Invest NL

Invest-NL invests in Protix

Invest-NL is pleased to announce that it will be financing the innovative and rapidly growing scale-up Protix. This is the first Invest-NL transaction to contribute directly to the protein transition in the AgriFood sector. Protix breeds insects for the production of sustainable proteins and fats from the larvae of the black soldier fly. These proteins and fats are used by Protix customers as raw materials in animal feed and fish feed, providing a more attractive and sustainable alternative to the more traditional ingredients of soy, fishmeal and palm oil.

Invest-NL is pleased to announce that it will be financing the innovative and rapidly growing scale-up Protix. This is the first Invest-NL transaction to contribute directly to the protein transition in the AgriFood sector.

Protix breeds insects for the production of sustainable proteins and fats from the larvae of the black soldier fly. These proteins and fats are used by Protix customers as raw materials in animal feed and fish feed, providing a more attractive and sustainable alternative to the more traditional ingredients of soy, fishmeal and palm oil.

As part of a €15.5 million round of investment, Invest-NL will invest €7.5 million in the form of a convertible loan. Alongside Invest-NL, Protix’s current shareholders will also be involved in the transaction, led by Aqua-Spark, Rabo Corporate Investments and BOM Brabant Ventures. This financial injection will enable Protix to step up its production capacity and prepare for further international expansion.

The financing of Protix reflects the combined focus on the CO2-neutral transition and innovative, fast growing companies that drives the investment strategy of Invest-NL. Invest-NL’s CEO Wouter Bos recognises the great potential in the Protix transaction: "I am delighted that we can support Protix in strengthening its top international position in the fast-growing market for insect-based ingredients. Another very positive aspect is the European Investment Fund’s involvement in this transaction. The InnovFin SME Guarantee that we recently agreed with the EIF enables innovative, fast-growing companies to scale up even faster with the help of European investment."

“Protix was born out of innovation with a focus on making a positive environmental impact. We are paving the way for a whole new category of proteins and other nutrients, something our brilliant minds at Protix are working day and night to achieve,” says Kees Aarts, CEO and founder of Protix. “This is another important step in the expansion of our leadership role and there will be many more to come in the near future.”