Nasekomo secures €2.5M European grant for biotech advancements

13 September 20232 min reading

Nasekomo, a European insect-tech firm, has been awarded a €2.5M grant from the European Recovery and Sustainability Plan, highlighting its innovative contributions to biotechnology and sustainability. The funding bolsters the company's vision for advancing the circular bio-economy.

European insect-tech firm Nasekomo has announced its selection for a grant under the European Recovery and Sustainability Plan. This funding recognizes Nasekomo's contributions to biotechnology and sustainability, having previously earned the Seal of Excellence from the European Commission in 2022.

Administered by the Bulgarian Ministry of Innovation and Growth, this national support distinguishes Nasekomo among 12 Bulgarian enterprises that have showcased notable innovations. Of the BGN 34 million allocated for all the recognized companies, Nasekomo will receive BGN 4.9 million (€2.5 million). This financial support aims to further Nasekomo's objectives in enhancing the circular bioeconomy and addressing sustainability issues.

The Seal of Excellence, managed by the European Innovation Council as part of Horizon Europe, identifies and supports projects of notable quality and innovation, emphasizing the potential contributions to the European economy.

The grant will be utilized by Nasekomo in its initial phase to develop an international network of bioconversion factories. These factories, in collaboration with other agricultural or industrial entities, will focus on the sustainable use of secondary raw materials. Nasekomo plans to provide the factories with necessary supplies, including the Hermetia Illucens larvae, bioconversion equipment, and a digital platform to harness data via machine learning.

Highlighting the importance of the insect industry, Nasekomo aims to address various environmental concerns. The company's efforts are projected to potentially save 560,000 tons of wild fish annually by reducing fishmeal production, lessen Europe's dependency on imported soybeans, and decrease carbon emissions by approximately 430,000 tons each year.

Committed to advancing the insect industry, Nasekomo has been investing in pioneering technology, holding multiple international patents related to robotic solutions for insect farming. As a frontrunner in this expanding sector, Nasekomo continually refines its technological approaches to insect cultivation and bioconversion. Their technologies have drawn global investor interest and are currently showcased at the Nasekomo Insect Center of Excellence (NICE) in Sofia. This grant is anticipated to span two years, aiding in bringing Nasekomo's innovative projects to fruition.

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