Key Takeaways
- Innovafeed has closed a EUR 51 million funding round, backed by existing shareholders including Creadev, QIA, Temasek, FFC, ABC Impact, and ADM, to fund a new phase of commercial deployment at its Nesle production site.
- Since entering production, the Nesle facility has produced over 15,000 tons of insect protein and oil, achieved a tenfold increase in production volumes, and reduced production costs by seven times.
- Innovafeed describes its Nesle site as the world's largest insect ingredient facility, approximately three times larger than the next biggest global producer.
- The company is reorganizing operations, consolidating zootechnical R&D from its Gouzeaucourt site into Nesle, in a plan that involves a reduction of approximately 60 positions.
- Innovafeed's Hilucia insect-based ingredient range delivers a 70% to 90% reduction in carbon emissions compared to conventional alternatives, according to the company.
Innovafeed Closes EUR 51 Million Round and Shifts to Commercial Deployment at Nesle Facility
Innovafeed, a French producer of insect-based ingredients for animal nutrition, pet food, and agriculture, has completed a EUR 51 million funding round and announced a reorganization of its activities around its Nesle production site in France. The round, backed largely by existing shareholders including Creadev, QIA, Temasek, FFC, ABC Impact, and ADM, marks the transition from an industrialization phase into a commercial deployment focus for the company's Hilucia insect ingredient range.
The Nesle site, which processes black soldier fly (Hermetia illucens), has now produced over 15,000 tons of insect-based protein and oil since entering production. Over that period, production volumes increased tenfold and production costs fell by a factor of seven. Innovafeed describes the facility as currently the world's largest of its kind, with capacity approximately three times greater than the next largest global producer.
“The successful scale-up of our industrial model marks a major milestone for Innovafeed today and opens up a new phase of commercial deployment,” said Clément Ray, CEO and co-founder of Innovafeed. “Innovafeed is now focusing its efforts on accelerating the development of value chains for its ingredients, capturing the full value of their multiple functional properties improving animal health and growth, which have been validated and proven for ten years now.”
Reorganization Reduces Headcount as Innovafeed Consolidates R&D into Nesle
As part of the transition, Innovafeed is consolidating zootechnical R&D activities from its Gouzeaucourt site into Nesle, in a restructuring that involves a reduction of approximately 60 positions, with two-thirds of the impact at Gouzeaucourt. The company said it will carry out the process within the framework of social dialogue with its Social and Economic Committee and competent authorities, with dedicated support for affected employees.
Revenues have doubled year-on-year, driven by partnerships in aquaculture and pet food. The Hilucia range is reported to deliver a 70% to 90% reduction in carbon emissions compared to conventional animal nutrition ingredients, based on the company's industrial symbiosis model at Nesle.
Commercial Focus Ahead: Aquaculture, Pet Food, and New Product Applications
The new funding will be directed toward accelerating commercial development of the Hilucia range in functional aquaculture and pet food segments, investment in equipment for new product applications, and optimization of existing production lines. Key shareholders expressed confidence in Innovafeed's industrial foundation and growth trajectory ahead of the next commercial phase.
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