The European Investment Bank (EIB) has announced a significant investment in Protix, a leader in the production of sustainable protein. This move, backed by the InvestEU programme, involves a loan of up to €37 million to support the construction of a new production plant in Poland, marking a critical step in Protix's global expansion.
Protix: Pioneering Sustainable Protein Production
Founded in 2009 in the Netherlands, Protix has emerged as a key player in developing alternative proteins for animal feed, pet food, aquaculture, and organic fertiliser. The company is renowned for its innovative approach to creating a circular food chain, utilizing waste from the food industry to feed insects. These insects are then processed into valuable nutrients like proteins and lipids, which are used in high-quality animal feed and pet food. Additionally, residual streams from the insects serve as organic fertiliser, thereby closing the loop and aligning the food system with nature.
The InvestEU Programme: Fuelling Sustainable Development
The InvestEU programme, aiming to trigger over €372 billion in additional investment across the European Union between 2021 and 2027, is a crucial component of this funding initiative. The programme focuses on supporting investments that contribute to the EU’s policy goals, including sustainable bioeconomy and circular economy. Protix's project aligns perfectly with these objectives, promising to contribute significantly to sustainable solutions within the bioeconomy sector.
EIB's Commitment to Innovation and Sustainability
EIB Vice-President Teresa Czerwińska highlighted the bank's dedication to supporting innovative solutions, particularly those that contribute to sustainable development. The collaboration with Protix is a testament to the EIB's commitment to fostering sustainable practices in key EU policy areas, particularly the European Green Transition.
Protix's Growth and Expansion
Having previously raised over $186 million in funding, Protix has been a game-changer in the protein industry, producing insect ingredients at an industrial scale in The Netherlands since 2019. The company's CFO, Lynn De Proft, expressed excitement about the expansion opportunities this agreement brings, especially in terms of accelerating their mission to balance the food system with nature. The investment will allow Protix to scale its operational facilities significantly and explore various locations in Poland for its expansion.
A Milestone for Sustainable Protein Industry
This investment in Protix by the EIB, under the InvestEU programme, represents a significant milestone for the sustainable protein industry. It underscores the growing importance and viability of sustainable protein sources in tackling environmental challenges and meeting the demands of a growing global population. Protix's journey from a Netherlands-based startup to a global leader in sustainable protein production exemplifies the potential for innovative, environmentally conscious companies to make a substantial impact on the food industry and beyond.EIB Supports Protix with €37 Million Loan for Sustainable Protein Production Expansion