Agronomics Limited Announces Liberation Labs Closes US$ 50.5 million Fundraise
Liberation Labs has successfully closed a US$ 50.5 million convertible note round, combining US$ 31.5 million in new capital with US$ 19 million of insider bridge notes from 2024. The funding, supported by NEOM Investment Fund, Siddhi Capital, and Meach Cove Capital, will facilitate the completion of their first biomanufacturing plant in Richmond, Indiana.
Agronomics has committed US$ 7.4 million to the round and maintains a 37.7% undiluted equity stake. The Richmond facility, which broke ground in June 2023, will feature 600,000 litres of fermentation capacity and is expected to be completed by year-end. The facility has secured non-binding Letters of Intent representing over 200% of its available capacity for the first 5 years of operations.
The total capital raised, including public sector awards and loan guarantees, amounts to US$ 125.5 million. Liberation Labs anticipates breaking even in its first year of operation, addressing the critical bottleneck in fermentation capacity for the industrial biotechnology sector.
Liberation Labs ha concluso con successo un round di note convertibili da 50,5 milioni di dollari USA, combinando 31,5 milioni di dollari di nuovo capitale con 19 milioni di dollari di note bridge interne dal 2024. Il finanziamento, supportato da NEOM Investment Fund, Siddhi Capital e Meach Cove Capital, faciliterà il completamento del loro primo impianto di biomanufacturing a Richmond, Indiana.
Agronomics ha impegnato 7,4 milioni di dollari nel round e mantiene una partecipazione azionaria non diluita del 37,7%. L'impianto di Richmond, i cui lavori sono iniziati a giugno 2023, avrà una capacità di fermentazione di 600.000 litri ed è previsto che venga completato entro la fine dell'anno. La struttura ha ottenuto lettere di intenti non vincolanti che rappresentano oltre il 200% della sua capacità disponibile per i primi 5 anni di attività.
Il capitale totale raccolto, inclusi premi del settore pubblico e garanzie sui prestiti, ammonta a 125,5 milioni di dollari USA. Liberation Labs prevede di raggiungere il pareggio nel suo primo anno di attività, affrontando il critico collo di bottiglia nella capacità di fermentazione per il settore della biotecnologia industriale.
Liberation Labs ha cerrado con éxito una ronda de notas convertibles por 50,5 millones de dólares estadounidenses, combinando 31,5 millones de dólares en nuevo capital con 19 millones de dólares de notas puente internas de 2024. La financiación, respaldada por NEOM Investment Fund, Siddhi Capital y Meach Cove Capital, facilitará la finalización de su primera planta de biomanufactura en Richmond, Indiana.
Agronomics ha comprometido 7,4 millones de dólares en la ronda y mantiene una participación accionaria no diluida del 37,7%. La instalación de Richmond, que inició su construcción en junio de 2023, contará con una capacidad de fermentación de 600,000 litros y se espera que se complete a finales de año. La instalación ha asegurado cartas de intención no vinculantes que representan más del 200% de su capacidad disponible durante los primeros 5 años de operaciones.
El capital total recaudado, incluidos premios del sector público y garantías de préstamos, asciende a 125,5 millones de dólares estadounidenses. Liberation Labs anticipa alcanzar el punto de equilibrio en su primer año de operación, abordando el crítico cuello de botella en la capacidad de fermentación para el sector de la biotecnología industrial.
리베레이션 랩스(Liberation Labs)는 5,050만 달러의 전환사채 라운드를 성공적으로 마감했으며, 여기에는 3,150만 달러의 새로운 자본과 1,900만 달러의 내부 다리 노트가 포함됩니다. 이 자금은 NEOM 투자 기금, 시디 캐피털(Siddhi Capital), 미치 코브 캐피털(Meach Cove Capital)의 지원을 받아 인디애나주 리치몬드에 있는 첫 번째 바이오 제조 공장의 완공을 촉진할 것입니다.
아그로노믹스(Agronomics)는 이 라운드에 740만 달러를 투자하고 있으며, 37.7%의 비희석 주식 지분을 유지하고 있습니다. 2023년 6월에 착공한 리치몬드 시설은 60만 리터의 발효 용량을 갖추고 있으며, 연말까지 완공될 예정입니다. 이 시설은 운영 초기 5년 동안 사용 가능한 용량의 200% 이상을 나타내는 비구속적인 의향서(Letters of Intent)를 확보했습니다.
총 조달 자본은 공공 부문 보상 및 대출 보증을 포함해 1억 2,550만 달러에 달합니다. 리베레이션 랩스는 첫 해에 손익 분기점에 도달할 것으로 예상하며, 산업 생명 공학 분야의 발효 용량 부족 문제를 해결하려고 합니다.
Liberation Labs a clôturé avec succès un tour de billets convertibles de 50,5 millions de dollars américains, combinant 31,5 millions de dollars de nouveau capital et 19 millions de dollars de billets de pont internes de 2024. Ce financement, soutenu par le NEOM Investment Fund, Siddhi Capital et Meach Cove Capital, facilitera l'achèvement de leur première usine de biomaniement à Richmond, Indiana.
