S2G Investments and Ocean 14 Capital Fund I entered into a joint investment agreement with insect producer Enthos Circular Feed Technologies.
The investment will support Enthos, a flagship facility in Colombia set to become one of the largest in Latin America dedicated to using insects to upcycle organic waste into food-grade protein and oil products for the animal and aquafeed industry. The conversion process relies on Black Soldier Fly larvae, protein-rich insect meal, valuable oils, and mineral-rich organic fertilizer with minimal environmental impact.
More than USD 1 trillion worth of food is wasted each year, with food waste landfills contributing 8% to 10% of total agrifood system emissions, according to the 2024 Food Waste Index Report. Diverting 1% of global food waste to Black Soldier Fly production could yield an estimated 332,000 metric tonnes of protein annually and one million metric tonnes of organic fertilizer, requiring minimal resources compared to traditional livestock and generating significantly lower greenhouse gas emissions (about 0.017 kg CO2-eq per kg protein versus 57–500 kg CO2-eq per kg protein for livestock). By converting waste back into food, Enthos contributes to establishing a circular food economy and more sustainable food production.
“Turning organic waste into high-value protein and oils has the triple benefit of sustainably feeding more people, reducing ever-growing organic waste volumes and lowering methane volumes emitted from landfills,” said Andreas Grimminger, chief executive officer and co-founder at Enthos, in a press release. “The Black Soldier Fly larvae are ferocious consumers of food waste and grow over 200 times in a feeding period of 15 days.”
Fishmeal and fish oil are used in aquaculture to feed farmed fish. “From our point of view, insect meal produced by Enthos is a key alternative to the fishmeal used in aquaculture, with aquafeed remaining one of the largest applications of fishmeal globally,” said Piers Lakin, principal at Ocean 14 Capital Ltd. “As fishmeal is a limited resource with production volumes subject to environmental fluctuations its use as the sole protein source for fish production is not a sustainable option either economically or environmentally, so we see insect protein as an integral part of a portfolio of alternative proteins that we see reducing the reliance on fishmeal and fish oil.”
“Enthos stood out to us for its ability to turn waste into a high-value asset that fits seamlessly into global food and feed markets,” said Larsen Mettler, managing director at S2G. “With existing demand from aquaculture and livestock producers, we believe they’re demonstrating that insect protein is a commercially viable, climate-aligned solution.”
