The organic waste recycling company Entoprotek has raised $ 2 million in investment from Israel’s Granot, the parties said. In total, the current round is designed for $ 30 million, it is planned to complete it by the beginning of the IV quarter of 2022, says a representative of Entoprotek. In addition to investments in the Russian plant, Entoprotek and Granot have agreed to jointly finance an enterprise for the production of feed protein from organic waste in Israel, representatives of the parties say. They do not name the investments in this project and the terms of implementation. In addition, the possibility of cooperation in the Middle East and Africa is being considered.
Entoprotek was founded by Naum Babaev and Rashid Khairov, the owners of Damate, the largest turkey producer in Russia, as well as their partners Ivan Sokolov and Alexander Bastrakov in 2016. The company uses insect larvae from the black lioness to process food waste. According to Sokolov, they eat waste for seven days. After that, the enterprise makes several types of products from the insect itself: a protein feed additive for animal husbandry enterprises, fat, which serves as a component for feed, as well as for cosmetics and medicines. Now the plant, located in the Penza region, is designed to process 15 tons of waste per day.