Insect Academy’s Post

🐛 Ÿnsect, a French producer of insect-based ingredients, has filed a safeguard plan due to delays in securing financing for expansion. Despite ongoing investor discussions, financial pressures forced this action. In 2023, Ÿnsect raised €160 million and shifted focus to more profitable markets such as pet food. However, financial challenges persisted, leading to the safeguard plan implementation. The company maintains optimism as investor discussions continue. ▶️ The safeguard plan aims to restructure the company, keep operations running, save jobs, and settle debts. Founded in 2011 by scientists and environmental activists, Ÿnsect specializes in large-scale vertical farming of yellow mealworms. To date, Ÿnsect has raised $600 million USD from investors including Astanor, BPI France, Crédit Agricole, and Robert Downey Jr.'s Footprint Coalition. The safeguard plan represents a strategic measure to sustain Ÿnsect's operations in sustainable agriculture, with the objective of securing additional investment for industrial expansion. Source: MarketScreener 📷 → Ÿnsect *** 📌 Information, news and trends about the Insect Industry → Insect Academy

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