Biotechnology firm Tebrio has completed a €30 million (US$32.4 million) funding round, which will be directed toward expanding Tebrio's production capabilities at its 90,000-square-meter facility currently under construction in Salamanca, Spain.
Specializing in the large-scale industrial production of Tenebrio molitor (commonly known as mealworms), Tebrio aims to boost its annual production to over 100,000 tons, meeting increased demand and fulfilling existing client commitments. This funding positions Tebrio to scale its operations to meet growing global needs for sustainable insect-based products used across sectors, including animal feed and bioplastics.
Tebrio produces and processes the Tenebrio molitor insect and has a 3,500-square-meter (38,000-square-foot) production plant, from which hundreds of tons of protein, fat, biofertilizer and chitosan are produced each year. Tebrio said it began operations in 2014 with the mission of providing innovative and 100% sustainable solutions for the agri-food industry. It said it focuses on food safety, sustainability and the circular economy model.
"This new round of investment in our company validates our industrial model based on proprietary technology," said Adriana Casillas, CEO and cofounder of Tebrio. "A model that allows us to produce at competitive prices in the markets where we operate, thus serving as a platform to expand our operations to different geographic markets."
