He’s from Argentina, develops animal proteins in plants, and is worth $600 million

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The shares of the Argentine firm Moolec science They are up 100% this Tuesday on the New York Stock Exchange after the shareholders’ meeting of light jump approved the merger with the Argentine company, of which it is the majority shareholder Bioceres Group. In this way, the company achieved a higher market value close to 600 million dollars.

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Bioceres is a shareholder of Moolec through its subsidiary Bioceres Crop Solutions, which owns 5.7% of Moolec’s shares. This is dedicated to development of animal proteins in plants and its CEO is Gaston Paladinsfourth generation of the founding family of the refrigerator based in Rosario.

Moolec will use the US capital market for Get funding for your projects. It will do this by placing shares in the company. For this reason, it was incorporated into a SPAC (purchase purpose company) in the middle of the year to speed up the listing process.

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As posted by the site Dot Bizthe strategy is that operations in the New York capital market allow to be the Moolec’s main source of fundingwhich performs a genetic optimization of vegetables so that they have the same protein as meat and in this way develop, for example, a vegan product that has the same characteristics as that of animal origin.

Meditating on using strategies like agricultural moleculesMoolec tries to change the source of the food by removing the animals from the scene and entering the territory of the alternative proteins based on plants or fermenting microorganisms, to get to meat substitutes. The company’s plan is to speed up the initial times which, according to international reports, speak of equal cost between the production of traditional food and the new formulas that do not use animals until 2032.

As they move towards the ultimate goal, the company works on milestones that they can scale as fast as the development of industrial enzymes, fatty acids and oils which position it as a strategic ally of other companies.

Many of the biotechnological processes developed by Moolec are generated in Rosario at the Bioceres facilities in the Scientific Technological Center located in the Siberia area. From time to time they outsource part of the local operations to Inmet (Metabolic Engineering), another company also integrated into the Bioceres holding.

Source: Clarin

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