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Agronomics Shares Gain Following $8m Investment in Fermentation Company

Sam Boughedda trader
Updated 4 Nov 2021

Cellular agriculture firm Agronomics (LON: ANIC) has seen its shares climb Thursday after it announced an $8 million investment in The EVERY Company.

EVERY is a precision fermentation company with a focus on the commercialisation of proteins traditionally derived from animals. EVERY was founded in 2014 by Arturo Elizondo.

Agronomics will take a 1.39% stake in EVERY — formerly Clara Foods. This equates to an estimated portfolio weighting based on the company's last reported Net Asset Value of 5.7%.  

Agronomics is investing as part of a minimum fundraise of $127.5 million undertaken by EVERY.

Jim Mellon, Non-executive Director of Agronomics, commented: “We are extremely pleased to become investors in EVERY, 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.”

Agronomics shares have risen over 2% to 29.5p following the announcement.

Should you invest in Agronomics shares?

Agronomics shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are ANIC shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies

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Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.