Under this alliance, Feed One, a subsidiary of Vinh Hoan, has entered into an offtake agreement to procure a substantial volume of insect protein from Entobel's state-of-the-art Vung Tau facility in 2024.
Beyond this initial agreement, Vinh Hoan has committed to purchasing a minimum of 15,000 metric tons of insect protein from Entobel annually, spanning from 2025 to 2027.
Nguyen Ngo Vi Tam, CEO of Vinh Hoan, emphasizes that this collaboration will contribute to the adoption of Entobel's insect protein in pangasius production, paving the way for a more sustainable sourcing of aquaculture feed ingredients.
In November 2023, Entobel commenced operations at its Vung Tau facility, which it says is a highly capital-efficient black soldier fly production facility. The plant comprises 50 levels of vertical rearing, with the facility employing automation through robotics, sensors, and data analytics. With an annual production capacity of 10,000 metric tons, Entobel's Vung Tau facility stands as one of the largest insect protein production sites globally.
Entobel's established its first commercial site in 2019 in Vietnam, following six years of pilot and demonstration-scale R&D activities.
Co-founders Gaëtan Crielaard and Alexandre de Caters, originating from Belgium, strategically chose Vietnam for its tropical climate ideal for rearing BSF larvae and lower energy costs compared to European counterparts. Access to high-quality feedstock was further secured through a collaboration with Heineken's operations in Vietnam, upcycling byproducts of the brewing process.
Looking ahead, Entobel is gearing up for its Series C funding round in Q2 2024 to support regional growth plans, including the construction of new facilities in key markets such as Vietnam, Indonesia, and Malaysia.
Asian hub
The landscape of insect protein production in Asia has been witnessing significant growth.
Several producers, including Veolia Bioconversion Malaysia and Nutrition Technologies, have received approval to export their products to the EU market. Protenga, a Singapore-based insect ingredient developer, is also garnering investments.
