23 May 2024

Agronomics Ltd

("Agronomics" or the "Company")

Meatable Appoints Jeff Tripician as New CEO

Agronomics (LSE: ANIC), a leading listed company in the field of cellular agriculture, is pleased to announce that its portfolio company Meatable B.V. ("Meatable") has appointed Jeff ("Trip") Tripician as its new CEO with effect from 17 June 2024.  Jeff Tripician will succeed the current CEO and co-founder Krijn de Nood, who will continue to serve and advise the company on the Board of Directors. Meatable has announced the following:

Jeff Tripician, an industry veteran with more than 25 years of experience in the organic and natural meat industry in the U.S., will lead Meatable as it prioritises U.S. market expansion. This expansion will come on the heels of Meatable's planned commercial launch in Singapore later this year, which is critical for the Company's long-term strategy to offer cultivated meat in the broader Asian market.

Jeff Tripician most recently served as CEO of GrassFed Foods LLC and, prior to that, as President of Perdue Farms Inc. He brings extensive experience of the U.S. meat industry, especially in the U.S. supply chain, marketing of sustainable meat products, fundraising and M&A strategy. At GrassFed Foods LLC, he orchestrated a successful merger between Teton Waters Ranch LLC and SunFed Beef LLC (SunFed Ranch), which positioned the company as the foremost regeneratively-focused grass fed beef platform in the U.S.

Cees de Jong, Chair of the Board of Directors at Meatable, said:

"With our launch in Asia planned for the fall, the next critical part of Meatable's growth strategy is to drive expansion into the U.S., and we believe that Trip's long and successful experience in the organic and natural meat industry will be invaluable in helping Meatable achieve those global commercialization and growth goals. We look forward to his immediate impact as we take Meatable to new heights in Asia, the U.S. and beyond."

"Krijn has always agreed that at this stage of the Company's evolution, it is important for us to have a leader in the critical U.S. market and relocating was not an option for him. However, I look forward to continuing to work with him and receive his valuable contributions as a member of the Board of Directors."

As part of Meatable's go-to-market strategy in the U.S., the company has also announced the appointment of food and biotechnology veteran Dean Banks, former President and CEO of Tyson Foods Inc, to its Board of Directors. Dean Banks is the current CEO-Partner of Flagship Pioneering Inc, a leading biotechnology company, and CEO of Indigo Ag Inc, the leading carbon programme for farmers and buyers. Previously, he was a member of the leadership team at X Development LLC, an Alphabet company formerly known as Google [X], where he led moonshot projects across multiple industries, including sustainable food.

Agronomics' Executive Chair, Jim Mellon commented: 

"We are delighted with the appointment of Jeff Tripician, who brings a wealth of leadership and commercial experience. This will help prepare Meatable for its go-to-market launch strategy across the US and Asia. We are also delighted that Meatable is retaining the expertise of Krijn de Nood, who has been at the forefront of developing the technology that has positioned Meatable as an industry leader in cultivated meat production. His expertise and counsel will be invaluable for the next stage in Meatable's journey." 

About Meatable

Meatable is an innovative, Dutch food company, aiming to deliver, at scale, the new natural, cultivated meat that looks like, tastes like, and has the nutritional profile of traditional meat. Its proprietary opti-ox™ technology is designed to enable Meatable produce meat rapidly, sustainably, and without harming animals. Founded in 2018 by Krijn de Nood (CEO), Daan Luining (CTO), and Dr Mark Kotter (principal inventor of opti-ox™ technology), Meatable has brought together a team of close to 100 experts with unique knowledge in fields including molecular biology, chemistry, tissue engineering, bioprocess development, food safety, and food science to create the new natural meat. Follow Meatable: LinkedIn, Twitter, Instagram, Facebook.

About Agronomics

Agronomics is a leading listed company focussing on investment opportunities within the field of cellular agriculture. The Company has established a portfolio of over twenty 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 ingredients with a focus on products historically derived from animals. These technologies are driving a major disruption in agriculture, offering solutions to improve sustainability and address human health, food security, and animal welfare. A full list of Agronomics' portfolio companies is available at https://agronomics.im/.

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