ADM Ventures invests in two startups on the leading edge of developing alternative proteins for pet food, including animal-free proteins created by precision fermentation and alternative protein made from insects.

President
Pet Nutrition, ADM
Modern pet parents are looking for ways to feed their four-legged family members in much the same way that they feed themselves. According to ADM’s 2023 global trends research, this includes a preference for pet food that aligns with the popular flexitarian lifestyle, in which many sources of protein, both traditional and alternative, are used to comprise a more sustainable and earth-friendly diet. Additionally, exactly what ingredients are used in their pets’ food, where it comes from, who made it and how it was made are of growing importance to both North American and global consumers.
To meet these needs, ADM Ventures, the corporate venture capital division of ADM, has made two new important partnerships to support the development of expanded protein sources and earth-first production practices. Bond Pet Foods is a pioneer at the forefront of alternative protein, employing precision fermentation to make nature-identical chicken, beef, fish and other meat proteins for pet food applications. Innovafeed, a leader in the growing space of insect proteins, has taken advantage of the approval by the Association of American Feed Control Officials (AAFCO) for black soldier fly larvae (BSFL) to be used in adult dog food and treats in the U.S.
ADM’s investment in these two forward-thinking companies represents its commitment to producing pet food the right way, to benefit pets, people and the planet.
PRECISION FERMENTATION AS A PET PARENT PREFERRED SOLUTION
The 163 million dogs and cats that comprise America’s pet population eat an enormous amount of protein. As the world’s population continues to increase, responsible protein production is of critical importance, particularly for animal protein which has a significant impact on the planet’s land, water and energy resources. Bond Pet Foods is solving this problem by applying precision fermentation to produce nutritionally complete nature-identical meat proteins for dogs and cats that are far less resource intensive than their animal protein counterparts.
“We’re excited to be a part of this next chapter of Bond Pet Foods’ growth,” said Jorge Martínez, President, Pet Nutrition for ADM. “More and more, consumers demand their pets eat the same sustainable, responsibly produced food that they themselves eat, and proteins produced by precision fermentation are key to being part of the future of the industry. We’ve expanded our capabilities and are proud to be part of the Bond Pet Foods journey.”
Precision fermentation, Bond’s production process, is similar to industry-standard practices for making widely used ingredients like lactic acid, vitamin B12 and enzymes for cheese production. These processes are safe and established and require no animal farming. For reasons like these, animal-free protein is perceived as sustainable and humane by modern pet parents.
ADM’s funding will contribute to significantly expanded capacity and capabilities in Bond’s Boulder, Colorado operations with ground having recently been broken on a new 15,000 sq. ft. facility.
“With their support,” added Rich Kelleman, CEO and Co-Founder of Bond Pet Foods, “we’ll be able to take our work to the next level, developing and scaling a variety of meat proteins for our valued partners in the pet food space.”
INSECT PROTEIN FOR EARTH-FRIENDLY PET FOOD
The ADM/Innovafeed partnership includes the construction of a new Innovafeed production site next to ADM’s grain processing plant and headquarters in Decatur, Illinois. The location of this strategically placed facility will allow Innovafeed to employ its circular industrial symbiosis model. Not only will ADM provide feedstock for BSFL but also waste heat and water, which Innovafeed’s plant will upcycle to reduce reliance on fossil fuels. Additionally, the proximity of the facilities inherent in this model reduces the energy costs of transportation, saving approximately 120 gigawatt hours (GWh) per year, or the annual energy consumption of more than 10,000 households.
This collaboration also aims to commercialize the use of dried whole black soldier fly larvae as an alternative protein for the North American pet food industry. BSFL oil, already tentatively approved for adult dogs in the U.S. and approved by the European Food Safety Authority (EFSA) for use in dog and cat food, is also being developed as a source of fat for pet nutrition products. Furthermore, a pilot research facility is being constructed in Decatur to allow for joint research and development on pet food formulation, such as palatability studies and protein performance.
“Our pet nutrition experts will collaborate with the Innovafeed team and other research scientists to unlock the benefits of black soldier fly larvae as an alternative protein for pets,” explained Martínez. “This research is an important step forward as it will allow the pet food industry to offer science-backed ingredients with demonstrated nutritional benefits while meeting the expectations of today’s discerning pet parents.”
There’s more evidence in recent years that consumers are warming up to the idea of insect protein being used in pet and animal food. This is welcome news as the opportunities it offers for earth-friendly production practices and balanced nutrition are plentiful.
“At a time when conservation of our natural resources and the preservation of our environment are becoming an absolute necessity, we are convinced that the insect industry is a solution for our planet’s food production needs,” said Clément Ray, CEO of Innovafeed. “Our partnership with ADM underscores the role of Innovafeed’s cutting-edge technology and the insect industry’s ability to transform the food system into a more sustainable one.”
SCALING UP ALTERNATIVE PROTEIN PRODUCTION AND DISTRIBUTION
With more pets in the home than ever before and their elevated status as full-fledged members of the family, the need to provide pet food products that correspond to their owners’ lifestyles is increasing. The rise of flexitarianism is closely related to this trend, and well-balanced nutrition that’s good for pets and good for the planet is in demand. Pet parents are paying closer attention to labels, and they’re looking for alternative protein sources that tax the planet less than traditional protein.
ADM’s support of startups like Innovafeed and Bond Pet Foods is bolstering pet-friendly and planet-friendly innovations in pet nutrition while unlocking the potential for wide distribution of alternative proteins. ADM will be one of the first pet food ingredient suppliers to support nature-identical meat proteins made from precision fermentation and black soldier fly protein and oil at scale nationwide.
About Jorge A. Martínez Carrillo
Jorge A. Martínez Carrillo is the President of ADM’s global pet nutrition business. Previously he was President of ADM’s animal nutrition business for Latin America. He joined ADM in 2013 under MaltaCleyton, serving as Vice President for the livestock, specialties and aquaculture division, where he strengthened the portfolio of products and services, expanding the network to more than 1,255 distributors in Mexico.
Jorge began his professional career at Unilever, where he held various positions in the areas of Research and Development, Engineering, Production, Manufacturing and Supply Chain in the Personal Care, Home Care and Food divisions. He had international assignments in various locations such as Director of Supply Chain in the United States, Director of Manufacturing and Demand Planning in Brazil, Director of Manufacturing in England, and Director of Manufacturing in Mexico. Later he collaborated in L’Oreal as Director of Operations.
Jorge is Industrial and Systems Engineer from the Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM); he has a master’s degree in Business Administration with a specialty in Finance from the same Institute (MBA-ITESM). Jorge holds a Strategic Management Certification from Harvard Business School (HBS) and an Executive Program in Top Management, from the Instituto Panamericano de Alta Dirección de Empresa (IPADE Business School). He is fluent in Spanish, English, French and Portuguese.