Agronutris: 100 million euros for development projects in French Ardennes
The leading French biotechnology company to specialise in the breeding and processing of insects into proteins, Agronutris, is due to open its first industrial unit in Rethel (Ardennes) by the end of 2022.
With 10 years of R&D in entomology and the agro-industry, Agronutris is one of the most advanced companies in this sector. It is also the only company to have obtained authorisation from the European Commission to market insects for human consumption. Over time, it has developed 3 species for this purpose: the cricket, the mealworm (Tenebrio Molitor) and the black soldier fly (Hermetia Illucens). Its objective is to provide an innovative and sustainable solution to meet protein needs and combat environmental and societal challenges. In addition, Agronutris is committed to an innovative managerial approach, where the business and structuring is focused around the employees.
Accompanied by Ardennes Développement, Agronutris chose Rethel because of its cross-border location and the presence of numerous sources of agro-industry inputs, by-products and co-products, which are used to feed the insects bred in the factory. The first line of production at the industrial site will focus on the breeding and processing of the black soldier fly, intended for the aquaculture and petfood markets. In addition to the enriched flours and oils resulting from this proprietary manufacturing process, the production residues are transformed into organic fertiliser, which in turn will nourish the region’s crops, thus creating a circular economy cycle. Ultimately, nearly 70,000 tonnes of local co-products should be developed and around sixty jobs should be created in the Ardennes.
The fundraising of 100 million euros, including 50 million in equity, will enable the company to expand in the Ardennes and finance the establishment of a second larger site. Agronutris has a 10% subsidy provided by the State under the France Relance plan (€8 million) and by the Grand-Est region.
As the forerunner of a new mode of production and consumption as well as being innovative from a business point of view, Agronutris has found just the right conditions to favour its growth in the Grand Est and more specifically French Ardennes.
By Ardennes Développement, the Ardennes economic development agency - ardennes-developpement.com
©Agronutris