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IFC backs ProNuvo with $2 Million to boost sustainable insect protein production

July 1, 2024  By Hatchery International staff


Miguel Carmona, co-founder and chairman of the board of ProNuvo (Photo: ProNuvo)

The International Finance Corporation (IFC) has announced an initial investment of US$2 million in ProNuvo, a Costa Rica company specializing in the sustainable production of insect-based animal feed.

A press release from IFC stated that this will allow ProNuvo to complete the construction of a 4,000 MT/year industrial insect feed plant in the district of Guápiles, Costa Rica. IFC will also support accelerating the global expansion of the insect protein industry, a rapidly emerging field driven by a market opportunity of US$11 billion for aquaculture feed and the pet food market.

ProNuvo harvests black soldier fly larvae, a species native to Costa Rica and other tropical countries. The company uses organic waste material to feed the larvae, which are converted into high-quality fats and proteins. The feed residue from this process, frass, is transformed into organic fertilizer rich in microorganisms. 

“We are proud to operate in a country that is committed to the environment and to have the support of collaborators like IFC that are perfectly aligned with our mission of creating a more sustainable food chain for future generations,” said Miguel Carmona, co-founder and chairman of the board of ProNuvo. 

ProNuvo in the press release stated that its operations offer other important climate benefits. Compared to other animal feed sources, insect protein production has a lower GHG footprint and requires fewer resources. ProNuvo’s process, for example, needs 10 per cent of the soil, 8 per cent of the time and 6 per cent of the water versus other typical protein sources that pose risks related to deforestation and overexploitation.

“IFC is delighted to support ProNuvo’s growth and commitment to innovation, sustainability and competitiveness. As global industry catalysts, we seek to foster circularity and demonstrate the industrial-scale commercial viability of the project,” said Sanaa Abouzaid, IFC regional manager for Central America.


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