Tyson Foods Announces Partnership with Protix for More Sustainable Protein Production
October 17 2023 - 8:00AM
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.
Through a direct equity investment, Tyson Foods
will acquire a minority stake in Protix to help fund its global
expansion. In addition, Tyson Foods and Protix have entered a joint
venture for the operation and construction of an insect ingredient
facility in the continental United States. Upon completion, it will
be the first at-scale facility of its kind to upcycle food
manufacturing byproducts into high-quality insect proteins and
lipids which will primarily be used in the 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.”
Kees Aarts, CEO of Protix, says: “We are very
excited to announce the next step in our international growth
strategy. Tyson Foods’ and Protix’s strategic partnership advances
our joint work towards creating high-quality, more sustainable
protein using innovative technology and solutions. Moreover, we can
immediately use their existing byproducts as feedstock for our
insects. This agreement is a major milestone for Protix and
significantly accelerates our ambition to grow through
international partnerships.”
The to-be-built facility in the U.S. will house
an enclosed system to support all aspects of insect protein
production including the breeding, incubating, and hatching of
insect larvae. In addition to ingredients for the aquaculture and
pet food industries, processed larvae may also be used as
ingredients within livestock and plant feed.
Protix is a fully integrated insect ingredients
company, producing and processing 14,000 metric tons LLE annually
in its Netherlands facility which has been in operation since 2019.
It serves major global companies in the pet food, aquaculture feed,
livestock feed and organic fertilizer industries as the demand for
insect ingredients continues to grow.
Tyson Foods continues to develop solutions to
create a food system that is more sustainable and equitable for
future generations. To learn more about Tyson Foods' sustainability
initiatives, visit tysonfoods.com/sustainability.
About Tyson Foods, Inc. Tyson
Foods, Inc. (NYSE: TSN) is one of the world’s largest food
companies and a recognized leader in protein. Founded in 1935 by
John W. Tyson and grown under four generations of family
leadership, the Company has a broad portfolio of products and
brands like Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®,
Wright®, Aidells®, ibp® and State Fair®. Tyson Foods innovates
continually to make protein more sustainable and affordable to meet
customers’ needs worldwide and raise the world’s expectations for
how much good food can do. Headquartered in Springdale, Arkansas,
the Company had approximately 142,000 team members on October 1,
2022. Through its Core Values, Tyson Foods strives to operate with
integrity, create value for its shareholders, customers,
communities and team members and serve as a steward of the animals,
land and environment entrusted to it. Visit www.tysonfoods.com.
About Protix
Protix is the leading company in insect-based
ingredients for healthy and sustainable pet food, aquaculture and
livestock feed and organic fertilizer. The company is on a mission
to create low-footprint ingredients that solve major issues in the
current food system. Protix contributes to a circular food chain by
using waste from the food industry as feed for the black soldier
fly (BSF). In turn, the insects are processed into valuable
nutrients such as proteins and lipids. Protix’s customers use these
proteins and lipids as high-quality ingredients for feed and food.
Moreover, residual streams from the insects are used as organic
fertilizer. This way, insects close the loop and bring the food
system back in balance with nature.
Based in the Netherlands, Protix operates the
first-in-the-world industrial insect facility, opened in 2019. With
breeding, rearing and processing under one roof, the company has
complete control of the production chain and offers reliable,
high-quality supply. As the frontrunner and industry leader, Protix
has laid the basis for a broad range of applications in feed and
food. The company is now expanding internationally to deliver its
solutions on a much broader scale. Protix believes in the power of
partnerships, and actively seeks collaboration with
forward-thinking players to unleash the potential of insect
ingredients for the world. www.protix.eu.
Media Contact: Laura Burns, 479-713-9890Investor
Contact: Sean Cornett, 479-466-0401Category: IRSource: Tyson
Foods
Tyson Foods (NYSE:TSN)
Historical Stock Chart
From Jul 2024 to Aug 2024
Tyson Foods (NYSE:TSN)
Historical Stock Chart
From Aug 2023 to Aug 2024