NEWS 14 FEED & ADDITIVE MAGAZINE October 2022 Nutrition Technologies, Asia’s first industrial insect company, has completed an equity venture round of US$ 20 million. The round was led by PTT Ventures and supported by Sumitomo Corporation, ING Sustainable Investments, Mandala Capital, as well as continued participation from existing investors: Openspace Ventures, SEEDs Capital and Hera Capital. The round was advised by ING Corporate Finance. The new funding will be used to launch new products, expand into new markets, accelerate R&D and create new strategic partnerships. “It is great to welcome our new investors, who collectively bring vast expertise and experience to help us realise our vision. We are also humbled by the continued support provided from our existing shareholders,” said Tom Berry, Co-CEO and Co-founder, Nutrition Technologies. “We are increasing production to meet market demand and providing essential ingredients to the domestic agricultural sector as well as boosting exports through shipping our products to Korea, Japan, Indonesia, Thailand, Vietnam, Philippines and Chile. We will also commence shipments to the UK and EU very soon,” said Nick Piggott, Co-CEO and Co-founder, Nutrition Technologies. Nutrition Technologies will use these funds to further expand production capacity both at its current operating plant in Malaysia as well as through a new joint-venture project in a soon-tobe-announced second country in Southeast Asia. The Company also intends to expand its R&D capabilities in Singapore; commence commercial activities in the UK and EU; and add several new patents to its existing IP portfolio. French animal feed producer Avril Group and its subsidiary for animal nutrition, Sanders, have announced a €6 million aid plan for livestock producers. Intended for the livestock farmer and not for the farm, the aid can range from €2,000 to €100,000. First announced last spring by Avril Group and Sanders, its leading business unit specialized in animal nutrition, the €6 million aid plan for livestock farmers has just been launched for eligible breeders who request it, regardless of their production, or whether they are clients or future clients. "Given the increasing prices of raw material over the last two years and the consequent increase in the price of feed aggravated by the war in Ukraine, the increase in energy costs, and finally the avian flu, livestock farmers are facing a very complex economic situation. The aid plan we implemented is consistent with our mission to provide them with support throughout their transition to profitable and sustainable farming", explains Philippe Manry, General Manager of Sanders. The aid plan addresses three main objectives: to promote the transfer, installation, and development of farms thus contributing to the sustainability of French livestock, to support the modernization of facilities towards more sustainable livestock farming, and finally, within an unpredictable inflationary context, to provide solutions to facilitate access to quality protein nutrition. Avril Group, Sanders to give €6 million in aid to livestock farmers Nutrition Technologies closes US$20 million equity round
RkJQdWJsaXNoZXIy MTUxNjkxNQ==