Bunge Ventures has invested in Nutrition Technologies on 26 June in order to increase the manufacturer’s production technology .
The ingredients producer was founded in 2015 and has specialized on the production of sustainable ingredients made from agricultural and nutrional byproducts aiming to minimize food waste. The manufactured food ingredients and biofertilizers contain a mix of black soldier fly larvae (BSFL) and microbes.
On its own account, the production features zero-waste, low energy and low-cost advantages.
“This has not only resulted in our ability to out-compete competitors on pricing, but also on carbon emissions and sustainability credentials,” said co-CEO and co-founder Nick Piggott.
The ingredients manufacturer expects the insect protein sector to grow at a 26.5% CAGR achieving $1.3 billion by 2027. In total, the sector has obtained nearly $1 billion in investments.
For ingredient production, Nutrition Technologies utilizes a fermentation technology that was applied for a patent. The company already has several investors next to Bunge including ING Sustainable Investments, PTT Ventures, Mandala Capital, Openspace Ventures, Sumitomo Corporation, SEEDs Capital, and Hera Capital.
“We are very excited to have Bunge Ventures as a new investor,” said Tom Berry, co-CEO and co-founder of Nutrition Technologies. “Their global network and experience in the agribusiness sector are unrivalled and this investment will allow us to scale our tropical bioconversion system and make insect-based products a mainstay ingredient of the future.”
Nutrition Technologies has lately made some important business decisions. Last year, the manufacturer launched the first commercial dog food in Malaysia in cooperation with Pet World Nutritions. Last year in September, it could also raise $20 million in funding and in March, it was approved for product import into the EU. Recently in April, there was concluded a distribution agreement with Sumitomo Corporation.