Periodic Reporting for period 2 - CHiPInB (Commercialising High Performance Insect Breeds via a Platform for Typing of Insect Strains)
Berichtszeitraum: 2021-07-01 bis 2022-12-31
Issue - A rising population to 9.5Bn by 2050 will see livestock and aquaculture demand increase by over 70%. To meet these demands, livestock and aquaculture producers rely on high protein feedstocks. Insect protein has huge potential to be produced efficiently, ensuring a reliable, cost-effective and low footprint alternative source of protein that addresses growing protein demand, strengthens regional supply chains and enables a circular economy. As a result, a growing number of companies worldwide are already commercially farming the Black Soldier Fly (BSF) and actively targeting the “insects as feed” sector, estimated to be worth €2.1B by 2030.
Challenge - Insect farming is a rapidly emerging industry. However, as the industry reaches commercial scale, high production costs are a current challenge for BSF producer profitability and entry into the livestock feed market, as they face price point competition with soya and fishmeal protein.
Opportunity - As a developer and distributor of Black Soldier Fly breeds, Beta Bugs enables the industry by supplying insect breeds that deliver cost-effective and climate-friendly protein for animal and aqua feed. Beta Bugs sells performance gains: Performance that improves on-farm productivity and the bottom line, enabling insect farmers to do more with less. This is important because insect meal has negligible environmental impact, ensures continuous and consistent supply and presents no price volatility, making it a more desirable long-term alternative that can help meet the growing demand for protein and avoid the protein gap.
Project Conclusions – The CHIPINB project enabled Beta Bugs to accelerate its commercialization and market entry plans by achieving the following objectives:
1. Finalising the Company’s Bespoke Breeding Technologies
2. Developing a Technically Validated & Costed Product Commercialisation Plan
3. Undertaking Strategic Business Development
4. Undertaking a Communication Campaign.
Specific conclusions that arose from these objectives were:
1. The overall breeding programme and PLATYPIS were developed into a system that could be rapidly iterated and refined on, enabling the company to improve the means by which HiPer-Fly® is further developed. By project close, HiPer-Fly®, the company’s flagship product was successfully commercialized.
2. The Company was able to scale-up its product and supply it at commercially relevant scales to a variety of customers. In addition, the business was able to refine further on its commercial strategy and cost structure.
3. By capitalizing on the relationships it developed and deepened during the project, Beta Bugs was able to position itself to grow market share by executing on its commercial strategy, whilst also ensuring it addresses any regulatory and IP requirements.
4. By engaging with the wider sector via a Communications Campaign, the Company not only positioned itself as a developer and distributor of Black Soldier Fly breeds, but also as a thought leader for the wider insect farming sector.
Challenge - Insect farming is a rapidly emerging industry. However, as the industry reaches commercial scale, high production costs are a current challenge for BSF producer profitability and entry into the livestock feed market, as they face price point competition with soya and fishmeal protein.
Opportunity - As a developer and distributor of Black Soldier Fly breeds, Beta Bugs enables the industry by supplying insect breeds that deliver cost-effective and climate-friendly protein for animal and aqua feed. Beta Bugs sells performance gains: Performance that improves on-farm productivity and the bottom line, enabling insect farmers to do more with less. This is important because insect meal has negligible environmental impact, ensures continuous and consistent supply and presents no price volatility, making it a more desirable long-term alternative that can help meet the growing demand for protein and avoid the protein gap.
Project Conclusions – The CHIPINB project enabled Beta Bugs to accelerate its commercialization and market entry plans by achieving the following objectives:
1. Finalising the Company’s Bespoke Breeding Technologies
2. Developing a Technically Validated & Costed Product Commercialisation Plan
3. Undertaking Strategic Business Development
4. Undertaking a Communication Campaign.
Specific conclusions that arose from these objectives were:
1. The overall breeding programme and PLATYPIS were developed into a system that could be rapidly iterated and refined on, enabling the company to improve the means by which HiPer-Fly® is further developed. By project close, HiPer-Fly®, the company’s flagship product was successfully commercialized.
2. The Company was able to scale-up its product and supply it at commercially relevant scales to a variety of customers. In addition, the business was able to refine further on its commercial strategy and cost structure.
3. By capitalizing on the relationships it developed and deepened during the project, Beta Bugs was able to position itself to grow market share by executing on its commercial strategy, whilst also ensuring it addresses any regulatory and IP requirements.
4. By engaging with the wider sector via a Communications Campaign, the Company not only positioned itself as a developer and distributor of Black Soldier Fly breeds, but also as a thought leader for the wider insect farming sector.
During the CHIPINB project, Beta Bugs undertook the following work across multiple work packages:
1. Finalising the Company’s Bespoke Breeding Technologies - the Company established a scaled facility to house its Platform for Typing of Insect Strains (PLATYPIS) at the Easter Bush Campus, recognized centre of excellence for animal health and genetics. The breeding programme developed by Beta Bugs enabled genetic improvement of the company’s product, HiPer-Fly® on a continuous basis. By project close, HiPer-Fly® was successfully commercialized.
2. Technically Validated & Costed Product Commercialisation Plan - Beta Bugs evidenced performance gains for HiPer-Fly. In addition, the Company developed a manufacturing process to scale-up HiPer-Fly® to supply it at commercially relevant scales. Data collected from the process was used to inform the Company’s commercialization plans.
