Bioflytech, the leading European company in industrial insect protein production for animal feed, has successfully closed a €4 million capital increase aimed at strengthening its project and initiating the commercialization phase of its portfolio of products derived from the black soldier fly.
The round received support from all the company’s investors, completing 100% of the planned capital. Key participants include:
Expansion of the Palas de Rei plant and declaration as a Strategic Industrial Project (PIE)
The Consello de la Xunta de Galicia has approved the declaration of the planned expansion of Bioflytech’s Palas de Rei plant in Lugo as a Strategic Industrial Project (PIE). The announcement was made by the President of the Galician Government, Alfonso Rueda, on December 1.
The PIE designation will streamline and prioritize the administrative processing of the project, which is considered of great interest to the industrial sector of the region due to its positive economic impact, through the creation of quality jobs, wealth generation, and increased competitiveness in the sector.
The expansion represents an investment of more than €100 million and will allow Bioflytech to quintuple its production capacity, reaching 62,000 tons per year, compared to the current 12,000 tons. Additionally, the number of workers at the black soldier fly-derived products plant will increase, generating approximately 150 direct and indirect jobs.
About Bioflytech
Founded in 2012 and headquartered in Fuente Álamo, Bioflytech has established itself as the leading European company in insect protein production for animal feed, standing out for its technological innovation and commitment to sustainability and efficiency throughout the animal feed value chain.
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