Budapest, September 13, 2023 – The “companies of the future” and the most significant green projects in the country were awarded at the second Sustainable World conference. In a grand awards ceremony, the winners of the Green Awards were announced in five categories, recognizing the most innovative sustainability-focused companies. This year, the professional jury voted Agroloop as the winner in the Green Innovation of the Year category, which contributes to environmental reduction through feed-grade insect farming and supports animal health preservation with locally produced solutions.
Sustainable Solution for Protein Needs
With the growth of the world’s population, there is an increasing need for food, especially protein sources, in the coming decades. At the same time, the number of pet animals kept in homes is constantly increasing, already consuming 25% of the world’s produced meat. Not to mention that arable land is decreasing, while 80% of crop production is dedicated to livestock feed. Compounding the problem, the European Union imports 75% of its protein, which poses a significant risk for both the EU and Hungary.
Agroloop offers a long-term, sustainable solution to this problem and was awarded the Green Innovation of the Year at the Portfolio Green Awards on September 12, 2023, in Budapest. “It’s a great pride for us to be counted among the greenest companies in the country, and it’s even more gratifying that our efforts are being recognized in this way. However, we won’t stop here because our goal is not only to reduce protein dependency in Europe but also to make the entire food supply chain more efficient and sustainable,” said Rajmond Percze, co-founder and CEO of Agroloop, at the event.
Launching the First Insect Protein Mega Facility in Hungary
The company’s exceptional innovation quickly caught the attention of investors. Following its establishment in 2020, they received close to 18 million euros in financing by the end of 2022. Thanks to this funding, they will expand their black soldier fly larvae farming and processing activities with a large-scale investment by the end of 2024. “We are continually improving our processes to contribute even more to the development of a circular biomass-based domestic economy. It’s a tremendous honor for us that our partners also support us in this endeavor,” added Rajmond Percze.
According to the plans, the company will expand with the region’s most significant insect farming and processing facility on the outskirts of Budapest, processing approximately 60 tons of feedstock daily. The premium quality feed protein and oil produced in this way not only provide excellent ingredients for pet and livestock feed but also offer an innovative solution to reduce the environmental impacts of animal feedstock production. As a prominent player in the feed-grade insect market, Agroloop is also working on developing a natural, larvae-based organic fertilizer that not only promotes plant nutrition and soil life but also effectively helps control pest insects.