InnovaFeed, leader in the production of insect protein for aquaculture, secured €15M through funding with AlterEquity3P, Finovam Gestion, Nord Création (Group IRD), Nord France Amorçage (advised by Siparex) and several entrepreneurs. Following the launch of its 1st industrial production site mid-2017 – the largest in Europe -, this new financing round will enable InnovaFeed to deploy a second production unit ten times larger, accelerate product commercialization and contribute to the growth of a sustainable food industry
INSECTS: A PILLAR OF TOMORROW’S FOOD INDUSTRY
With a growing global deficit in high quality proteins (60 million tons by 2030), protein production will be one of the key issues of the upcoming decades. The situation is particularly precarious in Europe, where today 80% of crop protein is imported (mostly soybean meal). Insects, thanks to their ability to convert low-value biomass into high quality animal proteins and reintroduce them in the food chain, is emerging as an excellent solution to address this nutritional challenge. 2018 will be a turning point for the development of the insect production industry with the implementation of the new European regulations allowing the use of insect protein in aquaculture.
A PERFORMANT AND SUSTAINABLE PRODUCTION MODEL DEVELOPED BY INNOVAFEED
Aware of these challenges, InnovaFeed has confirmed in the past years the potential of Hermitia Illucens, an insect with exceptional nutritional qualities, to produce protein for animal feed, more specifically for aquaculture. By offering a natural, healthy new ingredient for fish feed, InnovaFeed wishes to contribute to the rise of a sustainable aquaculture and to the preservation of oceanic resources. Indeed, current wild fish stocks will not be sufficient to meet the growing needs of aquaculture. After several years of research at its Génopole R&D facility (biocluster of reference in France), the company has launched its industrial production in 2017. Their process combines state of the art zootechnical research with a performant industrial model. InnovaFeed’s insects are fed with by-products from the agro-industry, enabling a short loop valorization of resources which are widely available and with few outlets. Through this virtuous cycle, InnovaFeed creates value that benefits the local economies around its production sites. Its first factory, located in the Hauts-de-France Region is currently the largest insect production facility in Europe with a capacity of 1 000 tons per year.
AN AMBITIOUS INDUSTRIAL PROJECT SECURED BY THIS NEW FUNDING ROUND
This factory is only the first step of InnovaFeed’s industrial deployment to address the colossal needs of the aquaculture industry. With 15 Million euros secured, InnovaFeed can pursue its ambition: set up the next production unit with a capacity 10 times superior to the current one. InnovaFeed is proud to collaborate with renowned investors who share the same vision: “contribute to the emergence of a new, healthier, more sustainable and more natural food production model”, including:
- Alter Equity, an impact investment fund,
- Finovam Gestion, Nord Creation (Group IRD), and Nord France Amorçage (advised by SIPAREX), regional investment funds
- Investing entrepreneurs, including Emmanuel Butstraen (President of Novecare Solvay), Jean-Pierre Princen (Ex-CEO of Goëmar), Olivier Duha and Frédéric Jousset (Founders of Webhelp), Matthieu Pélissié Du Rausas (Senior Partner at McKinsey), Sébastien Breteau (CEO of AsiaInspection), Marc-Antoine de Longevialle et Benjamin Cardoso (Founder of LeCab), Rodolphe Carle (Founder of Babilou), and associates of Accuracy.
InnovaFeed also benefits from the support of many public and private stakeholders at the regional, national and international levels such as the BPI, the European Commission, FranceAgriMer, the Ministry of Ecological Transition and the Crédit Agricole bank.