Fly aquafeed producer buys Belgium insect firm

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AgriProtein to take over Belgian insect-based-ingredients company Millibeter and will build multiple fly plants and R&D centre in the area.

The fly farmer and waste-to-nutrient pioneer will fund the construction of the first full-scale Millibeter factory in Belgium, according to a press release.

AgriProtein started in Cape Town, South Africa, but now has it’s global headquarters in the UK. Earlier this year the company got a USD 105 million boost from investors, the 18th largest farm tech deal on record.

The black soldier fly PHOTO Wikipedia

Chief executive Jason Drew said: “We look forward to welcoming Millibeter into the AgriProtein family. It will accelerate our EU expansion, adding an experienced team who will bring complementary technologies to our growing business.”

Like AgriProtein, Millibeter uses black soldier flies vegetable waste into feed. The company operates from the Open Manufacturing campus in Turnhout, Antwerp and is run by CEO Johan Jacobs. With the purchase, AgriProtein plan to build multiple plants in the region and base its European R&D centre in Belgium.

Drew added: “The company has recently expanded its R&D capability to over 45 people based in its state-of-the-art chemistry and genetics laboratories in Cape Town. It has also hired senior staff from engineering and organic substrate management backgrounds to increase its project roll-out capacity. The company is focusing on the aquafeed market, where demand is increasing year on year to satisfy increasing consumer demand for farmed fish”.

AgriProtein processes fly larvae to produce MagMeal (55% protein organic animal feed) and MagOil (a lauric acid-rich oil for use in feeds) at a large industrial scale factory site in South Africa.