ENORM Biofactory closes DKK370 million financing for insect protein factory
DLG joins the shareholder group, with financing from the Danish Green Investment Fund and Nykredit Bank.
ENORM Biofactory announced on January 26, 2022 that it had closed DKK370 million in financing for a commercial insect production facility in Denmark. The package brought together investors and lenders, including DLG, the Danish Green Investment Fund and Nykredit Bank.
DLG became a major shareholder and agreed to purchase protein from the planned factory. The financing was intended to scale production beyond ENORM’s pilot plant and establish a larger facility near Hedensted. Individual equity and lending allocations were not disclosed.
The company’s process used food-industry biomass to rear larvae for animal-feed ingredients, including protein and oil, with fertiliser as a further output.
Use of funds
Commercial insect protein factory