French mealworm protein pioneer Ynsect has declared bankruptcy after years of financial struggle. The company, once hailed for its sustainability promise, fell short of funding needs. Ynsect now calls for the acquisition of assets to continue its mission.
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…