Brief: Aspire raises “meaningful amount” to keep insect ag operation going
CEO David Rosenberg told us that, “It is a meaningful amount of money, but more money is needed later in 2025.”
CEO David Rosenberg told us that, “It is a meaningful amount of money, but more money is needed later in 2025.”
While insect ag facilities are typically vertically integrated, Agroloop’s new BSFL facility near Budapest does not include a breeding unit, an operation it has entirely outsourced to FreezeM.
Insect waste (frass)—which contains nitrogen, phosphorus, and potassium—boosts soil health and provides a more balanced, slow-release nutrient profile than synthetic fertilizer, claims Innovafeed.
Aspire has “signed a term sheet” and is “working to close our financing at the end of the month,” says CEO David Rosenberg. “Demand still remains strong, but we have to scale up and produce consistently.”
Loopworm is ramping up production at a facility in Bangalore capable of churning out 6,000t of silkworm and black soldier fly protein a year.
The startup aims to be fully scaled up at a 108,000sq ft facility next year, with production capacity of 3,500t of dry black soldier fly larvae (BSFL) protein and 9,000t of frass.
Plenty of commentators—and jaundiced investors—may query the economics of insect agriculture given the struggles of some high-profile players. But what about the touted environmental benefits? Is it a given that it is more sustainable to feed animals insect protein than, say, corn or soybean meal?
The tiny larvae are put in a state of suspended animation for up to 10 days without refrigeration, enabling insect protein producers to focus on rearing and processing.