Italian biotech startup secures public funding for a pilot production facility

Over EUR 600,000 in non-dilutive funding will help finance the development of Ittinsect’s first plant for the production of sustainable proteins.

Ittinsect team. Credits: Ittinsect
January 30, 2024

A funding boost from Invitalia, Italy’s Development Agency, is set to propel the realization of Ittinsect's pilot plant, which will produce 2,500 tons of sustainable proteins when operating at full capacity. This marks a key step toward the biotech company's goal of scaling up to an industrial-scale production of proteins derived from 100% circular economy processes by 2025.

Ittinsect will deploy EUR 602,500 to build a section of its inaugural production facility. The facility will 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 specialized personnel and the pursuit of new patents, 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, “we are honored 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 extend the public support to an international level.”

Invitalia's funding, facilitated through the Smart Start Italia initiative, totals EUR 482,000, covering 80% of the EUR 602,500 project expenses.