Danish insect ag co ENORM has been declared bankrupt after spending six months in a court-supervised restructuring process.
ENORM, which raised €50 million ($57 million) from backers including Danish ag co-op DLG in 2022, opened a factory in Jutland in 2023 to supply the animal feed market with protein and oil from black soldier fly larvae (BSFL).
Designed to produce around 11,000 tons of protein meal annually, the site was set to be one of Europe’s largest insect ag facilities. Innovafeed has a 15,000-ton site in France, while Protix has a 14,000-ton site in the Netherlands.
COO Jane Lind Sam told reporters earlier this year that ENORM had “experienced strong interest and premium pricing potential until late 2024.”…