3. Strategic Business Development - in parallel to technology commercialisation, the Company engaged with the customers and key stakeholders in the insect-farming and agri-food sectors. The business determined a suitable market expansion plan to capture further market share. In addition, the company reviewed its existing IP and implemented best practises across its operations to ensure retention and protection.
4. Communication Campaign - the Company developed and implemented an annual Communication plan, and rolled it out across multiple social media channels, its website and Beta Buzz, a dedicated Black Soldier Fly industry magazine that it developed. In addition, the Company also affiliated itself with specific industry groups so that it could better form an understanding of the impact of its activities.
Exploitation - Project results have been exploited to accelerate company commercialization, enable revenue generation, and position the company to grow market share.
Dissemination – the Company has undertaken a wide variety of dissemination activities, including promotion in social media, trade press and national media. In addition, members of the leadership team presented at a wide variety of industry events, promoting the company and its products to stakeholders in the agri-food and retail sectors.
Combined, these exploitation and dissemination activities enabled the company to generate inbound customer prospects, investor interest and stakeholder communications, all of which enable the Company’s brand and exploitation of project results.
1. Finalising the Company’s Bespoke Breeding Technologies - the Company established a scaled facility to house its Platform for Typing of Insect Strains (PLATYPIS) at the Easter Bush Campus, recognized centre of excellence for animal health and genetics. The breeding programme developed by Beta Bugs enabled genetic improvement of the company’s product, HiPer-Fly® on a continuous basis. By project close, HiPer-Fly® was successfully commercialized.
2. Technically Validated & Costed Product Commercialisation Plan - Beta Bugs evidenced performance gains for HiPer-Fly. In addition, the Company developed a manufacturing process to scale-up HiPer-Fly® to supply it at commercially relevant scales. Data collected from the process was used to inform the Company’s commercialization plans.
3. Strategic Business Development - in parallel to technology commercialisation, the Company engaged with the customers and key stakeholders in the insect-farming and agri-food sectors. The business determined a suitable market expansion plan to capture further market share. In addition, the company reviewed its existing IP and implemented best practises across its operations to ensure retention and protection.
4. Communication Campaign - the Company developed and implemented an annual Communication plan, and rolled it out across multiple social media channels, its website and Beta Buzz, a dedicated Black Soldier Fly industry magazine that it developed. In addition, the Company also affiliated itself with specific industry groups so that it could better form an understanding of the impact of its activities.
Exploitation - Project results have been exploited to accelerate company commercialization, enable revenue generation, and position the company to grow market share.
Dissemination – the Company has undertaken a wide variety of dissemination activities, including promotion in social media, trade press and national media. In addition, members of the leadership team presented at a wide variety of industry events, promoting the company and its products to stakeholders in the agri-food and retail sectors.
Combined, these exploitation and dissemination activities enabled the company to generate inbound customer prospects, investor interest and stakeholder communications, all of which enable the Company’s brand and exploitation of project results.
Progress beyond state of the art: Via this project, the Company developed an industry-leading breeding programme that improves genetic performance of Black Soldier Fly Larvae in multiple traits. In addition, the company established a dedicated egg production operation, a first within the UK. These position the company as a developer and distributor of Black Soldier Fly breeds, able to supply insect farmers at commercially relevant scales.
Results until end of project include the full commissioning of the insect breeding facility, dedicated production facility, revenue generation via commercialized product, a fully validated commercialisation plan, deepened relationships with customers and stakeholders within the insect farming and agri-food sectors, and an active communication campaign that positioned the Company as a thought leader in insect farming.
Socio-economic impacts: With support from this project, Beta Bugs was able to more than triple headcount, going from a team of 4 to a team of 14. The company anticipates doubling in head-count over the next 3 years, creating green jobs within manufacturing, R&D and management. In addition, the Company’s operations are enabling the establishment of insect farming operations, all of which will create further jobs and economic activity across the UK and Europe.
Wider societal impacts: As a result of Beta Bugs’ developed offering, UK and EU feed manufacturers will benefit from a regional, localized black-soldier-fly protein production which will reduce the import of fishmeal and soymeal and the cost of feed production. This will positively impact the aquaculture and livestock sectors since producers and processors will benefit from stable, and potentially reduced, feed costs. Global production is estimated to be up to 1M tonnes of insect protein/year. This would allow for displacement of a corresponding amount of soya and fishmeal from the agri-food supply chain.
Results until end of project include the full commissioning of the insect breeding facility, dedicated production facility, revenue generation via commercialized product, a fully validated commercialisation plan, deepened relationships with customers and stakeholders within the insect farming and agri-food sectors, and an active communication campaign that positioned the Company as a thought leader in insect farming.
Socio-economic impacts: With support from this project, Beta Bugs was able to more than triple headcount, going from a team of 4 to a team of 14. The company anticipates doubling in head-count over the next 3 years, creating green jobs within manufacturing, R&D and management. In addition, the Company’s operations are enabling the establishment of insect farming operations, all of which will create further jobs and economic activity across the UK and Europe.
Wider societal impacts: As a result of Beta Bugs’ developed offering, UK and EU feed manufacturers will benefit from a regional, localized black-soldier-fly protein production which will reduce the import of fishmeal and soymeal and the cost of feed production. This will positively impact the aquaculture and livestock sectors since producers and processors will benefit from stable, and potentially reduced, feed costs. Global production is estimated to be up to 1M tonnes of insect protein/year. This would allow for displacement of a corresponding amount of soya and fishmeal from the agri-food supply chain.