Roslin Technologies invests in insect farming technology firm Protenga
Roslin Technologies, the UK’s specialist AgriTech venture builder, has invested in Singapore-based Protenga, a business which farms black soldier fly insects to produce animal feed and fertiliser.
As part of Roslin Technologies’ ambitious programme, a bespoke genetic nucleus facility is being built near its HQ, which will focus on applying enhanced breeding technologies to develop improved insect lines together with Protenga for the global market.
These investments align with Roslin Technologies’ focus on developing alternative protein sources to help overcome the impending global food deficit and are central to Protenga’s mission to provide sustainable food sources to livestock, aquaculture and pets. Growing insects uses less water, space, energy and time than growing other food sources. Further, Protenga’s production line also generates organic material for fertiliser, through a process similar to composting.
This initiative supports Roslin Technologies’ strategy of building a unique AgriTech venture portfolio to develop sustainable businesses and value-chain solutions in protein production technology innovation. The investment has been supported with co-funding from SEEDS Capital, the investment arm of Enterprise Singapore, corroborating the company’s ambition to support sustainable innovative businesses in new fast-growth markets.
Glen Illing, CEO of Roslin Technologies, says: “This investment is the start of our journey into the insect protein and nutrition market. Protenga has the right technologies, capabilities and culture to succeed in providing new sustainable production and waste bioconversion practices using black soldier fly. We are also excited about applying enhanced breeding technologies to develop improved insect lines from a new genetic nucleus facility to be built soon near Edinburgh. Protenga is at the cutting edge of sustainable protein production and is the next important building block in our portfolio of AgriTech ventures.”
Leo Wein, CEO of Protenga, says: “We are very excited to partner with Roslin Technologies’ team to drive and scale up our insect production and bioconversion technologies together across our key markets. We are also delighted to receive the support and funding from SEEDS Capital in our pursuit of driving necessary change in the global food supply chain. Production and bioconversion opportunities using the black soldier fly platform are enormous and working with Roslin Technologies provides the perfect opportunity to expand our capabilities.”
Geoffrey Yeo, General Manager of SEEDS Capital, says: “Protenga’s proprietary solutions in black soldier fly production and waste bioconversion enables the company to have a differentiated and scalable business model in the insect protein space, and addresses the growing gap in the demand and supply of animal feed. The investment in Protenga builds on our existing focus in agrifood technologies and further develops the alternative protein ecosystem in Singapore. We are delighted to be supporting Protenga as they continue to grow and expand their operations.”