Agronomics is to invest US$1.5mln in to Ohayo Valley, a US company specialising in lab-grown wagyu steak - its first move into structured beef products.
Founded in 2020, Ohayo Valley originally focused on cultivated Wagyu ribeye steak, but has now expanded to other beef products.
Wagyu is a highly-prized and very expensive form of beef sourced from Japan, with cattle grown slowly to produce a super marbling effect that gives it an exceptional flavour according to gourmets.
The beef can cost up to £150 per kilo for prime cuts.
Oyaho is led by Dr Jess Krieger, who has twenty years of experience in the cultivated meat sector, said Agronomics, including as chief scientific officer for Artemys Foods where she led the development of its burger prototype.
Jim Mellon, Agronomics co-founder, said he was thrilled to be supporting Ohayo Valley and in particular working with Krieger, to develop and commercialise their cultivated wagyu ribeye steak.
Krieger added Oyaho and Agronomics shared a mutual goal to create a sustainable and secure food system in the era of the anthropocene.
“The challenges facing human civilization are massive, but so are the opportunities to redesign entire industries to optimize efficiency. Consequently, we are rapidly approaching a new agricultural paradigm through radical innovation of animal products.
“The cultivated meat industry provides a future where the traditions, culture, and community that are essential to our identities are preserved, while simultaneously creating a more sustainable and ethical food system.”
Agronomics‘ investment will be in the form of a Simple Agreement for Future Equity or SAFE arrangement, which will convert into preferred shares in Oyaho Valley giving it an approximate 18.75% stake.
It will also have a seat on the board.