Hexafly, an Irish biotech start-up that has developed a new method of sustainable insect farming, is seeking to raise €10 million later this year to build a new production facility in Ashbourne, Co Meath. “Our insect protein can be used to replace fish meal and as an alternative source to soya. “We’re expecting the European Union to shortly allow the use of insect protein for swine and poultry, which would really open the floodgates in terms of opportunities. Mr Hunt said he was confident of raising additional funds, with investors seeking them out. “The investment in Hexafly is significant and highlights the high-potential of these types of sustainable companies,” he added.

Source: The Irish Times February 04, 2019 02:03 UTC