SINGAPORE- Nutrition Technologies, a biotech company headquartered in Singapore and operating in Malaysia, has welcomed Bunge Ventures, the for-profit principal investing arm of Bunge, as its newest investor.
Tom Berry, Co-CEO and Co-founder of Nutrition Technologies expressed his excitement over Bunge Ventures coming in as an investor in his announcement.
“Their global network and experience in the agribusiness sector are unrivaled, and this investment will allow us to scale our tropical bioconversion system and make insect-based products a mainstay ingredient of the future,” Berry commented.
Nutrition Technologies specializes in the manufacture and supply of insect meal, oil, and bio-fertilizers to feed the growing agriculture and feed industries worldwide.
The biotech company has conducted extensive research and development, developing a unique biotechnology approach within the insect sector.
Its proprietary controlled industrial microbial decomposition process uses beneficial Black Soldier Fly Larvae (BSFL) to provide a zero-waste, low-energy, and low-cost production model.
The company’s patent-pending fermentation technology also provides a scalable platform for a range of insect-based products for crop health and animal feed.
“This has not only resulted in our ability to out-compete competitors on pricing but also carbon emissions and sustainability credentials,” said Nick Piggott, co-CEO and co-founder of Nutrition Technologies.
Being a tropical species, the Black Soldier Fly grows rapidly and efficiently in the ambient Singaporean and Malaysian climate, resulting in minimal energy requirements in the rearing process and making it quite sustainable.
Market research shows that the global insect protein market alone is estimated to be worth US$343 million in 2021 and is likely to grow at a CAGR of 26.49% to reach US$1.3 billion by 2027.
This sector is a sustainable solution that minimizes multiple unsustainable practices, and it has seen investments totaling nearly US$1 billion.
However, with multiple technological hurdles, many companies are yet to attain profitability.
In other news, Nutrition Technologies recently signed an MoU partnership with Sumitomo Corporation to distribute products in Japan.
Additionally, the company launched an organic bio-fertilizer, Diptia™, derived from fermented insect frass designed with antifungal properties.