Sunday, February 25, 2024

US meat producer invests in Dutch insect protein

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Tyson, a US producer of beef, pork, and chicken, is betting on protein that comes from insects.

The meat processor said on Tuesday that it has invested in Protix, a Netherlands-based insect ingredients maker. Tyson is not only taking a minority stake in the company but is working alongside it to build a US factory. That facility will use animal waste to feed black soldier flies, which will then be turned into food for pets, poultry, and fish. Tyson did not disclose the financial specifics of the deal.

Those flies are not going into human food at this point. “Today, we’re focused on more of [an] ingredient application with insect protein than we are a consumer application,” said John R. Tyson, chief financial officer of Tyson Foods.

“One feature of being in the animal protein business is having to figure out … how to derive value from” waste, Tyson said. “We saw this as an extension of our existing business,” he said of the collaboration with Protix, adding that the insect ingredient market has “really attractive growth characteristics that would accelerate Tyson.”

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