Protix wants to expand internationally

Dutch company Protix, which says it is the world leader in the production of insect-based feeds, has received another €50 million from investors to implement its internationalization plan. The company said today in Dongen that the European Circular Bioeconomy Fund (ECBF), BNP Paribas Principal Investments, the Prince Albert II Foundation and investment company The Good Investors joined as backers. In addition, the new financing would be supported by existing shareholders Aqua-Spark, Rabo Investments and Invest-NL.

Protix plans to use the additional capital for its further international expansion and research and development activities. The capital increase underlines the company's leading position in the fast-growing market for insect-based ingredients, it said. The company says it is already producing profitably and on an industrial scale. It said the next phase of growth will focus on building new facilities and increasing capacity.

Protix produces ingredients from insects and breeds larvae of the black soldier fly. Organic waste from the food industry serves as feed for the insects. The insects are then used in feed for pets, fish, chickens and other livestock. In this way, the food cycle is closed, and the insects help prevent overfishing of the oceans and deforestation for soybean cultivation as an alternative source of protein, the company points out.

In June 2019, Protix had opened the world's largest insect farm in Bergen op Zoom. Production there is sufficient to feed more than 5 million salmon, it said. In addition, live larvae of the black soldier fly are used to feed laying hens soy-free; an annual production of 250 million eggs is possible, it said. AgE