GALY Raises $33 Million in Oversubscribed Series B Financing to Advance its Cellular Agriculture Platform• Funding will be used to advance GALY’s proprietary lab-grown cotton product, 'GALY Cotton,' from lab to pre-industrial scale

GALY在超额认购的B系列融资中筹集3300万美元，以推进其细胞农业平台•资金将用于推动GALY专有实验室种植的棉花产品“GALY cotton”从实验室规模发展到工业化前规模

• Company to expand R&D efforts into the development of cotton and other plant-cell based productsBOSTON, September 3, 2024-- GALY CO., a climate tech company pioneering the development of first-of-its-kind sustainable cellular agriculture products, today announced the closing of an oversubscribed $33 million Series B financing led by Breakthrough Energy Ventures (BEV) with additional participation from new investors H&M Group and Inditex..

•公司将研发工作扩大到棉花和其他植物细胞产品的开发2024年9月3日，波士顿——GALY CO.，一家率先开发同类可持续细胞农业产品的气候技术公司，今天宣布结束由突破性能源投资公司（BEV）牵头的3300万美元B系列融资，新投资者H＆M Group和Inditex也将参与其中。

The funds will primarily fuel the expansion of GALY’s research and development on its innovative cellular agriculture platform and its flagship product, “GALY Cotton,” which uses 99% less water and 97% less land than traditional cotton while emitting 77% less CO2, as it advances towards pre-industrial quality and scale..

这些资金将主要用于扩大GALY在其创新性细胞农业平台及其旗舰产品“GALY Cotton”上的研究和开发，该产品比传统棉花减少99%的用水和97%的土地，同时减少77%的二氧化碳排放，因为它朝着工业化前的质量和规模迈进。

'We are thrilled to have investors who recognize the crucial role that our climate adaptation technology will play in our daily lives,” said Luciano Bueno, CEO and Founder of GALY. “Climate change exposes the fragility of agricultural supply chains, and the recent rise in cocoa prices is a stark reminder of the new normal we face.

GALY首席执行官兼创始人卢西亚诺·布埃诺（LucianoBueno）说：“我们很高兴有投资者认识到我们的气候适应技术将在我们的日常生活中发挥关键作用。”。“气候变化暴露了农业供应链的脆弱性，最近可可价格的上涨清楚地提醒人们我们面临的新常态。

Unfortunately, it's not a matter of 'if,' but 'when.' Soon, the world will face increased volatility in conventional agriculture as extreme weather conditions become more frequent. When that time comes, GALY will be ready, better equipping our economy to withstand these shocks.'.

不幸的是，这不是“如果”的问题，而是“何时”的问题很快，随着极端天气条件变得更加频繁，世界传统农业将面临更大的波动。到时候，GALY将做好准备，更好地装备我们的经济以抵御这些冲击。”

Founded in 2019 with a mission to find ethical and sustainable agricultural solutions, “GALY Cotton” is the company’s first product targeting conventional cotton practices. “GALY Cotton” fully replicates traditional cotton in quality, retaining its exact attributes because it originates from an actual plant, all while offering ESG benefits, customizable quality and a clear roadmap to reach cost parity.

“GALY Cotton”成立于2019年，其使命是寻找合乎道德和可持续的农业解决方案，是该公司第一款针对传统棉花做法的产品。“GALY Cotton”在质量上完全复制了传统棉花，保留了其确切的属性，因为它源自实际植物，同时提供ESG优势，可定制的质量和明确的路线图，以达到成本平价。

With this success, GALY is expanding its cellular agriculture platform beyond cotton to include other plant-cell products, aiming to address a global agricultural market valued at $1.7 trillion annually..

凭借这一成功，GALY正在将其细胞农业平台扩展到棉花之外，以包括其他植物细胞产品，旨在应对每年价值1.7万亿美元的全球农业市场。

In addition to BEV, H&M Group, and Inditex, the oversubscribed investment round was joined by repeat investors including Material Impact, John Doerr’s family office (Eighty Eighty Group), Artesian, BRINC and Reaction Global. Additionally, there was participation from Indorama Ventures, Endeavor Scale-up Ventures, and Unreasonable, among others..

除了BEV、H＆M Group和Inditex之外，超额认购的投资回合还包括重复投资者，包括Material Impact、John Doerr家族理财办公室（80后集团）、Artesian、BRINC和Reaction Global。此外，还有来自Indorama Ventures、Endeavor Scale up Ventures和Unreasonic等公司的参与。

“Agriculture is arguably the industry sector most impacted by climate change, while also being a major driver of greenhouse gas emissions itself,” said Carmichael Roberts, Breakthrough Energy Ventures. “We need alternatives that can complement traditional agriculture without contributing to emissions or creating an overreliance on unstable supply chains.

突破性能源投资公司CarmichaelRoberts说：“农业可以说是受气候变化影响最大的工业部门，同时也是温室气体排放本身的主要驱动力。”。“我们需要替代品来补充传统农业，而不会造成排放或过度依赖不稳定的供应链。

GALY’s cellular agriculture technology provides a solution to these challenges, while enhancing resource efficiency and building climate resiliency for the sector.”.

GALY的细胞农业技术为这些挑战提供了解决方案，同时提高了资源效率并为该行业建立了气候弹性。”

“We urgently need solutions that drastically reduce emissions and are more sustainable, using less land and water. GALY’s breakthrough in growing agriculture like cotton and others in a bioreactor is a game-changer,” said Ryan Panchadsaram, John Doerr’s technical advisor at Kleiner Perkins. “Over the past two years, they have proven their technology works across multiple crops.

