About my Start-up
Hexafly is using insects to feed the world. With revolutionary breeding and bio-conversion technologies, we maximise the extraction of high-value protein, oil and fertiliser products for the aquaculture, animal feed and plant nutrition industries. Our process produces no waste, lowers GHG emissions, optimises land usage, utilises industrial and agricultural waste streams and improves plant and animal nutrition and health.
Why your idea is a “winner"?:
Hexafly produces only 0.03kg Co2 eq per 100g of protein and we aim to bring this down even more. This compares to avg. 50kg C02 eq per 100g of beef. We use no chemicals, no antibiotics and no additives to create our product. We allow nature to take it's course.
Hexafly can create a complete circular economy allowing producers, retailers and consumers to participate in the process by providing 'feed' for our insect farm (brewers grains, fruit & veg waste etc) and in turn they can use our products to feed animals and plants and continue this cycle. We are at the forefront of multiple billion euro industries during a time when problems around oil and food security are becoming increasingly dangerous.
Hexafly can feed the world
What is your current or intended business/revenue model?:
Hexafly operate a Hybrid model. Primary focus is on B2B sales. Secondary focus on B2C sales. B2C involves selling our products to medium-large customers directly. B2B involves selling our products to distributors, wholesalers and online. The split is currently 80% B2B and 20% B2C
Do you have any Patent or IP registered (related to the solution that you are looking for an investment)?:
We have IP relating to a number of our products. This IP focuses on animal and human health and immunity, and natural pest control for crops.
Has your technology already been implemented in any field/sector?:
Yes, there are other companies, predominantly based in Europe that farm insects. No company has taken a significant share of the market to date and it is currently a race to scale as there are a number of large feed players in the market interested in gaining access to large quantities of insect products. Supply cannot keep up with demand at present. The global feed market is valued at €450 billion.
Ireland has some of the strictest agricultural legislation in the world which creates a competitive advantage for us as we can ensure high quality.
We are also market leaders in egg production which allows us to produce more stock with less time, space, feed and labour.
Which market and customer need(s)/problem(s) is (are) your products(s)/service(s) going to solve?:
To keep up with population growth, global food production will have to increase by at least 70% by 2050. Conventional sources of protein from animals or plants are unsustainable. Increased demand for protein, increases demand for multiple natural resources, land, water, oil (fertiliser) and more. As the number of animals needed to fill our protein requirements increases, a great strain is put on animal feed sources and agricultural land, driving up unsustainable land usage across the globe. The increase in feed requirements results in deforestation, depletion of fresh water resources and reduced air, land and water quality as farmers increase their use of chemical fertilisers in an attempt to keep up with demand from humans and animals.
Part of the current solution is encouraging people to eat more fish. As a result, we are becoming more reliant on aquaculture farms that supply nearly 50% of fish consumed by humans now. Aquaculture feed is 30-50% fishmeal, a feed produced from wild-caught fish (yes, that means feeding wild-caught fish to farmed fish). This gives rise to more unsustainable fishing and farming practices as the demand for crops and wild fish increases further, putting even more strain on the planet.
The current practices leave the planet in a vicious cycle. An ever-increasing demand for food is pitted against a supply chain already struggling to cope. It simply does not work. The supply cannot and will not meet demand. Hexafly can solve this problem using insects. We produce vast amounts of high-quality protein using byproducts from other industries, in a sustainable process requiring no chemicals and producing no waste.
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