Enterra closes new round to build insect production facilities
Enterra Feed Corp, a maker of insect-based feed ingredients, has closed a new round of financing. Terms weren't disclosed. Cibus Fund, the food technology fund of Hong Kong's ADM Capital, led the deal. It was joined by Germany's PHW Group and a Canadian family-owned investment firm. All three are new investors. Existing investors Avrio Capital and Wheatsheaf Group also participated. Enterra said the funds raised will be used to build three new facilities for $30 million each. The plants, which will increase the company's production of nutrition-rich insects for animal feed, will be located in Alberta, British Columbia and the Midwestern United States. Langley, British Columbia's Enterra was founded in 2007 and is led by CEO Geoff Gyles.
23 August 2018•5 mins read
