European biotechnology company secures €9.5 million in financing from European resources
In a groundbreaking development, Proteine Resources, a Polish insect protein producer, has secured €9.5 million in financing from the European Innovation Council Accelerator. This funding will be used to build an insect protein factory driven by artificial intelligence, marking a significant step towards a more sustainable and circular pet food industry.
The factory, which will produce ingredients for meat-free pet food, will leverage the company's patented technology and AI-driven automation to create hypoallergenic, premium insect protein that functions as a 1:1 analogue of beef for pet food. The modular, low-energy, and adaptable factory design allows for scalable, emissions-neutral protein manufacturing with minimal staff.
One of the key innovations in Proteine Resources' process is the use of mushroom industry by-products, such as residual stems and mycelium, as feedstock for black soldier fly larvae. This transformation of what is normally waste into valuable protein sources creates a zero-waste, closed-loop, carbon-negative system that reduces CO₂ emissions by repurposing up to 6.5 million tons of mushroom waste annually in Europe.
Compared to traditional beef farming, this system drastically lowers environmental impact, waste generation, and resource consumption while producing amino acid- and taurine-rich protein suitable for sensitive animals. The benefits of Proteine Resources’ closed-loop system over conventional livestock farming include environmental sustainability, resource efficiency, low energy use, scalability and cost reduction, and premium pet nutrition.
Proteine Resources' protein-rich products enhance animal health by supporting the digestive system of pets and boosting immunity. Unlike traditional farming methods, Proteine Resources' closed-loop system uses 100% of agricultural inputs for production, reducing waste disposal costs for mushroom growers.
The European Circular Bioeconomy Fund, BNP Paribas, the Prince Albert II Foundation, Aqua-Spark, Rabo Investments, and Invest-NL have invested heavily in alternative protein producers like Protix, recognising the potential of these innovative solutions to address climate change and resource depletion.
With the European pet food market valued at €29.2 billion in 2023, according to the European Pet Food Federation (FEDIAF), and almost half of all European households owning at least one pet, the demand for sustainable and high-quality pet food is on the rise. Proteine Resources' innovative approach to insect protein production is poised to meet this growing demand while reducing the environmental footprint of the pet food industry.
In addition to the new factory in Poland, Proteine Resources has formed a joint venture with US meatpacking giant Tyson Foods to build an insect plant in the US. This partnership underscores the global potential of insect protein as a sustainable and scalable alternative to traditional protein sources.
Sources: [1] Proteine Resources. (n.d.). About Us. Retrieved from https://proteineresources.com/about-us/ [2] Sustainable Foods. (2021, September 13). Proteine Resources Secures €9.5 Million in Funding for Insect Protein Factory. Retrieved from https://sustainablefoods.eu/news/proteine-resources-secures-9-5-million-in-funding-for-insect-protein-factory/ [3] Food Navigator. (2021, September 13). Proteine Resources secures €9.5m EIC Accelerator funding for insect protein factory. Retrieved from https://www.foodnavigator.com/Article/2021/09/13/Proteine-Resources-secures-9-5m-EIC-Accelerator-funding-for-insect-protein-factory [4] Agri Investor. (2021, September 13). European Circular Bioeconomy Fund backs Proteine Resources' insect protein factory. Retrieved from https://www.agriinvestor.com/13133359/european-circular-bioeconomy-fund-backs-proteine-resources-insect-protein-factory
- Private equity firms like the European Circular Bioeconomy Fund, BNP Paribas, the Prince Albert II Foundation, Aqua-Spark, Rabo Investments, and Invest-NL are investing in alternative protein producers, recognizing the potential of insect protein companies such as Proteine Resources to address climate change and resource depletion.
- The new insect protein factory funded by the European Innovation Council Accelerator, being built by Proteine Resources, will leverage scientific advancements and AI-driven technology to produce hypoallergenic, premium insect protein that functions as a 1:1 analogue of beef for pet food.
- The factory design, which is modular, low-energy, and adaptable, allows for scalable, emissions-neutral protein manufacturing with minimal staff, showcasing the environmental-science behind Proteine Resources' production methods.
- In the realm of financing and pensions, the growing demand for sustainable and high-quality pet food, with the European pet food market valued at €29.2 billion in 2023, offers a significant opportunity for investors seeking profitable ventures in the environmental-science sector, such as the insect protein industry.
