NEWS 20 Alternative Proteins Magazine April 2024 Deep Branch, one of the creators of high-value ingredients for a more sustainable food system, announced the appointment of Kaspar Kristiansen as its new Chief Executive Officer (CEO), taking over from co-founder Peter Rowe. With Kristiansen’s arrival, Rowe will dedicate his focus to commercial development activities, with both working closely together to redefine the company’s long-term strategy and lay the foundations for growth. The company unveiled that this management team evolution is combined with an injection of additional funding from existing investors. Kaspar Kristiansen joins Deep Branch following six years serving as Managing Partner and Managing Director of Waterland, where he was responsible for the global private equity firm’s Nordic business. Having also previously headed up Danish engineering firm FLSmidth’s M&A and business improvement activities, Kaspar is seasoned in dealing with the challenges of scaling and commercialising novel process technologies. He brings extensive experience in enabling high-potential businesses to realise their true value; experience he will apply to Deep Branch as he oversees the successful completion of the company’s ongoing pilot project and prepares the organisation for future growth through the establishment of stronger internal structures, planning and processes. Read more>> Deep Branch appoints Kaspar Kristiansen as new CEO Kaspar Kristiansen Ittinsect secures €600,000 in funding for sustainable protein production Ittinsect secured over €600,000 in non-dilutive funding from Invitalia, Italy’s Development Agency. This funding will facilitate the construction of a pilot plant capable of producing 2,300 metric tons of sustainable proteins annually. This marks a key step toward the biotech company's goal of scaling up to an industrial-scale production of proteins derived from 100% circular economy processes by 2025. This initiative highlights the importance of scaling up sustainable aquafeed for safeguarding our oceans, according to the company. Ittinsect will deploy €602,500 to build a section of its inaugural production facility. The facility will prove both the technical and economic advantages of Ittinsect's products at scale, laying the groundwork for the company's first industrial plant. This scale-up will also bolster the recruitment of specialized personnel and the pursuit of new patents, solidifying Ittinsect's position as the preeminent innovator in the market. Ittinsect’s CEO, Alessandro Romano, underscored the significance of national support from Italy’s National Development Agency, stating, "We are honored to secure this funding, building upon the trust already received from the Lazio Region during the project's pre-seed phase. The backing from Invitalia confirms the regional interest has transcended into a national one. Our goal is now to extend public support to an international level." Read more>>
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