Impact investors step into the growth plan of Protix; European Circular Bioeconomy Fund (ECBF), BNP Paribas, the Prince Albert II Foundation and The Good Investors. This new funding is also supported by existing shareholders Aqua-Spark, Rabo Investments and Invest-NL. Protix is the worldwide market leader in insect-based ingredients and will use the proceeds for further international expansion and ground-breaking R&D. The successful capital raise underlines Protix’ leading position in the fast-growing insect-based ingredients market.
Protix produces natural and sustainable ingredients from insects and farms larvae from the Black Soldier Fly (BSF). Organic waste from the food industry serves as feed for the insects. In turn, the insects are used in various feeds for for pets, fish, chicken and other animals, just as in nature. In this way, the food cycle closes and insects, as an alternative source of protein, help prevent over-fishing and deforestation for soy cultivation. As a business, Protix has proven its resilience and is producing at a commercially viable and industrial scale. Protix’ next growth phase is all about global site expansion, building new facilities, and increasing capacity.
Exponential growth
CEO and founder Kees Aarts says: “We are very pleased to welcome such an impact-oriented group of investors supporting our mission to bring the food system back in balance with nature. Their support marks an exciting next step for 2022 after a memorable 2021, when we realized continued commercial success, completed an exciting successful breeding program, and strengthened our organization with new talent in key positions. Continued appetite from financial institutions and impact investors alike reinforces our stepwise approach of scaling our business. This is an important step towards further exponential growth.”
Mike Velings and Amy Novogratz, cofounders and managing partners of Aqua-spark says: “Scaling alternative aquafeed ingredients was a top priority for us when we launched Aqua-Spark in 2015. So it’s with big excitement that we continue to support Protix as they once again move to the next level of scale, from the largest insect factory in the world producing at capacity to this next phase of exponential growth, they are leading the way in making insect protein an accessible, viable global solution.”
“We are excited to become a shareholder in Protix” said Peter Nieuwenhuizen, Founding Partner of ECBF. “With their choice for the fast-growing BSF larvae and an operational factory in the Netherlands, we believe they have all the know-how to be leading the insect industry.”
Sebastien Renaud, Investment Director, Ecological Transition Capital within BNP Paribas Principal Investments says; “Created in 2009, Protix has been instrumental in proving that insects are an untapped and sustainable source of natural protein to address food challenges. The investment by our Principal Investments department in this pioneer company is a great illustration of our long-term commitment to support young and innovative companies with one clear ambition for BNP Paribas: accelerating the emergence of new industries to address major sustainability issues.”
“Our philosophy is to invest in good ideas and good people. Protix is at the epicentre of this investment philosophy.” Says Jérémy Genin, CIO at Monaco Asset Management, ”The impact Protix can have on the planet is significant. More importantly, it is managed by a group of passionate and hard-working individuals led by a visionary CEO”.
