Nutrition Technologies closes funding round to set up Southeast Asia’s largest insect protein production facility
Singapore based agri-food tech company Nutrition Technologies has closed a funding round from a consortium of investors to establish the largest high-tech commercial-scale insect protein production facility in Southeast Asia, which can produce over 18,000 tonnes of insect-based feed ingredients and organic fertilisers every year.
It's no secret that the livestock, aqua and pet feed industries are facing a significant challenge in sourcing high-grade proteins, and there is growing interest in the alternative protein sector. After completing three years developing proprietary technology, in 2018 Nutrition Technologies started commercial production of protein & oil from black soldier fly larvae as a sustainable alternative to fishmeal.
The new industrial-scale facility will incorporate Nutrition Technologies' proprietary insect-rearing production system to manufacture Hi.Protein® insectmeal, its flagship product, as an economical and scalable alternative to competing fishmeal products on the market. Nutrition Technologies will also dedicate a significant portion of the funds to continue its cutting-edge black soldier fly genetics and biology research.
'The key to be successful in this sector is being able to produce a consistently high quality product at an affordable price for feed manufacturers without charging a sustainability premium', said Nick Piggott, Co-Founder and CEO of Nutrition Technologies. 'We have achieved this by developing a unique combination of bio-processing steps, which enables us to optimise the nutrient uptake in our insect larvae. Coupled with the low operating costs in Southeast Asia, and the ideal tropical rearing conditions, we're in a very strong position'.