EIB Pledges EUR 37 Million Funding to Dutch Insect Protein Firm, Protix
An important evolution in the alternative protein sector has unfolded as the European Investment Bank (EIB) has agreed to back the Dutch firm, Protix, specializing in insect protein. A loan amounting to EUR 37 million is assured, intended for the launch of a new production unit in Poland. This step promises to elevate the company’s sustainable protein output on a global level. The news has emerged from the source of Reader Wall.
Backing Innovations
A part of the InvestEU goals of Sustainable Bioeconomy and Circular Economy gets manifested in EIB’s pledge of support to Protix. There is a keen investment in innovative pursuits, research and development, and human resources, highlighting the bank’s dedication to economic growth. Such strategic support will provide Protix with the impetus to spread its operations and deploy its technologies in the bioeconomy industry.
Finding Success in Sustainable Protein Production
Protix, a frontrunner in the domain of alternate protein solutions, has pioneered in producing insect protein for the manufacture of animal fodder, pet feed, and organic fertilizers. The anticipated production facility in Poland is predicted to be three to four times more significant than the existing factory located in the Netherlands. This considerable increase will meaningfully enhance the firm’s plans for international amplification.
Collaboration with Strategic Intent
To complement the EIB loan, Protix has also secured an equity investment directly from Tyson Foods. This collaborative endeavor has birthed a joint venture targeting the construction and operation of an insect ingredient-focusing facility in the United States. This factory will be the most substantial of its kind, transforming food manufacturing surplus into proteins and lipids belonging to the Black Soldier Fly category. These will then serve as ingredients in pet food, aquaculture, and livestock feed. Additionally, Protix gets an added advantage of Tyson Foods’ surplus, intended to be used as feedstock during production.
In essence, the support extended by EIB, complemented with the strategic collaboration with Tyson Foods, marks a critical threshold in the expansion plans of Protix on an international stage. Established since 2019, the firm focuses on lucrative yet cost-efficient growth whose commitment to sustainable protein production gets reiterated from these recent developments. These crucial steps navigate the way forward for Protix’s forthcoming initiatives.
