Working together for impact within the protein transition

Rik Pantjes: “In my work I receive a variety of impressive impact proposals. Protix immediately captured the imagination in a positive way. It is an organisation focused on making an impact and actively operates in a global market. Additionally, it concerns scaling a new technology, there is strong involvement from partners and investors. Protix has quickly grown into an international key player. This is a mix of unique qualities and therefore an excellent foundation to establish collaboration.”

As part of a €15.5 million investment round, Invest-NL is investing €7.5 million in the form of a convertible loan. Alongside Invest-NL, the current shareholders of Protix are also involved in the transaction; led by Aqua-Spark, Rabo Corporate Investments and the Brabant Development Agency.

Kees: “We are a growth company and need financing to continue expanding. With this funding round, Protix can further optimise its production capacity and accelerate international expansion, thereby strengthening our leadership position worldwide. The investment also supports further strengthening of growth functions within our organisation such as business development, engineering and R&D. We can also expand our ingredient portfolio into new market segments and it provides Protix with the space to further increase production capacity.”

Rik: “Protix is clear in its ambitions to remain the number one in the sector. And ultimately, it’s about much more than just breeding insects; it’s about transforming a food system. This requires exponential growth with the same level of funding, with Invest-NL and Protix intending to build further together. Protix has created the opportunity for itself to make a significantly greater impact quickly. All support is welcome in this process.”

Kees: “Invest-NL is the fund that can take groundbreaking innovations like Protix to the next level from a financial perspective. The average available funds for ambitious companies in the Netherlands is far too small. Most investors want quick results with a small investment, preferably within 2 years. That works well for, for example, the app world, but not for manufacturing. We have developed a completely new industry with a new technology platform, creating a new portfolio of ingredients for all participants in the food industry, such as pets, animals, humans, and plants. All of this originates from insects. That role takes time and money, and to further expand the internationally leading position, significant funding is needed. We’re talking about a few hundred million quite quickly. Invest-NL can be a key accelerator in this process.” 

Protix was born out of innovation with the drive to make a positive impact on the environment. Kees: “Sustainability is the main reason I started insect farming for nutritional purposes ten years ago. The idea arose during a diving trip to Mozambique where I was confronted with the facts. The effect of overfishing was shocking; underwater life was bare and lifeless. I wanted to work on solutions for this overfishing. This was my personal motivation to start Protix. We aim for a food system that is in balance with nature.”

Rik adds: “At Invest-NL, we work every day with the conviction that a sustainable world is possible. Through my work, I want to contribute to this and bring transitions beyond the ‘tipping point’ with ‘nudges’ so that they can grow into a large snowball that can no longer be stopped. This is how we truly work towards a society where making a sustainable choice is easy and where we can continue to build a sustainable model. That is making an impact.”