Agronomics invests $8 million in The Every Company

Agronomics, the leading listed company focused on the field of cellular agriculture, recently announced an $8 million investment in The EVERY Company (formerly Clara Foods Co.), for an equity stake on a fully diluted basis of 1.39%. This equates to an estimated portfolio weighting based on the Company’s last reported Net Asset Value of 5.7%.

This follows Agronomics’ recent participation in a Bridge Round for Solar Foods for €3 million.

Agronomics is investing as part of a minimum fundraise of $127.5 million undertaken by The EVERY Company. The EVERY Company is a leading precision fermentation company with a key focus on the commercialisation of proteins traditionally derived from animals.

The EVERY Company was founded in 2014 by Arturo Elizondo, with the mission to accelerate the transition to animal-free and more sustainable proteins and reduce factory farming practices.

Jim Mellon, Non-executive Director of Agronomics commented:”We are extremely pleased to become investors in The EVERY Company, a leader in the cellular agriculture field, with its world-class precision fermentation platform.

“This investment broadens Agronomics’ portfolio further into other major protein categories outside of meat and dairy. We are delighted to be working with Arturo to accelerate the commercialisation of animal-free egg proteins.”

In conjunction with this transaction, Agronomics said a new unquoted entity has been formed to accept funds from private equity investors seeking exposure to the field of cellular agriculture who are unable to invest in a public company. The new entity is called New Agrarian Co Ltd.

Agronomics believes that the establishment of New Agrarian is a positive development as the combined capital bases of the two entities will facilitate larger funding rounds and provide the ability to negotiate improved lead investor terms.

The New Agrarian Company Limited also participated in the financing for The Every Company on the same terms as Agronomics, with a $7million investment resulting in a fully diluted equity stake of 1.21%.