November 6, 2024

Advancing Digital Excellence

Pioneering Technological Innovation

Global investments and tech innovation in insect protein

Global investments and tech innovation in insect protein

Spanish biotechnology firm Tebrio has closed a €30m (US$32.4m) funding round to accelerate its production expansion. This investment follows the announcement from Canada’s Entosystem earlier this month that it had secured CAD $58m to support the construction of a second commercial facility.

Meanwhile, UK insect farming technology specialist, Entocycle, reports on trial work it conducted with US based EnviroFlight, a Darling Ingredients owned company.

Tebrio’s expansion plans with new funding

Salamanca-based Tebrio, a mealworm-based ingredients producer, recently secured €30m in funding from a raft of investors including Banco de Santander, Sodical Instituto Financiero de Castilla y León, GCP, and the CDTI Innvierte Economía Sostenible.

The investment combines venture debt and private equity, which will enable Tebrio to expedite the construction of a new 90,000-square-meter production facility capable of producing over 100,000 tons of products annually.

Adriana Casillas, CEO and co-founder of Tebrio, commented on the financing: “This new round of investment in our company validates our industrial model based on proprietary technology. That model allows us to produce at competitive prices in the markets where we operate, thus serving as a platform to expand our operations to different geographic markets.”

Founded in 2014, Tebrio currently operates a 3,500-square-meter facility, producing mealworm-derived protein, fat, biofertilizer, and chitosan. The company also plans to triple its workforce over the next two years as it scales up production to meet growing global demand for sustainable protein sources.

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