Entosystem, a Drummondville, Quebec, Canada-based company which specializes in the production of insect proteins and organic fertilizers for agriculture and animal nutrition, raised $58M in funding.
Backers included Idealist Capital, Sanimax and Fondaction.
The company intends to use the funds to accelerate its growth by increasing existing production capacity and constructing a second commercial plant.
Led by President Cédric Provost, Entosystem is a producer of insect proteins and fertilizers for sustainable agriculture and animal nutrition. Using its technology, it diverts tons of organic matter from landfills to transform insects into high-quality ingredients, reducing the ecological footprint of food production.
The Drummondville carbon-negative plant can process 90,000 tonnes of organic matter each year into 5,000 tonnes of high-quality protein meal, as well as 15,000 tonnes of fertilizer approved for organic farming. The second plant under development represents a key step in the company’s growth strategy to meet demand for sustainable proteins and organic fertilizers.
FinSMEs
09/10/2024