Dealflow | April 13, 2021

Ÿnsect acquires Protifarm to produce mealworms for human consumption

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, April 13 — French agtech Ÿnsect, which has raised insects for animal feed and fertilizer since 2011, is expanding its production of human food made from mealworms.

Ÿnsect is acquiring Protifarm, whose vertical farm and processing facility in The Netherlands produces more than 1,000 metric tons of sustainable, edible ingredients made from mealworms annually.

The European Food Safety Authority in January declared mealworms safe for human consumption. Protifarm’s Buffalo mealworms have “mild flavor, allowing consumers to focus solely on taste and enjoyment,” Ÿnsect said in a statement. Ÿnsect’s own Molitor mealworm is optimized for sports performance and food supplements.

Full production

Ÿnsect aims to scale Protifarm’s production to 20,000 tons per year. Combined with Ÿnsect’s two operational production sites, and another currently under construction, the company is looking to produce more than 230,000 metric tons of insect-based ingredients for humans, plants and animals per year (see, “Ÿnsect raises $372 million for carbon negative, vertical insect farming”).

Last month, Ÿnsect announced it had achieved certification as a B Corp, “the first in the insect industry.”