What's Happening?
Oberland Agriscience, a Canadian insect agriculture startup, is scaling up its production of protein and frass from black soldier fly larvae at its facility in Halifax, Nova Scotia. The company has appointed Jon Getzinger, a veteran in the food industry, as its new CEO, succeeding founder Greg Wanger, who will now serve as CTO. The company has been operating at commercial scale since July and is now shipping significant quantities of its products to the U.S. market. The insect farming sector has seen a reduction in costs due to automation and the use of machine learning, which has helped optimize production. Oberland Agriscience is focusing on the animal feed and pet food markets, offering benefits such as anti-inflammatory and anti-microbial
properties that traditional protein sources like soy do not provide.
Why It's Important?
The expansion of Oberland Agriscience's operations is significant as it highlights the growing interest and potential in the insect agriculture sector, particularly in the U.S. market. The company's focus on sustainable protein sources aligns with increasing consumer demand for environmentally friendly and health-conscious products. The use of black soldier fly larvae as a protein source offers potential benefits for reducing mortality in aquaculture and decreasing the need for antibiotics, which could have substantial implications for the animal feed industry. As the company continues to scale, it could influence the broader adoption of insect-based proteins, contributing to a shift in agricultural practices and food production.
What's Next?
Oberland Agriscience plans to reach full production capacity by early next year, which could further solidify its position in the market. The company is also exploring additional funding opportunities with larger banks and institutional investors, viewing its operations as infrastructure now that it has proven its business model. As the company continues to grow, it may face challenges related to climate control and production consistency, but it is learning from its current operations to improve future facilities. The broader insect agriculture industry is experiencing mixed signals, with some companies facing financial difficulties while others, like Oberland, are expanding and attracting investment.
