The deal is expected to increase the role of insects as a mainstay ingredient.
Nutrition Technologies is known for its proprietary process that uses black soldier fly larvae (BSFL) to bio-convert food waste and industrial organic by-products diverted from landfills using its patent-pending fermentation technology.
The company has yet to disclose Bunge Ventures’ investment. However, Co-CEO and Co-Founder Tom Berry states, “This investment will allow us to scale our tropical bioconversion system and make insect-based products a mainstay ingredient of the future.”
Commending Bunge Ventures, he adds, “Their global network and experience in the agribusiness sector are unrivaled.”
In the last year, the company has partnered with a Japanese firm and began shipping insect meal and insect oil to Europe and the UK to produce animal and aquafeed products. This move is Bunge’s second agribusiness deal in recent times.
The insect protein market is expected to scale up to $1.3 billion (€1.18B) by 2027.
The latest articles
Data reveals shifting trends in UK pet products and brands
GlobalPETS analyses a market report on the popularity of pet products and brands in the British pet industry.
Trends & Insights
16 Sep 2024
Analysis: a new life for food waste in pet food?
Experimental projects in India, Australia and Germany are turning food scraps, meat waste and fungi into pet food.
Pet Food
16 Sep 2024
Hong Kong government celebrates e-commerce shopping festival
Pet care retailers participated in the event to enhance their penetration into Mainland China, the world’s largest e-commerce market.
Global Pet Industry
13 Sep 2024
GET THE NEWSLETTER
Weekly newsletter to stay up-to-date
Discover what’s happening in the pet industry. Get the must-read stories and insights in your inbox.