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....at which point my money is on them doing a quick raise of another few million.

Any guesses for how long this mania will last. I'm in danger of breaking even!

I think this is a big part of the share price problem that most of the portfolio companies have consistently overpromised and underdelivered. They now lack credibility.

So if the ban was reversed would that be bad news....?

I assume interest rates are relatively meaningless when the whole basis of the technology is speculative. Say I set up a company to mine pixie dust and I estimate my pixie mine will cost $1 billion and will be operational in 20 years. If you think pixie dust mining simply isn't viable then you will attach zero or little value. If interest rates plummet I don't think that changes your valuation as you are concerned that the pixie mine may be worthless irrespective of the cost to finance and the claimed returns.

No offense but you have to try to be more self critical and objective of your investments. The trade industry representitive is clearly going to give you the most upbeat interpretation of the facts but they have little more insight than you or I. The market thinks this sector stinks. Don't brush that aside because the sector marketing lobby says otherwise.

Losing 2 years over the course of a year seems like carelessness on the part of Blue Nalu

No

Well it now seems to be eggs www.greenqueen.com.hk/amp/formo-launch-lab-brewed-animal-free-eggs-late-2023-precision-fermentation-study-consumer-interest/

Anyone else surprised to learn that formo's 1st foray into the paying market looks like it'll be eggs? Maybe that's some niche German cheese.....but I think it's just eggs. Glad to see that they are focused on a core strategy which is well communicated.

Upside Foods announced today that they will open facility in Chicago capable of 30 million pounds of production per year. That's more like it.

Why don't you just email them and ask them? Email address is on their website: https://agronomics.im/contact-us/

Tell them you are in an interested shareholder (i.e. part owner).

About 50% of startups fail in the 1st 5 years across all sectors, and it's possible the rate in this sector will be (much?) higher. I don't see a problem with that, but like you I would appreciate it if ANIC were a bit more upfront about it. We should absolutely expect that most of these ventures will fail. We should also absolutely expect better communication from the board and better alignment of payouts to Shellbay with value to shareholders (ANIC owners) as there is currently more or less no correlation.

A lot of people on this board have defended Jim Mellon and say that his payouts our justified. Wake up and look where it is getting us.

Contact ANIC. (Respectfully) Demand better.

Does anyone know any particular reason why ANIC are not invested in Upside who seemed to be one of the front runners ever since I started following this sector. Did they just miss the boat or is there some other underlying reason. Doesn't really matter. Rising tide lifts all boats etc.

I re-read what I wrote. I think it's reasonably clear.

That's a slightly harsh and if you don't mind me saying, arrogant, assessment. If the product is good, price competitive and can be churned out in volume, it'll succeed. If it messes up on any of those points it'll fail. Whether or not you treat it with respect is irrelevant. Cargills, JBS and Nestle to name but 3 have invested at least as much as ANIC in this. Not huge sums given their turnover, but not an amount consistent with not viewing this as a threat / opportunity to their existing business. The claims made that this will meet 35% of global "meat" demand I concede are fairy tales, but you and I have zero knowledge of what product or technological development might prove transformational in say, 2030.

I'm not sure of your point. This is a report imagining 4 possible future scenarios of what the UK might look like by 2050. It is entirely guesswork.

My objection to the hydrogen investment is not because it's a nightmare gas - it is an incredibly important industrial gas required in vast quantities (and to earlier poster, as much as it may be the most abundant gas in the universe, it's not really in a readily accessible form - and the vast majority comes from steam reforming of methane). So I get the story of having a cleaner alternative to this, but per earlier post the market sees lots of hurdles to clean hydrogen technology and prices it accordingly. I bought HGEN for exposure to hydrogen - I wasn't particularly looking for it here. That's a whole new ball game of risk and both ANIC and HGEN trade at a considerable discount to NAV already. Will ANIC's latest investment therefore get a double discount?

Teacher: "Can someone answer the following question?"

Pupil:"Hydrogen"

.....................hydrogen is not necessarily the answer to every question.

I invested in Hydrogen One Capital Growth Trust at launch. Launch price = 100p, current NAV = about 100p, current share price =.....75p (not 100p) i.e. the market is sceptical of the hydrogen dream.

.....and yet the share price rose today anyway. Noise noise noise.

If you think non-meat alternative proteins are the future, then I wouldn't sell Cargills as they have invested comfortably more in a range of alternative proteins (including plant based and cultivated meat) than ANIC. This includes investments in the likes of Upside Foods etc.

Don't underestimate the incumbents. They have deep pockets to lobby for the status quo to be maintained whilst hedging their bets by investing in the alternatives. ANIC do not have unique insights into this market.