Kleiner Perkins的John Doerr技术顾问Ryan Panchadsaram表示：“我们迫切需要能够大幅减少排放、更具可持续性、使用更少土地和水的解决方案。GALY在生物反应器中种植棉花等农业方面取得的突破，将改变游戏规则。”。“在过去两年中，他们证明了他们的技术在多种作物上都有效。

With this new capital, they will focus on scaling up and improving the quality of their products.”.

有了这笔新资金，他们将专注于扩大规模和提高产品质量。”

“GALY has developed a promising technology to reduce the impact of cotton production on water, chemicals and soil use. Taking this equity interest marks a significant step in our commitment to advancing towards an innovative and more responsible textile industry. By investing in cutting-edge technologies for producing next-generation fibres, we are not only moving towards our goal of exclusively using materials with a lower environmental impact, but also actively shaping the transformation of the industry through strategic capital investments,” said Óscar García Maceiras, CEO of Inditex..

Inditex首席执行官Óscar García Maceiras表示：“GALY开发了一种很有前途的技术，可以减少棉花生产对水、化学品和土壤使用的影响。拥有这项股权标志着我们向创新和更负责任的纺织业迈进了一大步。通过投资生产下一代纤维的尖端技术，我们不仅朝着只使用对环境影响较小的材料的目标迈进，而且还通过战略资本投资积极推动行业转型。”

“GALY’s lab grown cotton is on the verge of a breakthrough and could reduce reliance on virgin cotton if successful. We’ve been supporting the company’s progress since 2019 and are really excited to be part of this latest investment round. About 60% of the materials we source for our products is cotton and we have high ambitions that all our materials come from recycled or other sustainable sources by 2030, so partnering with GALY makes perfect sense,” said Martin Ekenbark, H&M Group, Circular Innovation Lab Lead and Board Observer at GALY..

“GALY的实验室种植棉花即将取得突破，如果取得成功，可以减少对原棉的依赖。自2019年以来，我们一直在支持该公司的进展，非常高兴能成为这轮最新投资的一部分。我们产品的原料中约有60%是棉花，我们有很高的雄心壮志，到2030年，我们所有的原料都来自回收或其他可持续来源，因此与GALY的合作非常有意义，”GALY循环创新实验室负责人兼董事会观察员Martin Ekenbark表示。

'The support of Breakthrough Energy Ventures is a testament to our vision and recognizes our scientific progress to date, and the commitment of industry leaders like H&M Group and Inditex adds both capital and expertise, helping us develop our product to reach market quality and build modular-based capacity,” added Bueno..

Bueno补充道：“突破性能源投资公司的支持证明了我们的愿景，并认可了我们迄今为止的科学进步，H＆M Group和Inditex等行业领导者的承诺增加了资金和专业知识，帮助我们开发产品以达到市场质量并建立基于模块的能力。”

GALY’s current cap table, which includes Sam Altman (Hydrazine Capital), Tony Fadell’s Build Collective, Tim Draper (Ventures Lab), Pillar VC, Petri Bio, Harry Tannenbaum, Yoav Lurie, Babel Ventures, Lake House, Incite, Agronomics, Fashion For Good, and Apollo Projects, among others, positions GALY uniquely in the current market environment.

GALY目前的市值表包括Sam Altman（联氨资本）、Tony Fadell的Build Collective、Tim Draper（风险投资实验室）、Pillar VC、Petri Bio、Harry Tannenbaum、Yoav Lurie、Babel Ventures、Lake House、Incite、Agronomics、Fashion For Good和Apollo Projects等，在当前的市场环境中为GALY提供了独特的地位。

“We at Ventures Lab welcome such a star-studded group of investors into GALY,” said Tim Draper, venture capitalist and founder of Draper University. “GALY has innovative technology that can change everything in the clothing world. We expect this funding to help make it happen.”.

风险投资家兼德雷珀大学创始人蒂姆·德雷珀（TimDraper）表示：“我们风险投资实验室欢迎这样一批明星云集的投资者进入GALY。”。“GALY拥有可以改变服装世界一切的创新技术。我们希望这笔资金能够帮助实现这一目标。”

GALY has also secured millions of dollars in proof-of-concept agreements with top industry players and a 10-year, $50 million offtake agreement with Suzuran Medical, a Japanese medical supplies manufacturer, for the sourcing of 'GALY Cotton.”

GALY还与顶级行业参与者签订了数百万美元的概念验证协议，并与日本医疗用品制造商Suzuran Medical签订了为期10年、价值5000万美元的承购协议，以采购“GALY Cotton”

To learn more about how GALY is transforming traditional agriculture, visit www.galy.co.

要了解GALY如何改变传统农业的更多信息，请访问www.GALY.co。

About GALY CO.

关于GALY CO。

Launched in 2019, GALY is a climate tech company dedicated to developing novel cellular agriculture products. Starting with cotton—which accounts for 2.5% of the world’s total arable land, consumes 25% of the world’s agrochemicals, requires an estimated 10,000 liters of water per kilogram produced, and faces traceability issues due to unsafe labor conditions—the company has successfully developed a minimum-viable product and is working on both enhancing the product’s quality parameters and scaling up production.

GALY成立于2019年，是一家致力于开发新型细胞农业产品的气候技术公司。棉花占世界总耕地的2.5%，消耗了世界25%的农用化学品，估计每公斤生产需要10000升水，并且由于不安全的劳动条件而面临可追溯性问题。该公司已成功开发出一种最低可行的产品，并正在努力提高产品的质量参数和扩大生产规模。

Recognizing the potential of its platform through its work with cotton, GALY has expanded its foundational technology to other crops in industries such as food and beverages, among many other possibilities.Contact: .

通过与棉花的合作，GALY认识到其平台的潜力，将其基础技术扩展到食品和饮料等行业的其他作物，以及许多其他可能性。联系人：