June 18, 2024 - Ittinsect, the pioneering Italian biotech dedicated to making aquaculture independent of marine resources, has closed 2023 on a high note by achieving three Sustainable Development Goals (SDGs) from the United Nations' 2030 Agenda. These goals, agreed upon by UN member states, form part of the broader Global Agenda for Sustainable Development.
Thanks to the support of 22 European fish farmers who have adopted Ittinsect's innovative feeds, the Italian scale-up is actively contributing to the reduction of human impact on marine biodiversity. Founded in 2021, Ittinsect produces aquaculture feeds through cutting-edge biotechnical processes, using alternative protein sources to traditional fishmeal.
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The company, deeply committed to the preservation of oceans and seas, closed 2023 with €1.5 million in funding. This financial backing came from private investors such as Katapult Ocean, CDP Venture Capital, Indico Capital Partners and Zest (formerly LVenture), along with national and regional grants from Invitalia and Lazio Innova, and debt instruments from Intesa Sanpaolo.
Achievements detailed
In line with SDG 14, which focuses on conserving underwater life, ittinsect has protected 3,102,353 forage fish from commercial fishing. For SDG 2, which aims at achieving food security and promoting sustainable agriculture, fish farmers using Ittinsect's feed produced 23,276 additional portions of fish at no extra costs. Under SDG 12, which aims to ensure sustainable consumption and production patterns, Ittinsect has effectively upcycled 79,680 kilograms of agro-industrial by-products.
These accomplishments were enabled by the company's patent-pending biotechnological processes and a strong commitment to circular economy principles. The rapid adoption of Ittinsect's products within the aquaculture industry reflects the willingness of fish farmers to embrace feeds that reduce environmental impact while enhancing growth performance, health status and reducing mortality rates among farmed fish.
"Our daily mission is to protect the sea from human impact. The team and I are honoured to have made a significant contribution to preserving the marine ecosystem. Our greatest ambition is to see the seas and oceans full of life again - a goal that can only be achieved through the perseverance and dedication that defines us" remarked Alessandro Romano, founder and CEO of Ittinsect.
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The Aquaculturists
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