Bunge Ventures becomes investor for Nutrition Technologies to scale up insect protein
26 Jun 2023 --- The leading ag-tech company Nutrition Technologies has announced Bunge Ventures as its new investor – a leading global agribusiness, food, feed and ingredients company.
Nutrition Technologies uses black soldier fly larvae to bio-convert food waste and industrial organic by-products diverted from landfills with its patent-pending fermentation technology.
The black soldier fly is a tropical species that grow quickly and efficiently in Malaysia and requires a minimal energy requirement process. From its two-hectare farm in Malaysia, Nutrition Technologies currently ships industrial volumes of material to other countries in Asia, South America and Europe.
“Their global network and experience in the agribusiness sector are unrivaled and this investment will allow us to scale our tropical bioconversion system and make insect-based products a mainstay ingredient of the future,” says Tom Berry, co-CEO and co-founder of Nutrition Technologies.
The combination
The leading ag-tech company manufactures and supplies insect meal, bio-fertilizers and oil to feed industries globally. According to the company, the biotechnology approach in the insect sector goes through extensive R&D.
“This process uses beneficial microbes and BSFL to provide a zero-waste, low energy and low-cost production model,” details Nutrition Technologies.
“This has not only resulted in our ability to out-compete competitors on pricing but also carbon emissions and sustainability credentials,” said Nick Piggott, co-CEO and co-founder of Nutrition Technologies.
Sustainable diets
The company recently ended an equity venture round with an investment of US$20 million to enable the company to develop products and further expand in markets.
“Insect solutions show great potential to help reach global greenhouse gas (GHG) emissions targets, improve food security and reduce waste streams in a low-energy environment,” the company detailed previously.
Insect protein has been a suggested solution to feeding a growing population with nutritious diets while not compromising on environmental resources and sustainability.
“Insect farming closes the loop by recycling by-products and food waste into high-quality nutrients. Historically, insects are an original and natural part of human and animal nutrition, and balanced ecosystems are full of nutrient cycles often facilitated by insects,” Leo Wein said previously, founder and CEO at Protenga – another company that worlds with black soldier fly.
The larvae are an alternative source of protein for aquaculture, animal feed, pet food and human nutrition. They can play a role similar to redworms as essential decomposers in breaking down organic substrates and returning nutrients to the soil. The larvae have large appetites and can be used for composting household food scraps and agricultural waste products.
Edited by Beatrice Wihlander
