Tyson Foods to Introduce “Bug-Based” Protein Production In the United States
Recently, Tyson Foods announced a new partnership with Dutch company Protix, which specializes in producing insect-based protein ingredients. Tyson will reportedly acquire a minority stake in the company through a direct equity investment with aspirations of bringing insect ingredient production to the United States.
“Tyson Foods, Inc. (NYSE: TSN), one of the world’s largest food companies, has reached an agreement for a two-fold investment with Protix, the leading global insect ingredients company. The strategic investment will support the growth of the emerging insect ingredient industry and expand the use of insect ingredient solutions to create more efficient sustainable proteins and lipids for use in the global food system. The agreement combines Tyson Foods’ global scale, experience and network with Protix’s technology and market leadership to meet current market demand and scale production of insect ingredients,” according to an official statement from Tyson.
Tyson Foods seeks to utilize the joint venture to expand insect ingredient facilities both globally and in the United States. According to the company’s official statement, Tyson Foods looks to incorporate insect protein into “pet food, aquaculture, and livestock industries.”
“Our partnership with Protix represents the latest strategic investment by Tyson Foods in groundbreaking solutions that drive added value to Tyson Foods’ business,” said John R. Tyson, chief financial officer of Tyson Foods. “The insect lifecycle provides the opportunity for full circularity within our value chain, strengthening our commitment to building a more sustainable food system for the future.”
