Paris, France-based Ÿnsect, an insect-farming start-up, announced it plans to expand in U.S. with construction on a new farm slated for 2023.
The company announced a Series C funding round in October 2020 that brought its total funding to USD 425 million (EUR 396 million), and used that funding to begin construction of the world's largest insect farm, located in Paris. The company said it completed a mealworm farm in Nebraska, U.S.A., in March 2022, and expects construction of the additional production site to begin by the end of 2023, the company said in a release.
Ÿnsect did not disclose where it was planning to construct the new facility, but said it plans to explore a potential partnership with Ardent Mills, a flour-milling and ingredient company, as part of the expansion.
"Ynsect aims to help contribute to reinventing the global food system, while also focusing on sustainability,” Ÿnsect CEO and Founder Antoine Hubert said. “We are excited to examine potential opportunities with the North America leader in flour milling. This exploration marks the start of potential collaborations between two key players within the global food industry."
Ÿnsect uses a patented process to raise buffalo and molitor mealworms in automated vertical farms. Its planned farm in Paris will produce up to 200,000 metric tons of ingredients per year when fully operational, it said.
Ÿnsect said it plans to strategically expand its production across “all continents” and establish relations with local wheat companies as part of its business development. The company said it takes its mealworms and creates sustainable ingredients to feed animals, plants, and humans.
Ardent Mills Chief Growth Officer Angie Goldberg said the company sees big potential in a partnership with Ÿnsect.
“We see many synergies with Ÿnsect – as we both strive to transform the way the world is nourished,” Goldberg said. “We are excited to be exploring potential sustainable food and ingredient opportunities with Ÿnsect, a company that has developed a unique expertise in insect-based ingredient production.”
Ÿnsect has studied its products as a solution for aquaculture feed, and according to the company its products raise the yields for rainbow trout aquaculture operations by 34 percent, and reduced mortality in shrimp farms by 40 percent.
The company also created ŸnOil and ŸnMeal, insect-based oils and feed for the aquaculture industry, which have already been used successfully in aquaculture operations.
Photo courtesy of Ÿnsect
