New facility of Ynsect will be true insect hub
Insect producer Ynsect has been awarded a € 20 million grant from the European Commission and a € 3.7 billion European public-private partnership to build an industrial-size facility in northern France.
The facility, dubbed FARMYING, will enable Ynsect to multiply its current production capacity by 50-times. The new facility will be the new hub for 3 raw materials and nutritional suppliers, 1 larvae supplier, 2 research facilities, 4 tech suppliers (including Ynsect), a quality-control specialist, a sustainability consultant, an innovation consultant, 4 end-users and 3 international bio-economy consortiums.
Ynsect produces products from mealworms to be used in animal feed and fertiliser. The company has one operational farm near Dôle, in eastern France. In February 2019, Ynsect also raised $ 125m at Series C breaking the record.
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Source: AgFunder
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