Ÿnsect, a French foodtech startup that recently raised $125 million, has won another €20 million in backing from the European Commission for a protein plant project.
Dubbed FARMYNG, the new project is based in Amiens, France, and will produce the Tenebrio Molitor insects on an industrial scale. These insects can be used as a protein source for animal feed and fertilisers.
Ÿnsect stated that the protein plant could ramp up the production to over 200,000 tonnes of protein, creating 1,200 direct and indirect jobs in the North of France. The site is set to open in 2021.
