Enterra completes major global funding round to build new insect production facilities in North America
LANGLEY, British Columbia, Aug. 23, 2018 (GLOBE NEWSWIRE) -- With the addition of three major funding partners, Enterra Feed Corporation announced today that it is on track to complete construction of new facilities in Alberta (2019), British Columbia (2020) and the Midwestern U.S. (2021). Each plant will cost approximately $30M to build, substantially increasing the company’s production of its insect-based feed ingredients which are a sustainable substitute for traditional, resource-intensive ingredients for animal feed.
With this significant capital raise, Enterra CEO Geoff Gyles says the stage is set for future growth. “We’re very pleased that three prestigious groups have chosen to strategically partner with us, led by ADM Capital’s Cibus Fund, a global equity portfolio specializing in the future of food. Also joining us are the German-based PHW Group, a global player in high-quality poultry products, and a prominent Canadian family-owned investment group. We are fortunate in that their participation will go beyond investment; all three partners will provide hands-on assistance in developing our global expansion plans. Additionally, we continue to be supported by our longstanding investors, Wheatsheaf Group and Avrio Capital, both of whom have participated in the current funding round.”
Since 2007, Enterra has pioneered sustainable production of nutrition-rich insects for animal feed in North America. Using recycled pre-consumer food waste as feedstock, the company farms and harvests black soldier fly larvae, a beneficial insect that reproduces swiftly under controlled conditions and are processed into high value animal feed products. The larvae production process is completely sustainable, diverting food waste that would normally go to landfills, compost operations, or be incinerated.
Enterra Whole Dried Larvae can be fed directly to poultry and birds, or mixed with other ingredients to produce formulated feeds for fish, poultry and pets. Further processing of the larvae produces Enterra Meal (protein component) and Enterra Oil (fat component), both of which can also be blended into a variety of animal feeds.
Sales of Enterra products have tripled annually and continue to show high growth in aquaculture, poultry and pet food, as feed producers look for novel ingredients and sustainable replacements for resource-intensive inputs like fishmeal, soybean meal, coconut oil and palm kernel oil.
Enterra is the first company to receive regulatory approvals in the U.S. and Canada for its insect ingredients, following extensive trials and data collected in conjunction with research institutions across North America. Enterra products are also registered in the EU Trade Control and Expert System (TRACES), allowing export to all EU member countries for use in aquaculture, with approvals for poultry and pig feed expected.
Alastair Cooper, Head of Early Stage Investments for ADM Capital, reports his company is excited about its partnership with Enterra. “They are making enormous strides in sustainable food production. This is completely aligned with our Cibus Fund, which invests in rapidly-growing food chain companies that employ smart, sustainable technologies to create high value. It is an ideal partnership, one we are enthusiastic to pursue and nurture. Enterra is about the future of food.”
Enterra Feed Corporation is a privately held company that specializes in the development and manufacture of sustainable insect-based feed ingredients for the aquaculture, poultry and pet food industries. Since opening its first commercial facility in 2014, Enterra has converted tens of thousands of metric tonnes of pre-consumer food waste into sustainable feed ingredients for its growing customer base.
About ADM Capital
Established in 1998, UK-based ADM Capital has deployed USD 2.96 billion in 122 private credit transactions across 16 countries with 104 exits since 2004. In 2017, ADM Capital launched the Cibus Fund, a private equity vehicle created to invest in rapidly-growing food chain companies that adopt technologies to enable the profitable and sustainable capture of high-growth market and produce opportunities.
About PHW Group
The German-based PHW Group is a leading European poultry company with about 6,800 employees and a total turnover of EUR 2.5 billion. The group produces and markets high-quality poultry specialties (including the WIESENHOF brand) and has facilities in Germany, the Netherlands, Poland and Bulgaria. In addition, PHW has an increasing share of plant-based products in its portfolio, underlining the growing importance of alternative proteins for the company going forward. Other business sectors include animal feed and animal health, human nutrition and human healthcare.
About Wheatsheaf Group
Wheatsheaf Group, based in the UK, directly operates, invests in and helps to develop businesses in the food and agriculture sectors. Through the activities of over 2,500 people across 34 countries and the development of innovative technologies, it aims to contribute enduring solutions to improve efficiency in the production of healthy and nutritious food to meet the food requirements borne out of the increasing demands of changing global population.
