Finland’s Volare raises €7.1 million and opens 5,000-tonne insect protein factory
Volare, a Finnish DeepTech company turning food-industry side streams into high-quality insect protein, has inaugurated its first industrial-scale facility called Volare 01 in Pori, Finland, and raised €7.1 million in fresh funding. The funding came from Springvest, with backing from both new and existing investors, including venture capital firm Maki.vc. “Volare 01 proves that our […] The post…
Finnish biotech firm Volare has unveiled its first industrial-scale insect protein factory, Volare 01, in Pori, Finland. Spanning 10,000 square meters, the facility aims to produce 5,000 tonnes of insect protein and 2,000 tonnes of insect oil per year using food industry side streams. Co-founded by Jarna Hyvönen and Tuure Parviainen, Volare claims the plant's €15 million construction cost was met on schedule and within budget, showcasing their capability to create cost-effective production capacity.
Founded in 2021, the company has rapidly scaled up from its demonstration plant, capitalizing on research from VTT Technical Research Centre of Finland. Hyvönen highlights the company's circular economy approach, emphasizing the use of black soldier flies to transform food industry waste into sustainable protein, oil, and fertilizer.
Despite the challenges faced by the European insect protein industry, Volare's strategic approach, including the repurposing of an old printing facility and their expertise in black soldier fly technology, positions them for future growth in Europe's alternative protein market.
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