© Protix
The European Investment Bank (EIB) has committed to supporting Protix, a producer of sustainable protein used for animal feed and pet food, with up to €37 million in additional funds to help underpin the insect farmers' international expansion.
The agreement was made possible with the support of the InvestEU programme, which aims to trigger more than €372 billion in additional investment in the European Union over the period 2021-27.
International expansion
Protix, a company focused on alternative protein for healthy and sustainable pet food, aquaculture, livestock feed and organic fertiliser, states it has played a key role in the establishment and maturing of the insect-based ingredients industry. Now on an international expansion journey, the company aims to deliver its solutions on a global scale. Protix believes in controlled scaling and the size-optimised development will be three to four times larger than the existing operational facility in the Netherlands.
EIB vice-president Teresa Czerwińska stated in a press release: “Supporting innovative solutions is one of the priorities of the European Investment Bank and we are pleased to start collaborating with Protix. This financing will enable the company to expand its activities and to apply its technologies, which contribute to the sustainable development of solutions within the bioeconomy sector.”
Protix CFO, Lynn De Proft, added: “We are thrilled about this agreement with the EIB, not only for the opportunities it brings for further expansion but also as a resounding affirmation. This support reinforces the fact that our industry is not just here to stay but is poised for significant growth. Following our expansion to the United States and now our ability to do the same in Poland, we are excited to accelerate our mission to bring the food system back in balance with nature.’’
