InnovaFeed, the market leader in insect protein for aquaculture, has announced that it has received €2 million in funding from Bpifrance under the Prêt Amorçage Investissement (PAI) and Aide pour le Développement de l’Innovation (ADI) schemes. This funding will allow InnovaFeed to continue optimising its insect breeding processes at its new site and to further improve the performance of its products.
INSECTS RESPOND TO A CRUCIAL CHALLENGE OF THE COMING DECADES
Faced with a growing global deficit of quality proteins (estimated at 60 million tonnes by 2030), their production will be one of the key issues of the coming decades. The situation is particularly critical in Europe, where 80% of the protein we consume is currently imported (mainly from soya). Insects, because of their exceptional capacity to valorise proteins from all types of biomass and reintroduce them into the food chain, are an excellent solution to address this nutritional challenge. 2018 is a pivotal year in the development of the insect production sector with the effective implementation of European regulations authorising insect proteins in aquaculture feed.
AN AMBITIOUS INDUSTRIAL RESEARCH AND DEVELOPMENT PROJECT SUPPORTED BY THIS AID
Aware of these issues, InnovaFeed has confirmed for several years the potential of Hermetia Illucens, an insect with exceptional nutritional qualities, to produce proteins for animal feed and in particular for farmed fish. By offering a natural, healthy and competitive raw material, InnovaFeed wishes to contribute to the development of sustainable aquaculture, in close collaboration with all the players in the fish farming sector, who are already driving forces in terms of environmental innovation. In this respect, the first trout fed with InnovaFeed insects have been sold at Auchan for a few weeks.
The “Insect’Up” programme supported by this aid is a continuation of previous successful research programmes. InnovaFeed’s objective now is to continue to optimise the industrial and environmental performance of its production model and to make the best use of the various possible products extracted from its insects.
Bastien Oggeri, co-founder of InnovaFeed, reacts: “We have achieved unparalleled performance in zootechnics from our Hermetia Illucens insect. InnovaFeed has thus been able to build an extremely efficient business model that meets ambitious specifications, both economically and socially and environmentally. We are very proud that Bpifrance continues to support us in our development.
Taline Karch, Innovation Officer at Bpifrance, comments: “In a favourable legislative framework, Innovafeed has been able to structure itself with an experienced team and develop an innovative and efficient technology. With the alternative protein resource that insects represent, the company stands out for its positioning on the fast-growing aquaculture market and wishes to continue its R&D efforts. To this end, Bpifrance is supporting them via an innovation grant. In addition, the increase in their production capacity on a new industrial site will be financed by the seed investment loan in addition to a fundraising carried out at the end of 2017 and the support of banking players and local authorities”.