego and 2% of Every, so lets just assume they are about the same size and call that 18% of the combined company, so that stake would be worth £55m, and the market cap of the whole of ANIC is currently £79m. What a joke!

https://agfundernews.com/the-every-co-and-onego-bio-eyed-400m-merger-before-ip-talks-went-south-court-docs-reveal

It's 70% coffee beans to 30% beanless. I'm guessing they played around with the proportions to produce something that's fairly close to the taste of the real thing. Beyond that, what impresses me about Solein is its diversity. It's replaced egg yolk in mayonnaise, dairy (partly or wholly) in ice cream sandwiches and creamer and has also been used in baked goods and protein shakes.

Https://solarfoods.com/the-japanese-food-giant-ajinomoto-launches-coffee-drink-made-with-solein/

"Abu Dhabi is doubling down on its promise to boost food security through future-friendly food, launching a new strategic initiative to develop a regulatory framework for novel proteins like cultivated meat and animal-free dairy.

The endeavour was born out of a collaboration between the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), the Quality and Conformity Council (QCC), and the Abu Dhabi Investment Office (ADIO).

The move aims to position the Emirati capital as a global leader in food innovation, reducing approval timelines by six to nine months and accelerating market entry for novel foods.

It comes just a day after ADIO teamed up with Vivici and The Every Company to explore the establishment of a four-million-litre precision fermentation facility. The partnership was also said to support the creation of a regulatory pathway for these animal-free proteins."

https://www.greenqueen.com.hk/abu-dhabi-novel-food-regulatory-approval-framework-lab-grown-meat/

This is just the latest in a long list of Motley Food, all of which have been devoid of detail and been variations on a clickbait headline about how this stock could make you a millionaire, so I highly doubt this is the reason for today's jump. Anyone putting the pieces together can see that there is a big fermentation hub being planned in Abu Dhabi, partly funded by New Agrarian that is going to have a big positive impact on many of our portfolio companies, especially our largest holding.

Looks like Abu Dhabi will be building a cluster of precision fermentation facilities. They also announced an initiative with Wusoom holding, owned by private equity firm BlueFive Capital: https://www.zawya.com/en/press-release/companies-news/abu-dhabi-investment-office-partners-with-wusoom-to-advance-investment-in-protein-fermentation-projects-mn35h6oi

All these recent announcements were made at the Global Food Week conference. Good to see Jim Mellon presenting and Philip Boigner as part of a panel discussion: "Keynote - The Era of Future Foods

A quiet revolution is reshaping how we make food, driven by science, ethics, and necessity. Precision fermentation, cellular agriculture, and hybrid proteins are no longer theoretical; they are entering markets as costs fall, and approvals accelerate. Recent breakthroughs in serum-free growth media, scaffold technologies, and microbial engineering are driving down production costs and redefining how we create protein, while reducing emissions and land use. This keynote explores the forces that will define the next five years - science, investment, regulation, and shifting consumer demand."

https://www.globalfoodweek.ae/en/agenda/palt

In the words of Etan Bendheim, co-founder of Lib Bio in Abu Dhabi: https://x.com/AGWAABUDHABI/status/1981321783761395749

Lib Bio announced its strategic partnership with NEOM to build the Saudi plant on 14/04. Anic's share price was 6p at the time. It subsequently rallied to 9.20p mid July. Now, that wasn't the only news we got at that time, but I'd certainly say it was the most important. I think this deal (and the one with NEOM) is going to make a big difference to Lib Bio and should also boost ANIC in the process.