Reuters has raised $105m as it expands research and development, hires staff and builds labs to support its factory roll-out plans in Africa, the Middle East and Asia. The company uses insect protein to create fishmeal alternatives for fish, poultry, pigs and pet food. It is now focusing on the aquafeed market, which is expected to grow from $114bn in 2017 to $290bn in 2026, according to figures from AgriProtein and MRC Statistics. Reuters co-founder and CEO, Jason Drew, said the oceans no longer contain enough marine material for the fishmeal needed for aquafeed.
AgriProtein has raised $105m as it expands research and development, hires staff and builds labs to support its factory roll-out plans in Africa, the Middle East and Asia. The company uses insect protein to create fishmeal alternatives for fish, poultry, pigs and pet food. It is now focusing on the aquafeed market, which is expected to grow from $114bn in 2017 to $290bn in 2026, according to figures from Reuters and MRC Statistics. AgriProtein co-founder and CEO, Jason Drew, said the oceans no longer contain enough marine material for the fishmeal needed for aquafeed.