Ynsect, stablished in France, recently received an infusion of $176 million to develop insect derived protein.  Advisors to the company have suggested a focus on pet food rather than animal feed.

Funds will be used to expand the major production center in Amiens. The Dutch subsidiary Protifarm will be closed, reducing headcount both in Holland and France.

According to Antoine Hubert, CEO of Ynsect, reducing fixed and operating costs and focusing on high margin products should generate a positive return on capital invested.