Vinh Hoan, Vietnam’s top pangasius company, has become the strategic partner of Entobel, a producer of insect-based aquafeed protein.
On 26 October, Vinh Hoan announced that it invested in Entobel as part of its strategy to accelerate sustainable aquaculture.
Founded in 2019, Singapore-based Entobel operates an insect-production plant in southern Vietnam, producing black soldier fly larvae used in animal feeds. The company expects to commission a second plant in Vietnam by 2022. In a statement, Entobel said it shares a “common vision for the future of the aquaculture industry” with Vinh Hoan and is “looking to explore various potential synergies.”
“The development of sustainable insect fed seafood with a reduced carbon footprint is part of the future joint efforts,” Entobel said. “The production of insect protein in ideal tropical conditions for the benefit of the local aquaculture is the natural path our industry should take. With this partnership, Entobel continues to reinforce its strong position in Vietnam before initiating its regional expansion.”
In August, Vinh Hoan invested in cell-based crustacean producer Shiok Meats, which is also headquartered in Singapore. And in January, Hong Kong-based Avant Meats – specializing in cell-based “cultivated” fish fillets – announced Vinh Hoan had purchased Vinh Technology Pte Limited, a Singapore-based company with a minority interest in Avant.
In a separate move, Vinh Hoan said on 20 October it has decided to raise the charter capital of its aquafeed plant project, the Feed One in Dong Thap Province, to VND 260 billion (USD 11.4 million, EUR 9.8 million), up from VND 52 billion (USD 2.3 million, EUR 2 million). Vinh Hoan will hold 75 percent of stake in the project after the capital change, down from 96.15 percent previously. The remaining interest is owned by an individual investor.
Vinh Hoan announced 11 August it had transferred the ownership right of a land lot in the My Hiep Industrial Park in Dong Thap to Feed One Company Limited for building the aquafeed plant.
Photo courtesy of Entobel
