Nutrition Technologies has received an investment from Bunge Venture’s. The insect business is famous for using black soldier fly larvae (BSFL) to biologically transform food waste and industrial organic by-products under its its patent-pending fermentation technology.
Although, the deal has not yet been disclosed, Co-CEO and Co-Founder Tom Berry comments, “This investment will allow us to scale our tropical bioconversion system and make insect-based products a mainstay ingredient of the future.”
Regarding Bunge Ventures, he continues, “Their global network and experience in the agribusiness sector are unrivaled.”
In 2022, Nutrition Technologies has cooperated with a Japanese business in order to distribute its insect meal and oil to animal food processors in Europe. For Bunge, this is the second deal concerning agribusinesses in short time.
According to industry experts, the market for insect protein is forecasted to increase to $1.3 billion (€1.18B) by 2027.
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