About Avrio Capital
The Avrio group of entities was established in 2002 to identify and invest in innovative food and agriculture companies that provide solutions to global challenges in the areas of health, wellness and sustainability. As the global pioneer in ag and food technology investing, the team has been a very active investor in the space for almost 15 years, having completed over fifty investments since its inception.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/5086efe0-4212-4135-8bd6-82332287cdd2
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
Mitratech’s DataStore Helps Financial Services Clients Across the Globe Meet Regulatory Requirements, Reduce Risk and Improve Efficiency12.11.2018 14:01 | Pressemelding
Major DataStore Update Includes New Reporting Resulting in Greater Visibility and Informed Decision Making AUSTIN, Texas, Nov. 12, 2018 (GLOBE NEWSWIRE) -- To continue to meet growing risk and compliance demands, Mitratech DataStore Enterprise Content Management (ECM) solution now offers advanced reporting capabilities to help financial services reduce risk and improve efficiency across the enterprise. With this new release, Mitratech customers and partners can leverage advanced reporting capabilities that include: Inventory management Workflow management Audit management Performance management “DataStore continues to expand globally. As the only ECM solution dedicated to financial services, we continue to develop our product to meet the unique needs of our clients,” said Jason Cropper, Mitratech Global Head of Product Marketing - GRC. “Compliance and efficiency are pretty much top of mind across the board, and with the enhanced reporting capabilities this release provides, our clients
Starry Leverages Quantenna’s 8x8 MIMO Capabilities to Bring Ultrafast 5G Fixed Wireless Access to Consumers12.11.2018 14:00 | Pressemelding
SAN JOSE, Calif., Nov. 12, 2018 (GLOBE NEWSWIRE) -- Quantenna Communications, Inc. (NASDAQ : QTNA) and Starry are joining forces to deliver pioneering gigabit Wi-Fi solutions in millimeter wave bands, leveraging Quantenna’s advanced 8x8 MIMO capabilities and Starry’s smart antenna RF technology. The integration of Quantenna 802.11ac and 802.11ax (Wi-Fi 6) chipsets in Starry’s base station technology, Starry Beam, provides end users with ultrafast speeds, increased bandwidth capacity, reliable connections and extended range. Starry first launched its pre-standard 5G, point-to-multipoint fixed wireless technology in 2016 in Boston; with Quantenna, Starry will continue to expand its network footprint to cities across the country, including Los Angeles, Washington, DC and New York City. Quantenna QSR10GU and QSR10GU-AX solutions support up to 10Gbps speed, 8x8 MIMO and advanced multi-user MIMO, delivering the maximum capacity within the minimum utilized spectrum, resulting in superior perf
Bombardier-Alstom consortium to supply 153 additional AZUR metro cars for Montréal12.11.2018 13:48 | Pressemelding
Order valued at approximately $448 million CDN With 60% Canadian content, contract will leverage a network of several hundred suppliers across Québec BERLIN, Nov. 12, 2018 (GLOBE NEWSWIRE) -- Note to editors: To view the photo associated with this press release, please visit the following link: http://www.globenewswire.com/NewsRoom/AttachmentNg/a083fc50-492b-4958-8e12-e4f8f1a596d1 The consortium comprising Bombardier Transportation and Alstom has signed an amendment to the initial acquisition contract of October 2010, concluded with Société de transport de Montréal (STM), for the supply of an additional 153 metro cars (17 nine-car trainsets). These cars will move more riders each day with greater reliability and comfort. The value of this new order is approximately $448 million CDN ($340 million US, 299 million euro). Bombardier's share is valued at $281 million CDN ($213 million US, 188 million euro), and Alstom's share is valued at $167 million CDN ($127 million US, 112 million euro)
Standard Lithium Signs Joint Venture Term Sheet With Global Specialty Chemical Company LANXESS12.11.2018 12:30 | Pressemelding
VANCOUVER, British Columbia, Nov. 12, 2018 (GLOBE NEWSWIRE) -- Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLL) (OTC-NASDAQ INTL DESIGNATION: STLHF) (FRA: S5L), announces that it has signed a term sheet (the “Term Sheet”) with global specialty chemical company LANXESS Corporation (“LANXESS”) for a contemplated joint venture in the commercial production of battery grade lithium from brine extracted from the Smackover Formation in South Arkansas. Standard Lithium is working with LANXESS in a phased approach as per terms of a binding memorandum of understanding, to develop commercial opportunities related to the production, marketing and sale of battery grade lithium products extracted from brine produced from the Smackover Formation. Under the proposed terms of the joint venture, LANXESS would contribute lithium extraction rights and grant access to its existing infrastructure to the joint venture, and Standard Lithium would contribute existing rights and leases he
Media Alert: Fifteenth World Robot Olympiad Finals Set in Thailand12.11.2018 11:00 | Pressemelding
Surprise Rules & Automation Will Challenge Young Competitors to Solve Real Problems at Popular Annual Event SUNNYVALE, Calif. and BILLUND, Denmark, Nov. 12, 2018 (GLOBE NEWSWIRE) -- The World Robot Olympiad™ Association plus joint sponsors LEGO® Education and Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, today announced this year’s global finals are due to take place starting this Friday, November 16, in Chiang Mai, Thailand. Four-hundred and eighty-four teams, comprising over 1,200 individuals from 63 different countries, are due to participate across eight age- and task-based categories. The teams will demonstrate their ability to problem-solve and innovate using LEGO-based robots they have designed, built and programmed themselves. This year’s event has a theme of ‘Food Matters’, around which some of the competitive challenges are based. The challenges are known in advance so the teams can prepare their approach, but they must also dea
Mash Group Plc Reports Interim Unaudited Q3 Financials, ended 30th September 201812.11.2018 10:17 | Pressemelding
Record revenue for the first nine months of 2018, up 167% from Q1-Q3/17. EBIT grew by 186% to EUR 9.5 million and lending volume grew by 161% for the same period. Revenue growing faster than lending volumes in the third quarter and strong growth expected to continue in Q4 2018, according to CEO Hickson. The first nine months of 2018 showed record growth in revenue, EBIT, lending volume and loan book as Mash continues to execute its growth plan. Strategic Highlights Mash announces launch of EUR 50 million equity issue as well as Europe’s first regulated digital share issue. Mash pay later services were launched in Sweden with partner Verifone. Mash develops partnership with Nets for ecommerce and point of sale, a leading payment services operator in the Nordic market. Operational Highlights The number of new customers grew by 229% Q1-Q3/18 compared to Q1-Q3/17. Registered merchants for Mash’s pay later point of sale solution grew 1054% year to date. The Mash Net Promoter Score reached 8
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom