Canadian insect protein player secures investment to boost production
Entosystem aims to add a second factory to meet the increased demand for insect protein in the pet food industry.
Quebec-based Entosystem has secured a CAD58 million ($42M/€38.9M) injection from investment firms Idealist Capital and Fondaction, as well as agricultural food firm Sanimax.
The expansion is expected to increase production volume and meet the current demand for “sustainable, nutrient-rich and hypoallergenic protein alternatives” in the pet food industry, broadening its existing supply from the urban poultry sector.
Using mechanical processes and thermal treatments, the Canadian firm uses black soldier fly (BSF) to upcycle organic waste into carbon-negative protein. This protein prevents carbon emissions and also removes carbon dioxide from the atmosphere.
Its existing carbon-negative plant in Drummondville, Quebec, has an annual production capacity of 5,000 tons of protein meal and 15,000 tons of fertilizer.
Expanding capabilities
The investment is also expected to accelerate Entosystem’s production capabilities and contribute to the construction of a second commercial plant, the location of which has yet to be decided.
“In parallel with scaling up our operations, we are actively searching for the best region to establish our next facility in North America,” co-founder Cédric Provost tells GlobalPETS.
The firm is also looking for “strategic partners” to support this development and explore new opportunities in the pet food and aquaculture sectors.
(Photo credit: Entosystem)
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