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?
Antwerp-based FlyBlast has a stable black soldier fly breeding line that expresses human insulin “at very high yields,” claims CEO Johan Jacobs.
The firm started protein production in Amiens over the summer, but needs to secure more funding to get to a scale whereby it can “ensure profitability.”
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.
Producing high-value proteins from genetically engineered black soldier flies is cheaper and more scalable than expressing them in engineered microbes via precision fermentation, claims Chilean startup ByBug.
ReFED’s Dana Gunders discusses why interest in food waste solutions from US businesses, investors and consumers remains high.
Industrial-scale insect farming is not for the faint-hearted. So what business models make sense, and who is going to fund the next wave of facilities?
Funding into Australian agrifoodtech startups fell 33% last year according to AgFunder data… But it could have been worse: global agrifoodtech funding fell 49% over the same period.
“In the first six years, we had more failures than successes,” says insect ag pioneer Kees Aarts.
Insect breeding and rearing/processing require very different skillsets, claims FreezeM, which supplies insect farmers with neonates in a state of ‘suspended animation.’
Industrial-scale insect farming is not for the faint-hearted. So what business models make sense, and who is going to fund the next wave of facilities?
Funding in Novel Farming Systems—an AgFunder category spanning indoor farming, insect ag, aquaculture, and algae production—fell off a cliff last year.
Technology that eliminates the earthy color, flavor and aroma of crickets could unlock new opportunities in human food markets, claims US-based startup Hoppy Planet Foods.
Entobel says it will demonstrate that “it’s possible to produce industrial volumes of insect protein at a competitive cost… and we expect this factory will be profitable early next year.”
Tyson will take a minority stake in Protix and fund further expansion of the latter’s insect protein business for animal feed and pet food.
The novel farming systems category has raised $826 million so far in 2023, according to preliminary data from AgFunder.
The companies will provide expertise, equipment and services for converting organic waste into BSF larvae used for protein in animal feed.
Each month, AgFunder News publishes a column of the agrifood industry’s biggest leadership changes, layoffs and more.
Ÿnsect COO Shankar Krishnamoorthy will assume the role of CEO; founder Antoine Hubert will pivot to focus on science, IP and strategy.
Sponsored
Sponsored post: The innovator’s dilemma: why agbioscience innovation must focus on the farmer first