Finnish BioTech company Volare has raised €26 million to build the most efficient protein production plant in the world.
The funding round includes equity, mezzanine and senior loans, and public funding from various financial institutions.
Volare aims to convert food industry byproducts into sustainable insect protein, oil, and fertilisers to strengthen Europe's food resilience.
The new facility, Volare 01, set to begin construction in 2025, will enhance protein self-sufficiency and promote sustainable food production in Europe.