Insect protein specialist AgriProtein has moved its global headquarters to London and has appointed two new directors to oversee an ambitious expansion programme around the world.
The business, started in South Africa in 2008, plans a network of 100 organic waste to insect protein factories around the world by 2024 and 200 by 2027, with its output initially aimed at the aquaculture feed market. Its early development was helped by grants from the Bill and Melinda Gates Foundation, and it now claims to have $17.5 million to invest in sustainable feed protein manufacture.
“With the tide of European regulation starting to move in favour of insect protein for animal feed, we felt the time had come to set up our head office in Europe,” notes chief executive Jason Drew. “We opted for London because of its unrivalled position as a global financial centre and access to international markets. Brexit is no barrier for our technology.”
Mark Williams joins as AgriProtein’s group chief operating officer. He was most recently head of Nomura Investment Banking in Asia and before that spent a decade with UBS in Hong Kong. His new remit is to drive the global roll-out of new factory projects, hire senior talent and engaging with financial markets as the company continues to grow.
Alan Corr is the new group chief financial officer. He joins from Fidelity International in Hong Kong, where he was chief financial & operating officer, after a spell managing Macquarie’s Asian wealth management business.
“The appointments of Mark Williams and Alan Corr are a watershed for the business,” notes Mr Drew. “With their outstanding corporate track records, they’re joining at a time when we’re undergoing massive growth. Mark and Alan share our commitment to finding a better way to feed the world and we look forward to having them on board.”
AgriProtein has already allocated licenses in the US, Asia, Australasia and the Middle East. In February it announced a partnership with the Austrian engineering company Christof Industries – it can now roll out its fly factory blueprint at the rate of 25 per year anywhere in the world.