AgriProtein Secures US$105m Investment in Insect Protein Sector

The waste nutrition business AgriProtein has raised US$105 million in funds, which marks a new high for investors in the insect protein industry. According to the company, this is by far the most significant investment.

The record increase in AgriProtein Holdings UK and the additional local project financing in a series of plant constructions in Africa, the Middle East and Asia have put AgriProtein on the right track to achieve ambitious factory launch plans.

Jason Drew, co-founder and CEO of AgriProtein, stated: “This is a major vote for the growth industry, which produces proteins that are sustainable for animal feed. It reaffirms our position as a leading upstream recycling agency for waste to protein. , and brought financial resources for our further global expansion. "

The company has won the BBC Global Champion title for the Food Chain of 2017. The company is building a global business through its recycling economy strategy: Upgrading organic waste to meet the food safety and waste management challenges of emerging world populations, while helping to protect wildlife. Threatened fish resources in the ocean.

AgriProtein uses black soldier flies and their larvae to convert organic food waste into high-protein substitute fishmeal, fish meal for poultry, pig and pet food.

Drew added: "We need to see different wastes - as a resource - especially food waste. The growing population, the scarcity of water resources and land resources, and the reduction in natural fish resources make this more important than ever before. ".

Talking about food ingredients First, Drew said: "I think that insect proteins are and will become increasingly useful contributors, which will help put the 'protein gap' with other technologies (such as unicellular bacteria and algae-derived proteins) Insert it together.

He pointed out: "Insectivores are already processing feed - and hundreds of thousands of insects are tested. We have a long way to go as an industry."

Drew hopes to have more investment in this area: "This is a capital-intensive and sustainable solution - as the industry grows, it needs more capital."

AgriProtein has launched a flying farm project worldwide to produce the flagship MagMeal.

It has also expanded senior staff from engineering and waste management backgrounds to increase its project roll-out capacity.

The company is focusing initially on the aquafeed market, where demand is increasing year on year to satisfy growing consumer cafetites for farmed fish.

Worth over US$114 billion in 2017, aquafeed is predicted to grow by a factor of 2.5 in just eight years to nearly USD 290 billion in 2026, according to Reuters/MRC Statistics, March 2018.

Drew also pointed out: "There is not enough marine material in the ocean to meet the demand of fishmeal for aquafeed, let alone feed for poultry, pigs and pets. In addition to algae and bacteria, we need new ones like ours. Destructive sources of protein to narrow the feed gap and help repair the future of the planet in the process. "

In January 2018, AgriProtein was rated as one of the world's top 100 clean technology companies in the second year.