Nutrition Technologies closes $20 million equity venture

The company manufactures sustainable animal feed ingredients and biofertilizers. It sees in insects a “great potential” to contribute to global greenhouse gas emissions targets. It will also help to improve food security and reduce waste streams in low-energy environments.

Nutrition Technologies explained that it will use the $20 million to expand its facility in Iskandar Puteri (Malaysia) and launch a new joint venture project in a second country.

“We believe our technological developments can help address some of the world’s most critical problems and are highly motivated to accelerate expansion as quickly as possible,” said COO Charlie Carter.

CFO Richard Hayler added that the company is “strategically positioned to lead the next agricultural revolution.”

New markets

The company also plans to boost exports to key markets such as South Korea, Japan, Indonesia, Thailand, Vietnam, the Philippines, and Chile.

In addition, it will expand its research and development activities in Singapore and commercial activities in the United Kingdom and other European countries.

The Asian company, founded in 2015, began a joint venture last May to develop a new pet food product based on black soldier fly larvae (BSFL).