Funding to build a new insect ingredient hub in Vietnam

Singaporean biotech company Entobel announced its entry into a long-term partnership with the global development institution International Finance Corporation (IFC) to expand operations in Vietnam.

The partnership will enable Entobel, a producer of Black Soldier Flies (BSF) ingredients for various industries including pet food, to accelerate its international expansion plans in the Asian region.

The value of the injected capital remains undisclosed, though it is speculated to be around $10 million (€9M).

Largest insect plant in Asia

Entobel is currently constructing the largest insect plant in Vung Tau province in Vietnam.

The plant is estimated to supply 10,000 metric tons of insect meal annually to local and international aquafeed and pet food manufacturers. GlobalPETS learned that commercial sales would kick off later this year.

“We are aligned with IFC on focusing on the tropical region to minimize our environmental footprint and remain highly competitive,” said co-founder Alexandre de Caters.

The other co-founder, Gaetan Crielaard, added: “It is essential for Entobel to contribute to a more sustainable aquaculture industry and help reduce the oceans’ depletion. To achieve our ambitious impact goals, scale and industrialization of the model is needed.”

IFC’s Country Manager Thomas Jacobs expressed his support for the firm’s innovative industry, which provides a sustainable high-protein alternative to wild-caught fish. “Reaching scalable levels of production will help protect marine ecosystems and reduce the depletion of ocean resources.”