Finding alternative uses for methane could be an important tool in the fight against climate change as the gas is responsible for at least a quarter of global warming and is over 80 times more powerful than carbon dioxide.
"I had a front-row seat to the buzz - and the reality. It’s easy to criticize this industry, and the entrepreneurs who drive it forward, for being full of hype. In many cases, that is true; but it’s part of a more complicated reality," writes Sean McDonald.
This is the largest early-stage agtech funding deal on record in Europe.
Last week, Enterra Feed Corporation, an insect farming business from Canada, announced its latest round of funding and plans to construct three new insect factories in Canada and the US.
This round was led by OS Fund, which, according to its website, “finances and supports inventors and scientists who are working on audacious breakthroughs to solve the greatest issues and opportunities facing humanity today.”
This values the company at $117 million making AgriProtein not only one of the best-funded insect farming businesses globally with around $30 million raised to-date but the most valuable, according to its founders.