The fresh funding, the bulk of which has been invested by Invitalia, Italy’s Development Agency, will help Ittinsect to build a pilot plant, which will produce 2,300 tonnes of sustainable proteins for the aquafeed sector when operating at full capacity, in 2025.
The facility aims to prove both the technical and economic advantages of Ittinsect's products at scale, laying the groundwork for the company's first industrial plant. This scale-up will also bolster the recruitment of specialised personnel and the pursuit of new patents, aiming at solidifying Ittinsect's position as the preeminent innovator in the market.
Ittinsect’s CEO, Alessandro Romano, underscored the significance of national support from Italy’s National Development Agency, stating in a press release: "We are honoured to secure this funding, building upon the trust already received from the Lazio Region during the project's pre-seed phase. The backing from Invitalia confirms the regional interest has transcended into a national one. Our goal is now to extends the public support to an international level."