Agronomics a engagé 7,4 millions de dollars dans ce tour et conserve une participation non diluée de 37,7%. L'installation de Richmond, dont la construction a commencé en juin 2023, disposera d'une capacité de fermentation de 600 000 litres et devrait être achevée d'ici la fin de l'année. L'installation a sécurisé des lettres d'intention non contraignantes représentant plus de 200 % de sa capacité disponible pour les 5 premières années d'opérations.
Le capital total levé, y compris les subventions du secteur public et les garanties de prêts, s'élève à 125,5 millions de dollars américains. Liberation Labs prévoit d'être rentables au cours de sa première année d'exploitation, abordant le goulot d'étranglement critique dans la capacité de fermentation pour le secteur de la biotechnologie industrielle.
Liberation Labs hat erfolgreich eine Wandelanleihe-Runde über 50,5 Millionen US-Dollar abgeschlossen, die 31,5 Millionen US-Dollar an neuem Kapital mit 19 Millionen US-Dollar an internen Brückenanleihen aus 2024 kombiniert. Die Finanzierung, unterstützt vom NEOM Investment Fund, Siddhi Capital und Meach Cove Capital, wird den Abschluss ihres ersten Bioproduktionswerks in Richmond, Indiana, ermöglichen.
Agronomics hat 7,4 Millionen US-Dollar in die Runde investiert und hält einen nicht verwässerten Anteil von 37,7%. Die Anlage in Richmond, deren Bau im Juni 2023 begann, wird über eine Fermentationskapazität von 600.000 Litern verfügen und soll bis Ende des Jahres fertiggestellt werden. Die Anlage hat nicht verbindliche Absichtserklärungen gesichert, die mehr als 200% ihrer verfügbaren Kapazität für die ersten 5 Betriebsjahre repräsentieren.
Das insgesamt aufgebrachte Kapital, einschließlich öffentlicher Zuschüsse und Kreditsicherheiten, beläuft sich auf 125,5 Millionen US-Dollar. Liberation Labs erwartet, im ersten Betriebsjahr rentabel zu werden und somit das kritische Engpassproblem in der Fermentationskapazität für den Bereich der industriellen Biotechnologie anzugehen.
- Secured US$ 50.5 million in convertible note funding
- Non-binding LOIs represent over 200% of facility capacity for first 5 years
- Received US$ 25 million USDA loan guarantee
- Expected to break even in first year of operation
- Facility construction on track for completion by year-end
- Currently generating no revenue
- Operating costs of US$ 0.4 million per month
- LOIs are non-binding, presenting execution risk
DOUGLAS, ISLE OF MAN / ACCESS Newswire / January 30, 2025 / Agronomics (LSE:ANIC), a leading listed company in the field of clean food, is delighted to announce that its portfolio company, Liberation Labs Holdings Inc ("Liberation Labs") has closed a convertible note with US
Combined with other public sector awards and loan guarantees, Liberation Labs has raised a total of US
Liberation Labs aims to establish itself as the global fabrication partner for the industrial biotechnology sector through the design, construction and operation of Bio3, its purpose-built biomanufacturing platform. This platform will seek to address the critical bottleneck in capacity which fermentation companies are currently facing. Liberation Labs broke ground on its first facility in June 2023 which, when complete, will have 600,000 litres of fermentation capacity. The project continues to make significant progress with its build programme and expects to have the facility complete by the end of this calendar year.
This site, located in Richmond, Indiana, was selected having considered a number of key metrics such as access to sugar inputs, utility rates, cost and availability of labour, regulatory environment, and availability of government incentives. Additionally, the site has the potential to be expanded by an additional 4 million litres of capacity in the future. Since the last update, several large companies have signed Letters of Intent ("LOI") for the capacity which at this stage, are non-binding. In total, Liberation Labs has LOIs representing over
Last year, Liberation Labs was also awarded a US
Agronomics continues to have high conviction in the management team, business model and investment opportunity. Given the shortage of fit-for-purpose biomanufacturing capacity, along with the clear demand for diversified and secure supply chains from governments and large corporations committing long-term contracts, Liberation Labs expects to breakeven in the first year of operation.
The total investment made by Agronomics in Liberation Labs is US
Since the US
Jim Mellon, Executive Chair of Agronomics, said:
"Liberation Labs is developing state-of-the-art fermentation infrastructure to transform the world's existing fermentation capacity. This will help build a future where precision fermentation proteins reach the industrial scale needed to meet growing demand in the US and across the world. This novel approach has never previously been attempted. The completion of this significant funding raise showcases the consistent and growing demand from startups, large multinational corporations, and governments alike and is testament to the strength of the team led by Mark Warner and their successful execution of the strategy."
About Liberation Labs
Liberation Labs is commercializing precision fermentation, intending to develop a global network of purpose-built manufacturing facilities that enable the next wave of biotechnology advancements to produce bio-based consumer products at scale. They combine modern technology with fit-for-purpose design to bring reliable and cost-effective solutions that meet customer demand across the world. More information is available at www.liberationlabs.com.
About Agronomics
Agronomics is a leading London-listed company focussing on investment opportunities within the field of clean food. The Company has established a portfolio of over 20 companies in this rapidly advancing sector. It seeks to invest in companies owning technologies with defensible intellectual property that offer new ways of producing food and materials with a focus on products historically derived 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 decouple supply chains from the environment and animals and improve food security for the world's expanding population. A full list of Agronomics' portfolio companies is available at https://agronomics.im/.
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SOURCE: Agronomics Limited
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FAQ
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