Singapore-based agri-food tech company Nutrition Technologies opens its first industrial-scale insect protein factory in Iskandar Puteri, Johor, Malaysia.
Since 2014, Nutrition Technologies have been using black soldier flies (Hermetia illucens) to turn low-grade food waste and organic by-products into proteins and oils as a sustainable alternative to fishmeal, a commonly used ingredient in animal feed.
Their new factory was commissioned in December 2020 and is now scaling-up its production.
“When fully operational, our new plant will produce 16,000 tonnes of insect products per year. This will divert 80,000 tonnes of waste per year from landfills and save tens of thousands of pelagic fish in the oceans, by providing a substitute for fishmeal,” said co-CEO and co-founder Nick Piggott.
In recent years, the global fishmeal supply has stagnated. This, combined with rising demand for livestock and seafood, has left the animal feed industry facing a significant deficit in high-grade proteins.
The Insect protein sector has gathered increasing attention over the past few years. The sector has seen investments totaling nearly US$1bn to date. Last year it is estimated that only 10,000t of insect meal was produced by all companies, across the world. However, this is expected to increase over the coming years as more factories start to come online.
Nutrition Technologies products offer a range of positive impacts on animal health and performance. These are tailored to answer the needs of the animal feed industry and support the necessary growth in fish and poultry production to support the world’s growing population.
“Our clients are looking for natural ways to reduce antibiotics, and efficiently promote animal health. The Black Soldier Fly Larvae’s unique fatty acid profile and bioactive compounds such as antimicrobial peptides have a key role to play in addressing these issues.” said CTO Martin Zorrilla.
On 26th February 2021, the company closed a recent funding round of $5 million, led by Hera Capital, and supported by existing investors, Openspace Ventures, and SEEDS Capital (the investment arm of Enterprise Singapore).
The fresh funding will be used to fund new R&D projects as well as used to prepare the company for entry into new markets in Southeast Asia.
“We are very excited to partner up with Nutrition Technologies to support their growth. Commercial Insect production is one of the most important innovations of the last decade, with the potential to disrupt the animal feed sector and solve multiple issues the world is currently facing.” said Sebastien Guillaud, Managing Partner, Hera Capital. – EventsNewsAsia.com