BioFlyTech

Bioflytech is a Spanish biotech company specializing in the production of insect-based ingredients, primarily derived from black soldier fly larvae (BSFL). Founded in 2012 and originally linked to the University of Alicante, the company was acquired by Moira Capital Partners in 2018. Bioflytech operates two production facilities in Spain - one in Fuente Álamo, Murcia, and a newer plant in Palas de Rei, Galicia. The company focuses on producing dried larvae, high-protein meals, fats, and compost from BSFL for use in animal feed, aquaculture, pet food, and to a lesser extent, the pharmaceutical and cosmetics industries.

The Fuente Álamo facility, operational since 2019, has an annual production capacity of 4,000 tonnes of fresh larvae, yielding about 1,300 tonnes of meal and 400 tonnes of fat. It also houses a significant BSFL hatchery, producing 180kg of eggs per month. Bioflytech plans to invest EUR 2.8 million to expand this hatchery's capacity to 350kg of eggs per month by the second half of 2024.

In April 2024, Bioflytech commenced production at its new Palas de Rei facility, becoming one of the first Spanish companies authorized to produce, transform, and market BSFL-derived products. This plant is equipped with advanced rendering and drying machinery, including a proprietary gas rendering installation designed to manufacture customized flours with specific protein and fat percentages. The facility's initial production capacity is 12,000 tonnes of fresh larvae annually, with plans to expand to 100,000 tonnes per year in future phases. The Palas de Rei complex, spanning 140,000 square meters, will eventually include eight facilities for production, larvae fattening, and compost storage.

Key customers and partnerships

Bioflytech's products cater primarily to the animal feed industry, with a focus on pet food and aquaculture. The company's dried larvae are specifically designed for laying hens and broiler chickens, while its protein meals serve the pet food, aquaculture, and poultry industries. Bioflytech's fats find applications in animal feed, pharmaceuticals, and cosmetics, being used in products such as soaps and moisturizing creams. The company's compost is utilized as fertilizer in agriculture. The company has positioned itself as a significant player in the European insect protein market, with its innovative approach to sustainable ingredient production garnering attention across various industries.