Mekong capital announces that the Mekong Enterprise Fund IV (MEF IV) has invested $25 million in entobelpart of the $30 million financing round.

Entobel is a biotech company that produces insect-based ingredients from Black Soldier Flies for various industries, including the animal feed, pet food and fertilizer industries. Currently, Entobel has 3 main products, namely insect meal, insect oil and organic fertilizer.

In early 2019, Entobel built one of the largest insect production sites in the world in Dong Nai Province, Vietnam, with an annual capacity of 1,000 tons of insect meal. Looking ahead, Entobel’s next factory will be operational by 2023, responding to rising global demand while supporting the reduction of the environmental footprint of our global food chain.

The Vietnam site provides Entobel with a significant and sustainable competitive advantage thanks to its tropical climate, abundant raw material resources from Vietnam’s agricultural activities and F&B production, and the growing aquaculture market as the main application of insect protein ingredients.

After 8 years, Entobel has done extensive R&D to perfect the technology to convert food byproducts into insect protein on a large scale with capital efficient technology. With these technological breakthroughs, the company is now ready to scale up its production.

Entobel’s vision is to become a leading producer of insect proteins in the world.

mr. Gaetan Crielaard and Alexandre de Caters, co-founders of Entobel, said:

“We are proud to partner with Mekong Capital and Dragon Capital to build a world-class factory before replicating the model globally. We are convinced that our capital-efficient and robust technology is the right approach for mass scale-up.

With our growing blue chip customer base and world-class industry partnerships for pioneering R&D activities, including new product developments, we ensure our long-term market relevance and competitiveness.”

Mr. Sjoerd Zwinkels, Mekong Capital’s Deal Leader for Entobel, said:

“We are thrilled to partner with Entobel to realize the exciting vision of becoming the world’s leading producer of insect proteins. Entobel’s team is solving one of the world’s major problems by using insects to create a sustainable protein, which will reduce the environmental footprint of our global food chain and make the food value chain safer and more sustainable. This is a true circular economy because they take by-products and convert them into proteins, oil and organic fertilizer. There is virtually no waste.

We believe in the founders, Gaetan and Alexandre, who showed such courage and perseverance to build one of the largest insect protein production companies in the world today, from a small farm in the Mekong Delta to a large industrial facility in Dong Nai. They have proven that insect-based ingredients can be produced on an industrial scale with high quality and cost-effective compared to fishmeal.”

Source: Vietnam Insider


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