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Moolec Science Presents Fiscal Year 2024 Annual Business Update
Luxembourg-based Moolec Science SA (NASDAQ: MLEC) released its business update for the fourth quarter of the fiscal year 2024, ending on June 30, 2024. The company, which produces animal proteins and nutritional oils in plants, highlighted several key achievements.
The major milestones include a new offtake agreement for GLASO™ with a global CPG food and pet food company and a collaboration with Bunge for R&D advancements. Additionally, Piggy Sooy™ experienced successful field trials in multiple US locations, and Valorasoy™ 2.0 trials showed positive results.
The company reported $6 million in revenue and other income for FY 2024, primarily driven by its soy protein ingredient business. Gastón Paladini, CEO, expressed optimism about the commercialization of GLASO™ and continuing advancements in molecular farming. CFO José López Lecube noted the company's prudent cash management and effective capital raises, reinforcing a strong financial position.
R. P.
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