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, has delivered two metric tons of animal protein to one of the most popular pet food providers in the US, Hill’s Pet Nutrition Inc (“Hill’s”) – a division of the Colgate-Palmolive Company.
This represents a major milestone toward Bond commercialising its fermentation technology for pet food applications. The scale of the delivery will allow Hill’s to formulate a variety of test products at its Pet Nutrition Center in Topeka, Kansas, for regulatory review and evaluation. That data will be used for the ingredient’s eventual review by the U.S. Food and Drug Administration’s Center for Veterinary Medicine, as well as to prepare prototypes for market evaluation.
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 fulfil the dietary needs of dogs and cats. In the U.S. alone, 74 million dogs and 56 million cats in households currently consume significant 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 Bond.
Rich Kelleman, founder and CEO of Bond Pet Foods, said: “Producing two tons of product at the 45,000-litre scale is a major milestone in the Bond-Hill’s collaboration. Hill’s commitment to expand on our work together demonstrates the opportunity we collectively see in Bond’s ingredients for the pet industry’s food future.”
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, shows the rapid progress being made toward taking these products to market. Prototype and market evaluation is one of the final steps toward regulatory approval, and we await the results with anticipation. Many congratulations to Bond on its exceptional work so far.”
