16 April 2021 - The UK headquarter operations of one of the insect feed industry’s first big players - AgriProtein (part of the Insect Technology Group), established in South Africa in 2008 - are under administration, company CEO and founder Jason Drew confirmed to Feedinfo today.
The affairs, business and property of the company are being managed by administrators at UHY Hacker Young LLP in London. The date of administration recorded is 22 February 2021.
In 2017, AgriProtein had announced plans to partner with construction firm Christof Industries to build 100 facilities worldwide by 2024 and a further 100 by 2027. In 2018 and 2019, the company had been raising funds and entering global partnerships.
Now, the company is in the process of selling its flagship facility in Cape Town, according to news organisation Quartz.
Cited in Quartz Africa, Drew said the Cape Town R&D and production test facility had been “invaluable” as his firm began to develop its large scale factories, but “the site has come to the end of its usefulness for the group,” he said.
While two sites in California and the Netherlands are complete, building timelines were delayed, and the other 98 facilities planned have not even been started, also reported Quartz Africa.
Drew told Feedinfo that further details will be released once transactions are complete.