Ÿnsect furthers its presence in the Americas
The insect company has signed two major agreements to set up production sites in the United States and Mexico.
Insect producer Ÿnsect is accelerating its international position with two new agreements. The company has agreed on a memorandum of understanding with Ardent Mills for an industrial facility in the United States and signed a joint development agreement with Corporativo Kosmos in Mexico. The partnerships in the United States and Mexico reflect Ÿnsect’s development plans to build ten to fifteen farms worldwide by 2030 and expand its activities on all continents.
Aimed to increase easy access to raw materials used to feed the insects, such as agricultural co-products from the cereal industry, the company establishes its operations in agricultural areas. The choice of these strategic locations, with proximity to resources needed, reflects the Ÿnsect’s commitment to limit the impact of its activity on the environment, including CO2 emissions and water consumption.
Ardent Mill’s contract will accelerate Ÿnsect’s implementation in North America
Through this agreement, Ÿnsect continues to expand its insect-based ingredient production activities in the United States. The company will also explore synergies with the North American wheat flour supplier starting the construction of a new site in 2023.
“We have many synergies with Ÿnsect in the sense that both our companies are striving to help positively transform how the world is fed. We are excited to explore sustainable food and ingredient production opportunities with Ÿnsect, which has unique expertise in producing insect-based ingredients,” said Angie Goldberg, director of development at Ardent Mills.
This agreement follows Ÿnsect acquisition of Jord Producers, the group’s first farm on US soil, in Nebraska in March 2022.
Corporativo Kosmos’s contract to establish the first location in Mexico
This agreement marks the culmination of a year-long collaboration between the two companies. Mexico is the leading country in the world in terms of human consumption of insects and insect-based proteins. By this joint development agreement, Ÿnsect will establish and operate the first insect farm in Mexico, with construction to start before the end of 2023. Moreover, the new insect farm will bring Ÿnsect closer to the United States, by far the largest future market for insect proteins.
“We are particularly pleased with our continued collaboration with Ÿnsect, a company that has developed unique expertise in insect production. The future Mexican production site will allow us to combine the best of our expertise to provide a quality and sustainable product offering,” said Jack Landsmanas, president of Corporativo Kosmos.
A symbolic time for Ÿnsect
These agreements were signed just as Ÿnsect puts on track its facility in Amiens, France, with a height of 36 meters and a building surface area of 40,000 square meters. With the arrival of the first insects on site recently, the growth phase has already started. The operation of the facility will be rolled out over the next few months.
With Ÿnsect having already sold more than the capacity of the Amiens site in the coming years, taking on new projects is key to matching the growing demand from its customers.