Insect actor Protix raises 50 million euros to expand internationally

A Protix spokesperson tells us how the company attracted new investors“They know the sector very well and we have shown our ability to deliver, which convinced them to step in now.”

Existing shareholders: Aqua-Spark, Rabo Investments and Invest-NL, have also invested in the Dutch company, which breeds Black Soldier Fly (BSF) larvae and processes them into ingredients for use in animal feed, food for pets and other applications.

Protix said it would use the proceeds to enable international expansion, long-standing ambition and breakthrough R&D.

“We want to expand outside the Netherlands: in Europe and North America. We are open to partners who are interested as a supplier of raw materials or picking in these regions”, reports the representative.

He will also consider expanding into Asia provided he can identify “the right partners​” to do so.

Protix factory in Bergen op Zoom, The Netherlands © Protix

Regarding planned breakthrough R&D programs, the spokesperson said the company will focus on projects related to genetics, nutrition and new technologies.

Operational Highlights

Protix, which opened its industrial-scale factory in Bergen op Zoom in the Netherlands in 2019, identified continued commercial success, finalizing a selection program, acquiring new talent for key roles and the strengthening of the organization as highlights for the company in 2021.

We have also seen legislative success with the opening of European pork and poultry markets for our products. »

Across all of the industry’s target markets, including plant nutrition, animal feed, pet food and human food, which segments are likely to grow the fastest?

All. The need for sustainable proteins that are low-footprint and circular in nature is essential for our survival and our balance with nature,” added the representative.

Sébastien Renaud, Investment Director, Ecological Transition Capital at BNP Paribas Principal Investments, commenting on the investment in a statement, said: “The investment of our main investment department in this pioneering company is a good illustration of our long-term commitment to supporting young innovative companies with a clear ambition for BNP Paribas: to accelerate the emergence of new industries to meet the major challenges of sustainable development.