Rabo Corporate Investments invests €40 million in black soldier fly farm

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Big bucks for bug feed.

In a press release, insect farmer Protix writes that it has attracted investor Rabo Corporate Investments as a shareholder. The Dutch company wants to use the capital from Rabobank’s investment franchise to scale up the production of insects in the Netherlands and accelerate the roll-out of its international expansion.

Protix breeds larvae from the Black Soldier Fly and processes them into ingredients like proteins and lipids. These nutrients are used by Protix’s customers for animal and fish feed.

The company opened its insect production facility in Bergen op Zoom, the Netherlands in 2019. The event was attended by Holland’s King Willem-Alexander among other guests, including Skretting Project Procurement Manager Dr Jenna Bowyer and Nutreco Corporate Sustainability Director Jose Villalon.

Feed giant Skretting has signed a deal with Protix that could see up to 5.5 million salmon servings per year brought to market with insect meal incorporated into the feed.

“We want to reinforce our international leadership position in this new industry,” said Kees Aarts, founder and CEO of Protix. “A ‘Global Technology with Local Impact’ aligns with our vision to strive for a food system in balance with nature worldwide. ”

Investment Manager of Rabo Corporate Investments Joost Vogels added that they were attracted to the company as it offered a solution to two major challenges: “How do we sustainably produce enough food for a fast-growing global population and how do we reduce food waste throughout the supply chain.

“Rabobank Group has been involved with Protix since its founding more than ten years ago. We are proud that they have become a global leader in insect production and Rabo Corporate Investments looks forward to support them in their international expansion plans.”

A spokesperson for Protix told SalmonBusiness that the site is in a coronavirus affected area but operations for now as resuming as normal.