The Brabant-based company Protix, which makes food ingredients for animal feeds from insect larvae, has raised €50 million from impact investors. The capital is added to equity and is used by Protix for international expansion and further research.
The company announced this on Tuesday. The investors European Circular Bioeconomy Fund (ECBF), BNP Paribas, the Prince Albert II Foundation and The Good Investors are investing the millions in Protix. This new financing is also supported by existing shareholders Aqua-Spark, Rabo Investments and Invest-NL, the company emphasizes.
Protix claims to be the global market leader in insect-based ingredients. According to the company, the capital injection emphasizes the potential of the fast-growing insect ingredients market. Protix produces ingredients from insects and breeds larvae of the Black Soldier Fly (BSF). The insects are fed from organic by-products from the food industry. Protix sells the insects as a protein ingredient for various pet foods, fish, chickens and other animals.
Important step towards further exponential growth
Protix wants to take the step to the next growth phase of the group: a worldwide expansion, building new facilities and increasing capacity. CEO and founder Kees Aarts says in the statement: "We are very happy to have such an impact-oriented group of investors
that supports our mission to bring the food system back into balance with nature. Continued interest from both financial institutions and impact investors reinforces our step-by-step approach to scaling our business. This is an important step towards further exponential growth.”
Protix opened a large production location in Bergen op Zoom in 2019† The opening was performed by King Willem-Alexander at the time.
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