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Friday, January 27, 2023

French insect food company sets up shop in the US and Mexico

French group Ynsect, a specialist in the production of protein and feed from insects, plans to build two hatcheries in the United States and Mexico, announced a statement Tuesday.

In the United States, Ynsect signed a “protocol of agreement” with Ardent Mills, an American giant in the milling industry, for a joint project on the Beetle.

The goal is to produce 50,000 tonnes of material, Ynsect’s co-founder and president explained to AFP Antoine Hubert, who estimated that investment in the site, which will open within a year, would be around “$100 million”.

Ynsect also signed “a joint development agreement with Corporativo Cosmos in Mexico” to “set up an insect hatchery” near Mexico City, with an investment and production program similar to the manufacturing plant in the United States.

“It is important to position ourselves internationally, we have the advantage of several years but we see how the sector is activating”, indicated Antoine Hubert.

Ynsect has a factory in France near Amiens (North), with an estimated order volume of over $200 million.

The company specializes in mealworms, which are then used to make protein in oil or powder form to feed farm animals, rather than using fish-based food.

Ynsect, established in 2011, also produces pet ingredients and organic fertilizers from beetle droppings.

CLA / UH / JZ / MB

AFP

Conocé Trust Project
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