

EntoGreen, an Ingredient Odyssey (IO) brand focused on the circular economy in the agri-food sector, has reached an investment that will allow it to build the first industrial unit for bioconversion with insects. The Santarém-based company will use insects to obtain protein for animal feed, non-chemical fertilizers, and insect oil from plant waste. In addition, EntoGreen will also invest in building its own R&D facility in the Industrial Zone of that same region.

For this purpose, IO has raised a combination of funds, equity, and debt, amounting to 13,36M€, and to implement the project, the company will continue to raise debt.
This is EntoGreen's third campaign, after raising 200.000€ through Goparity's investment community (EntoGreen I and II). The previous campaigns were focused on acquiring a robot that allows performing the inoculation process in an automated way with considerable gains in productivity, eliminating the possibility of human error, and improvements in energy efficiency in the process.
The promotor is now looking to raise another 300.000€ for final industrial investments - to strengthen the company's cash flow, allowing final payments for the installation and assembly of the industrial unit in Santarém to be made on time, while the promotor waits for their tax reimbursement and to receive Portugal 2020 funds.
The new unit, under final construction and scheduled to start production in October 2022, is innovative in the way it uses insects as a bioconversion tool. The EntoGreen technology uses the Black Soldier Fly as a biodigester and this new unit will annually convert 36,000 tons of vegetable by-products into 2.500 tons of protein, 500 tons of insect oil for animal feed, and 7.000 tons of organic fertilizer for the soils, giving back to plants and animals nutrients that today are wasted.


The investment, will also support the company in its overall R&D plan which encompasses an estimated investment of €5 million between 2021 and 2026 for new research projects that focus on creating new solutions for environmental sustainability.
At the moment, the company has already been contacted by several interested buyers who all told want to order the totality of the production, which will allow it to obtain an annual sales volume of more than 10 million euros.
Take a look at the constructions process:


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