News From Elsewhere Logo Banner

Largest Insect Farm In The World To Open, With $372 Million Investment

Profile picture for user Elsewhere
Submitted by Elsewhere on 2020-Oct-06 Tue 12:31
1694
500Foods shared this story from Google Alert - vertical farming.

Ÿnsect, a French mealworm company, completed a staggering $372 million in funding to build the world’s largest insect farm–the company has now received more investment in total ($425 million) than the entire global insect protein sector has raised to date.

Ÿnsect cultivates mealworm under its own patented process to make digestible protein and fertilizer products. These products can replace animal proteins currently used by fish and livestock farms, as well as animals proteins for pet food and fertilizers.

The Series C funding will enable the French company to complete the farm in the city of Amiens, northern France (it received the first tranche of investment last year) to become the largest global vertical farming company.