Bioceres Crop Solutions Acquires Stake in Moolec Science and Enters Fast Growing Alternative Food Market
New Initiative Positions Bioceres With Emerging Developers of Food Technologies for Alternative Proteins and Oils
6% Stake in Exchange for GLA Safflower Oil Intellectual Property Rights Acquired in November 2020
GLA IP Complements Moolec's Existing Technologies, Improving Competitiveness of Safflower Molecular Farming Platform
Bioceres Crop Solutions Corp. ("Bioceres") (NYSE:BIOX), a fully-integrated global provider of crop productivity solutions designed to enable the transition of agriculture towards carbon neutrality, has entered into definitive agreements for the acquisition of a 6% ownership interest in Moolec Science Ltd. ("Moolec"), a Molecular Farming company pursuing a hybrid concept between plant and cell-based technologies for the production of animal-free food solutions.
Moolec is developing products based on multiple crops to obtain functionalized alternative protein concentrates and isolates. Through genetic engineering, the company aims to produce animal-free solutions at a much lower cost than that offered by existing technologies, by using the scalability of plant-based production systems to leverage the functionality attained through cellular agriculture.
Moolec has developed and fully de-regulated the world's first bovine protein derived from modified safflower grain, a patented technology branded under the SPC name. Through a joint venture subsidiary, Moolec operates a dedicated industrial facility for the production of protein concentrates and oils. Using "plants as bioreactors," Moolec has set its sights on developing other animal proteins and improved oils from crops such as soybeans, peas, wheat, and oat, which can then be formulated into sustainable hybrid meat, dairy, and egg replacements.
According to a recent report, worldwide alternative proteins market valuation reached USD $14.95 billion in 2019 and is expected to grow considerably over 2020-2025. Rising demand for plant-based food products is driving the industry growth due to increasing health, environmental -mainly GHG emissions- and animal welfare consciousness among consumers.
Mr. Federico Trucco, Chief Executive Officer of Bioceres, said: "We are excited to partner with Moolec, a company that we have known since inception and one with which we share a common origin. This transaction allows Bioceres to gain exposure to a fast-growing industry that is aligned with our purpose of helping food systems transition to carbon neutrality. GLA assets are non-core to our business focus at Bioceres and this transaction will unlock greater potential value from this asset in the hands of a company specifically dedicated to the alternative food space like Moolec," concluded Trucco.
About Moolec Science Ltd.
Moolec Science is an Ag-Foodtech company that consolidates a unique pipeline of projects and capabilities with more than one decade under development. It introduces a hybrid concept that includes the cost structure of plant-based solutions with the organoleptic properties and functionality of cell-based platforms. With a proof of concept for the cheese market, the team is known for being the first to produce a functional protein (bovine chymosin) in plants (safflower) through Molecular Farming. A family of international patent applications currently covers this platform, with events fully de-regulated for cost-effective large-scale production. Currently, the company is consolidating different research lines to produce unique blends of highly functional and nutritional animal proteins in protein-rich crops (soybean, peas, wheat, and oat) and create a new generation of meat, dairy, and egg replacements. Moolec is run by a diverse team with operations in the United States, Europe, and South America, and its purpose is to improve the affordability of animal-free solutions in favor of true sustainability. For more information, click here.
About Bioceres Crop Solutions Corp.
Bioceres Crop Solutions Corp. (NYSE:BIOX) is a fully integrated global provider of crop productivity technologies designed to enable the transition of agriculture towards carbon neutrality. To do this, Bioceres' solutions create economic incentives for farmers and other stakeholders to adopt environmentally friendlier production practices. The Company has a unique biotech platform with high-impact, patented technologies for seeds and microbial ag-inputs, as well as next generation crop nutrition and protection solutions. Through its HB4® program, the Company is bringing digital solutions to support growers' decisions and provide end-to-end traceability for production outputs. For more information, click here.
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