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
Bombardier Delivers First 90-seat Q400 Aircraft to SpiceJet21.9.2018 16:00 | Pressemelding
SpiceJet becomes the first airline to take advantage of the Q400 aircraft’s increased profit potential TORONTO, Sept. 21, 2018 (GLOBE NEWSWIRE) -- Bombardier Commercial Aircraft today announced the delivery of its first 90-seat Q400 aircraft. The aircraft was handed over to India’s SpiceJet Limited (“SpiceJet”) the launch operator for the extra-capacity, 90-seat aircraft. “We are excited to induct the 90-seat Q400 aircraft into our fleet,” said Ajay Singh, Chairman and Managing Director, SpiceJet. “The additional seats and performance improvements will result in substantial reduction in unit costs and also we will enable us to address our market needs in the regional space.” “The delivery of the first 90-seat Q400 aircraft showcases the commitment of Bombardier’s Q Series turboprop program to respond to customer requirements as they address traffic growth in regional markets,” said Todd Young, Head of the Q Series Aircraft Program, Bombardier Commercial Aircraft. “I thank and congratul
Service Providers Speed Deployment, Reduce Costs with Patton Cloud Edge Orchestration Service20.9.2018 22:16 | Pressemelding
Now, Telecom and UCaaS service providers can easily provision, manage, monitor, secure, alert, troubleshoot, analyze, and optimize services on the customer premise GAITHERSBURG, Md., Sept. 20, 2018 (GLOBE NEWSWIRE) -- Patton Electronics—US-manufacturer of UC, cloud, and IoT-enabling solutions for carrier, enterprise, and industrial networks—has launched the new Patton Cloud service for carriers and service providers that deliver All-IP and hybrid voice-and-data services to business subscribers. Patton Cloud delivers a low-cost, easy-to-use, web-based edge-orchestration service that delivers a superior user experience. It offers remote touchless provisioning, monitoring, and troubleshooting—as well as security and alerting tools that reduce service turn-up costs, trouble tickets, and subscriber attrition. The Patton Cloud service offers quality-control mechanisms including pro-active monitoring and troubleshooting—combined with feature-license distribution pools for managing value-added
Inspirata Promotes Top Executives to Expanded Roles in Digital Pathology20.9.2018 21:12 | Pressemelding
Inspirata Founder and Executive Vice President, Mark Lloyd, is taking on an expanded role overseeing product management, and Inspirata Senior Vice President, Andrew Chomos, has been appointed to General Manager, Digital Pathology, overseeing the Center of Excellence in Pittsburgh along with all North America sales and customer support efforts. Tampa, FL, Sept. 20, 2018 (GLOBE NEWSWIRE) -- Cancer informatics and digital pathology workflow solution provider Inspirata®, Inc. announced today that two of its executives have taken on expanded roles in the company. The two are Inspirata Executive Vice President and Founder, Mark Lloyd, and Senior Vice President and General Manager, Digital Pathology, Andrew Chomos. Dr. Lloyd has accepted the expansion of his role to include product management for Digital Pathology. He is former cancer researcher at both Lombardi Cancer and Moffitt Cancer Center and is Inspirata’s foremost subject matter expert and thought leader on digital pathology and image
Tetraphase Pharmaceuticals Announces Adoption of Commission Decision Granting Marketing Authorisation Approval in the European Union for XERAVA™ (eravacycline) for the Treatment of Complicated Intra-Abdominal Infections20.9.2018 19:08 | Pressemelding
– Broad Product Label for Treatment of Complicated Intra-Abdominal Infections – – Phased Commercial Launch Expected in the First Half of 2019 – WATERTOWN, Mass., Sept. 20, 2018 (GLOBE NEWSWIRE) -- Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH), a biopharmaceutical company focused on developing and commercializing novel antibiotics to treat life-threatening multidrug-resistant (MDR) infections, today announced that the European Commission (EC) has adopted the Decision granting marketing authorisation for XERAVA (eravacycline) for injection for the treatment of complicated intra-abdominal infections (cIAI) in adults in the European Union. In clinical trials, XERAVA was well-tolerated and achieved high clinical cure rates in patients with cIAI, demonstrating statistical non-inferiority to two widely used comparators – ertapenem and meropenem. “The European approval of XERAVA, right after our recently announced FDA approval, marks our second significant regulatory approval within one month
UPDATE— Taconic Biosciences Becomes the First Animal Model Provider on General Services Administration Contract Schedule20.9.2018 18:07 | Pressemelding
RENSSELAER, N.Y., Sept. 20, 2018 (GLOBE NEWSWIRE) -- Taconic Biosciences, a global leader in providing genetically engineered rodent model solutions, announces a new relationship with Government Scientific Source (GSS). GSS is a leading dedicated distributor of laboratory equipment to federal, state, and local governments on contract with the GSA (General Services Administration). By having Taconic’s products available via GSS, they can now be accessed by all federal agencies, including but not limited to the National Institutes of Health and the Department of Defense. Taconic is the only animal model provider affiliated with GSS and the only animal model provider available on GSA Contract. “An important component of providing customers with the best animal model solutions is access to key resources. Through this exciting new relationship with GSS, Taconic can now easily connect with scientists doing some of the most valuable research in the world and provide them with high quality sol
Digital Transformation is Not a One-Off — It’s About the Digital Journey20.9.2018 17:44 | Pressemelding
SoftServe study confirms four digital journey states with 71 percent of enterprises reporting early stages of adoption AUSTIN, Texas, Sept. 20, 2018 (GLOBE NEWSWIRE) -- SoftServe, a leading digital authority and consulting company, today released the results of its market research study that examines how enterprises are responding to the digital economy. The research found that 71 percent of the respondents in the United States and the European Union are in the early stages—Reveal and Transform—of four unique states across the Enterprise Digital Journey. For an in-depth analysis and the full results, read The Enterprise Digital Journey white paper. With fierce competition in today’s global landscape, leveraging cutting-edge technology and deploying new business models is not a one-off pursuit, but rather a continuous process of iteration and refinement. Companies should stop referring to Digital Transformation and instead plan for a continuous Digital Journey. “The term Digital Transfo
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom