Dutch firm is to receive EUR 45 million funding from Aqua-Spark, Rabobank, BOM and several private investors for a project on the potential use of insects in aquaculture feed manufacture.
Protix breeds insects for animal feed, as insects offer a low-impact protein alternative that can be cultivated on a variety of food scraps. This is of the utmost importance as global populations continue to grow and the demand for meat, fish and dairy surges. Food manufacture is increasingly undergoing pressure with the added challenges of deforestation and overfishing.
Investment firm Aqua-Spark’s interest in investing in this project stems from the promising uses of Protix for aquaculture.
“We’ve been researching the insect industry for many years, and Protix stands out because of its potential to be pivotal in the development of a sustainable aqua-feed solution. We’re selective about the companies we invest in; and Protix fits well with Aqua-Spark’s portfolio and aligns with our mission and values. Combined with excellent potential returns and through its partnership with Buhler, Protix is expected to enable industry acceleration globally,” explain Mike Velings and Amy Novogratz, Aqua-Spark founders.
In their view, fish raised using sustainable aquaculture methods offer a solution to the global food crisis because they have the least environmental impact of any animal protein.
With this investment, Protix intends to expand its production capacity, especially within the aquaculture industry. In addition, its R&D will be strengthened and diversified to other markets, such as food.
Protix has recently joined forces with Buhler, the leading solution provider for the food and feed industry, to accelerate the standardization and roll-out of insect rearing and processing equipment globally.