Agronomics, the London-listed company focused on clean food, has revealed its portfolio company SuperMeat is set to focus on commercialising the production of premium-quality cultivated chicken in Europe after raising US$ 3.5 million.
In March 2024, SuperMeat released a life-cycle analysis, conducted by CE Delft, which estimated that its cultivated chicken could produce roughly 50% fewer carbon emissions than conventionally farmed chicken.
The company also recently announced a major cost-efficiency breakthrough: the ability to produce 100% cultivated chicken (85% muscle, 15% fat) at approximately US$11.79 per pound at scale, aligning cost with premium pasture-raised chicken in the US.
The new funding has taken place in the form of the issue of a Simple Agreement for Future Equity (a ‘SAFE’), of which Agronomics will invest US$ 2 million in the form of US$ 0.75 million in cash and US$ 1.25 million in new Agronomics shares. This latest investment increases Agronomics’ total funding in SuperMeat to £9.4 million.
Jim Mellon, executive chair of Agronomics said: "We are proud to further increase our investment in SuperMeat and its team. As global demand for protein continues to rise, it is essential to meet this demand sustainably, reducing the environmental and health impacts associated with industrial agriculture. Companies such as SuperMeat and its partners are delivering the science, technology, and commercial readiness necessary to drive meaningful change.
He added: “Its progress toward industrial-scale cultivated meat represents not only a compelling financial opportunity but also a strategic shift toward a cleaner, more resilient, and technologically advanced future for food.”
Ido Savir, co-founder and CEO of SuperMeat, said: "We’re honoured by Agronomics’ continued support and confidence in our work. Over the past year we have made substantial advancements across our production platform, for the first time, making cultivated chicken production commercially viable, and are now focused on translating these achievements into commercial launch.
“This investment supports our progress toward bringing cultivated chicken to market with partners who understand how significant this category can become as demand and expectations evolve.”
