Moolec Science SA Announces Q2 Fiscal Year 2024 Business Update

Moolec Science SA, leveraging Molecular Farming technology to embed animal proteins in plants, reported its business progress for the second quarter of the fiscal year 2024, ending December 31, 2023. Highlighting advancements, the company announced the initiation of third-generation (T3) soybean seed propagation as part of its Piggy Sooy™ Platform, with expectations to harvest fourth-generation (T4) seeds by April 2024. Moolec's scientific endeavors also confirmed the presence and stable inheritance of the bovine myoglobin gene in pea seeds, alongside the development of a novel yeast strain aimed at dietary and food ingredient markets. In terms of product marketing, the company unveiled the next generation of textured plant-protein prototypes at Gulfood 2024. Financially, Moolec raised approximately $30M through strategic investor contributions and an additional ~$1M from farmers, while maintaining its historical cost efficiency and recording ~$1.7M in revenues. CEO Gastón Paladini and CFO José López Lecube expressed pride in their team’s progress and confidence in Moolec's financial health and growth strategies.