SINGAPORE — On June 26, Nutrition Technologies received an investment from Bunge’s principal investing arm. The company plans to use the investment to help scale its technology for producing insect-based ingredients.

Founded in 2015, Nutrition Technologies manufactures sustainable ingredients for use in animal feed, as well as biofertilizers, using a combination of black soldier fly larvae (BSFL) and microbes. The company recycles nutrients from byproducts produced by the agricultural and food industries to help reduce food waste and improve food security.

According to Nutrition Technologies, its biotechnological production approach offers zero-waste, low energy and low-cost benefits.

“This has not only resulted in our ability to out-compete competitors on pricing, but also on carbon emissions and sustainability credentials,” said Nick Piggott, co-chief executive officer and co-founder of Nutrition Technologies.

Research shows significant growth ahead in the insect protein market. According to Nutrition Technologies, the global insect protein segment is expected to grow at a 26.5% CAGR, reaching $1.3 billion by 2027. Additionally, the overall sector has received a total of nearly $1 billion in investments. Despite the sector’s consistently increasing value, several technological challenges have prevented a majority of companies from reaching industrial scale, according to Nutrition Technologies.

Nutrition Technologies' facilitySource: Nutrition Technologies

Nutrition Technologies’ uses a patent-pending fermentation technology to produce its sustainable ingredients, which provides a scalable platform for crop health and animal nutrition.

Bunge joins several existing investors in Nutrition Technologies, including PTT Ventures, Sumitomo Corporation, ING Sustainable Investments, Mandala Capital, Openspace Ventures, SEEDs Capital, Hera Capital and others.

“We are very excited to have Bunge Ventures as a new investor,” said Tom Berry, co-chief executive officer and co-founder of Nutrition Technologies. “Their global network and experience in the agribusiness sector are unrivalled and this investment will allow us to scale our tropical bioconversion system and make insect-based products a mainstay ingredient of the future.”

The investment follows several significant business advancements for Nutrition Technologies. Last year the company partnered with Pet World Nutritions to launch Malaysia’s first sustainable commercial dog food. In September 2022, it raised $20 million in a funding round. This past March, the company received approval to import its products into the European Union, and in April, it signed a distribution agreement with Sumitomo Corporation.

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