Agronomics Limited Announces Bond Pet Foods Achieves Important Milestone

Bond Pet Foods Achieves Major Milestone For Sustainable Protein Production

DOUGLAS, ISLE OF MAN / ACCESSWIRE / February 6, 2024 / Agronomics limited (“Agronomics” or the “Company”) Agronomics (LON:ANIC), a leading listed company in cellular agriculture, is pleased to announce that its portfolio company Bond Pet Foods (“Bond”), the US-based company that produces animal proteins through precision fermentation, delivered two metric tons of animal protein to one of the most popular pet food suppliers in the US, Hill’s Pet Nutrition Inc (“Hill’s”) – a division of the Colgate-Palmolive Company.

This represents a major milestone towards Bond’s commercialization of its fermentation technology for pet food applications. The delivery scale will allow Hill’s to formulate a variety of test products at its Pet Nutrition Center in Topeka, Kansas, for testing and regulatory review. That data will be used for final ingredient analysis by the US Food and Drug Administration’s Center for Veterinary Medicine, as well as to prepare prototypes for market testing.

The commercial agreement reinforces a strong partnership between Bond and Hill’s after the companies first announced a joint venture in 2021 to develop a source of more sustainable animal protein to meet food needs of dogs and cats. In the US alone, 74 million dogs and 56 million cats in households currently consume large amounts of animal-based protein. As a result, a 2017 study published in the scientific journal PLUS One found that pets alone account for 30% of the carbon dioxide emissions associated with domestic meat consumption.

Agronomics holds 531,692 Series A Preferred Shares, representing an equity ownership of 1.85% in the Bond.

Rich Kelleman, Founder and CEO of Bond Pet Foods said:

“The production of two tonnes of product on a 45,000-litre scale is a major milestone in the Bond-Hill partnership. Hill’s commitment to expand our work together demonstrates the opportunity we collectively see in Bond ingredients for the future of the pet food industry.“

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Jim Mellon, Co-Founder and Executive Chair of Agronomics commented:

“The growing commercial partnership with Hill’s, one of America’s most popular pet food providers, demonstrates the rapid progress being made in bringing these products to market. The prototype and market testing is a in the final steps toward regulatory approval, and we await the results with anticipation. Many congratulations to Bond for its outstanding work thus far.”

About Agronomy
Agronomics is a leading listed alternative proteins company with a focus on cellular agriculture including precision fermentation and cultivated meat. The Company has established a portfolio of more than 20 companies in this rapidly developing sector. It aims to secure minority stakes in companies that own technologies with defensible intellectual property that offer new ways of producing food and materials with a focus on products obtained in history from animals. These technologies are driving a major disruption in agriculture, offering solutions to improve sustainability, as well as addressing human health, animal welfare and environmental damage. This disruption will separate supply chains from the environment and animals, as well as being fundamental to feeding the world’s growing population. A full list of Agronomic’s portfolio companies is available at https://agronomics.im/.

About Bond Pet Foods
Bond Pet Foods is a Boulder, Colorado-based company that uses biotechnology to create meat proteins that are nutritionally comparable to their conventional counterparts but without all the associated harmful materials — so people, pets , farm animals and the planet all win. Using some of the same processes used in craft production, Bond produces high-quality animal proteins through fermentation, harvesting them to better meet the nutritional requirements of companion animals. , and supplies ingredients to manufacturers for pet food, treat and supplement applications.

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SOURCE: Agronomics limited

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