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Capitalism

October 25, 2020 - NDTV

World's Biggest Insect Farm To Come Up In France After Firm Raises $224 Million

World's Biggest Insect Farm To Come Up In France After Firm Raises $224 Million
MealwormsCredit: Peter Halasz

Due to open in early 2022, it will produce 100,000 tonnes of insect products such as flour and oil annually and conserve land use while creating 500 jobs.

Growing global demand for food is putting a squeeze on available land and one French startup says it has the answer: indoor insect farming.

Ynsect raised $224 million from investors including Hollywood star Robert Downey Jr.'s Footprint Coalition this month to build a second insect farm in Amiens in northern France.

The company breeds mealworms that produce proteins for livestock, pet food and fertilisers, and will use the funds to build what it says will be the world's largest insect farm.

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