Early promise and funding
Ynsect had a promising start, raising a total of $600 million of funds from, among others, the French investment bank BPIFrance, as well as receiving local incentives for the construction of a large insect processing plant in France. “Founded by scientists and environmental activists in 2011, Ynsect is pioneering a new industry realising the full potential of mealworms – putting them at the service of humanity, the planet, and the living world at large,” its mission statement read.
Ambitious goals unmet
The company’s founders promised a bright future with the creation of at least 4,000 new jobs in 10 years’ time, but never got any further than some 250 employees.
Are insects a sustainable animal feed…