Mainstreaming insect protein? Thai Union bolsters Flying Spark with partnership and investment

22 Oct 2019 --- Seafood producer Thai Union Group PCL is investing in Flying Spark Ltd, a start-up producing 70 percent protein powder made from insect larvae. The investment will enable Israel-based Flying Spark to move ahead with its insect growing and processing capabilities in Thailand as well bolstering its cost reduction and process improvements strategy. The companies are also now working together to develop an important entry in the alternative protein market. The financial details of the deal have not been disclosed.

“To date, our major issue is that we can’t supply enough protein powder to meet the demand that we are facing. Once we have a commercial facility, we will be able to produce our protein in much higher volumes, generate sales and grow the company more quickly,” Eran Gronich, CEO and Founder of Flying Spark, tells NutritionInsight.

Eran Gronich, CEO and Founder of Flying Spark.Flying Spark will soon commercialize, set to launch first in the South American and Asian markets. “We strongly believe that we will see better results in terms of sales in those markets. Consumers are much more open to the idea in these regions where insect consumption is part of the culture and tradition. However, in the Western world, millennials and the rising awareness among consumers for sustainability and assuming healthier eating habits are increasingly opening up the market to the idea to insect protein,” he continues.

The company has some end-products in the pipeline, including those both in and out of the food space, although the details are currently confidential. Last year, it participated in the first “IKEA Bootcamp” start-up accelerator in Sweden, where Oram Yerushalmi, Co-Founder of Flying Spark, told FoodIngredientsFirst that the company has already tried to create a few food applications such as meatballs, nuggets, pastry, pasta, milk-like drinks, tofu-like health bars and cookies.

A strategic partnership
The Flying Spark and Thai Union announcement includes both a strategic partnership and investment to promote larval insect protein as a highly sustainable, highly nutritious contender in the alternative protein market. This collaboration joins Thai Union’s production capabilities and global reach with Flying Spark’s technology in creating an affordable protein aimed at keeping pace with the world’s growing need for cost-effective, sustainable, high-quality protein.

This is the first investment in Thai Union’s new venture fund, which has an initial commitment of US$30 million for investments in various agile companies that are developing breakthrough technologies in food-tech. The fund focuses on the three strategic areas of alternative protein, functional nutrition and value chain technology.

“As we move into the coming decade, we will increasingly cooperate with innovative start-ups in strategically interesting areas. This will complement our own activities as we are broadening our business beyond our traditional core,” says Thai Union CEO Thiraphong Chansiri.Flying Sparks’ production process is sensitive to environmental concerns.

“Thai Union and Flying Spark see eye-to-eye on the need for future alternative protein products to offer high-value protein while minimizing the ecological footprint. This marks a significant step forward in bringing insect protein into the food industry mainstream,” adds Gronich.

The future of protein?
As the world’s population is set to balloon to ten million by 2050, the race is on to find a cheaper and more sustainable alternative to animal-derived proteins. Flying Sparks’ production process is sensitive to environmental concerns as it requires very little water and land, creates no methane emissions, and does not use hormones or antibiotics. The company uses larvae from Ceratitis capitata, which feed on fresh fruits in nature. The larvae have a lifespan of only seven days yet multiply their body mass 250 times in that period.

The technology enables easy and low-cost cultivation and processing, with nearly zero waste, as all parts of the larvae are used. The company says that this gives itself an edge over conventional protein sources — not only those from meat and plants but also over other insects, such as crickets and grasshoppers.

The powder is touted as being extremely rich in iron, calcium, magnesium and dietary fibers.“Interest in insect protein is being driven by a combination of small ecological footprint, high nutritional values and low cost of production, which is still a challenge for most breeders. Insects are highly sustainable in comparison to all other sources of protein, including plant-based protein. Nutritional values are equal or superior to other sources of protein,” explains Gronich.

The powder is touted as being extremely rich in iron, calcium, magnesium, dietary fibers, and is an excellent source of amino acids. Its white color and mild taste and aroma enable easy incorporation of the protein into a variety of food and feed products.

Earlier this year, researchers highlighted how the technological and processing approaches needed to commercialize insects have been neglected. Their study explores current insect farming methods, processing technologies and commercialization techniques, as well as current perceptions towards entomophagy – the practice of eating insects.

Another study measured antioxidant levels in commercially available edible insects, noting that grasshoppers, silkworms and crickets displayed the highest values of antioxidant capacity – fivefold higher than fresh orange juice.

By Katherine Durrell

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