Bunge invests in insect firm Nutrition Technologies
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.
