© Innovafeed
Innovafeed, a producer of insects for animal and aquafeeds, has announced the completion of the third phase of expansion at its production site in Nesle, France.
Now covering a floor area of 55,000 m2, the expansion places the facility as the largest insect production site in the world. This significant milestone follows the company's record-breaking €250 million Series D funding round.
Through this expansion, Innovafeed seeks to demonstrate the acceleration of the insect industry’s development and the success of its business model. The insect producer aims primarily to supply proteins for animal feed while maintaining a low carbon impact.
The low-carbon aquafeed ingredients are increasingly used as an alternative to fish meals and oils by agro-industry leaders, including aquafeed giant Cargill, who are among Innovafeed’s main customers and investors. The urgency of aquafeed companies to find sustainable feed alternatives, such as insect proteins, is driven largely by the increased public awareness of the environmental impacts of traditional ingredients.
Following the first two phases of Innovafeed’s expansion plan, which addressed the technical risks of pioneering a relatively novel industrial sector, this third phase will enable the feed ingredient producer to reach its ambitious targets for production and profitability, meeting the aquaculture industry’s needs for sustainable feed ingredients.
