Financial crisis for insect specialist

According to media reports, French mealworm specialist Ynsect has not yet found a way out of its financial difficulties. Despite nine rounds of funding and nearly 625 mio dollars in investor money since its inception in 2011, it was announced late last year that it had been placed under restructuring – a protective procedure to avoid insolvency. The company, which is also active in the pet food sector, was considered a pioneer in insect production and claimed to operate the world's largest insect farm in France. It was one of the most highly valued food tech start-ups in Europe. However, the search for new investors appears to have been unsuccessful so far: according to media reports, Ynsect is now considering selling its production capacity. According to media reports, the company is already in talks with potential buyers and is considering all options.

Negative headlines in the media also report financial difficulties at French insect producer Agronutris. Its parent company, EAP, is said to be on the brink of bankruptcy and has been placed under protection. Unlike Ynsect, Agronutris relies on the production of the black soldier fly, which experts say is easier to keep than mealworms. The economic environment has become more difficult, the company says.