Suppliers' News

Protix raises €50m in equity for international growth

Tuesday, February 8, 2022

Impact investors, European Circular Bioeconomy Fund (ECBF), BNP Paribas, the Prince Albert II Foundation and The Good Investors, step into the growth plan of Protix. This new funding is also supported by existing shareholders Aqua-Spark, Rabo Investments and Invest-NL. The successful capital raise underlines Protix’ leading position in the fast-growing insect-based ingredients market.

Protix produces ingredients from insects and farms larvae from the black soldier fly (BSF). The company’s next growth phase is all about global site expansion, building new facilities and increasing capacity.

CEO and founder Kees Aarts, said, “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, said that “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.”

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