In Indiana, biomanufacturing company Liberation Labs has successfully raised $3.5 million, which includes a $2 million investment from Agronomics Limited. Liberation Labs was formed to address the growing fermentation capacity gap in cellular agriculture by providing the industry with the infrastructure to commercialize novel protein manufacturing at the scale and cost structure required by the market.
The funds from the convertible debt will support the construction of Liberation Labs’ inaugural facility in Richmond, Indiana, which is expected to be operational by Q1 2025 with a fermentation capacity of 600,000 liters.
With this latest funding, Agronomics has invested a total of $19.6 million in Liberation Labs, holding a 37.5% stake on a fully diluted basis. Other contributors to this fundraising round, each providing $0.5 million, include New Agrarian Company Limited (an Agronomics affiliate), Galloway Limited, and Jim Mellon.
The Richmond site was chosen for its favorable access to sugar, utility rates, labor, and government incentives.