Divaks Raises €3 million to Develop Sustainable Insect Ingredients
Summary
To ensure the most sustainable rearing process, Divaks is using low-value side-streams from local food producers and the agricultural industry for feed.The yellow mealworm also provides a complete protein source containing all essential amino acids, vitamins, and minerals. With our unique, vertically integrated technology, we can provide high-quality insect protein products that are tailored to the demands of both clients and consumers.Following Divaks foundation in 2020, it has worked closely with Lithuanian universities and academic institutions to develop its ingredients and has already conducted initial rearing and breeding trials.Having now completed a second round of seed funding, the company is finalizing the launch of its own pilot manufacturing facility. This will involve identifying the most efficient rearing and breeding conditions as well as providing further insights into yellow mealworm processing and premium ingredient creation.Were delighted to have raised the funds we need to take our project to the next level, Lipnickas said. The company has already acquired a land plot and is working with one of the leading turn-key solution providers on plant design, with an intended launch date of mid-2024.Amid significant concern around sustainability and the disruption to food supply chains, its clear that insect protein has vast scope for growth, said Audrius Grunis, Divaks co-founder and chairman of the board. Were building a vertically integrated insect protein business that can meet demand by delivering a wide array of high-quality, added value ingredients.Insect meal will become an important commodity in the very near future and we see particularly high potential in the food industry, Lipnickas said.