Finnish biotech company Volare today announces the closing of a EU€26 million funding round to build Volare 01 – a facility set to become the most efficient protein production plant in the world, and to advance its unique technology.
Located in Pori, Finland, the plant will serve as a cornerstone in scaling Volare’s proprietary insect protein technology and marks a major step toward advancing sustainable aquaculture. The round includes a mix of equity, mezzanine and senior loans, and public funding, with support from Maki.vc, Firstminute Capital, Springvest, the Finnish Climate Fund (to be merged with Finnish Industry Investment), Finnvera, Norion Bank, and other financial institutions.
According to the European Commission, the European Union is currently only 34 percent self-sufficient in protein concentrates (those containing more than 30 percent protein), leaving the region heavily reliant on imports. This reliance makes the food system increasingly vulnerable to supply chain disruptions, geopolitical instability, and price volatility. At the same time, global demand for aquafeed is growing by more than 5 percent annually, while fishmeal supply remains stagnant. Volare addresses this challenge with a circular production model that upcycles food industry side streams into high-quality insect protein, oil, and fertilizer. This scalable, sustainable solution not only reduces reliance on imported and resource-intensive ingredients but also enhances the nutritional value and environmental performance of aquafeed – contributing to a more resilient food system and seafood industry.
At the core of Volare’s breakthrough is the black soldier fly (Hermetia illucens), nature’s most efficient bioreactor. These insects naturally convert food industry byproducts into high-value resources with exceptional efficiency. While such byproducts are often incinerated – wasting their potential – Volare upcycles them into premium insect protein, oil, and fertilizer. Leveraging a brownfield location, Volare offers a significantly more capital-efficient setup than greenfield builds. Several key technologies integrated into the process achieve a 30 percent reduction in processing energy use and aim to cut hygienization energy use by 50 percent, enabling operational expenditure (OPEX) performance unseen in the insect technology sector. Volare’s technology is designed for maximum resource efficiency: it operates without fossil fuels, produces zero wastewater, and results in a substantially lower carbon footprint than conventional protein sources. By replacing wild-caught fish and cutting CO₂ emissions, Volare’s ingredients play a direct role in decarbonizing aquaculture and advancing sustainable global food production.
Volare’s insect protein is not only sustainable but also meets the highest standards of nutritional and functional quality. Developed in close collaboration with leading aquaculture feed experts, the product has been optimised from the ground up and is already proven in commercial use. An offtake agreement with Skretting, a global aquafeed leader, ensures long-term demand from the upcoming facility. Volare is also currently piloting insect-fed rainbow trout in Finland through a 150,000 kg collaboration with Alltech Fennoaqua, a Finnish fish farmer, and a distributor. As large-scale production begins, Volare is well-positioned to support Norwegian producers with a high-quality, regionally sourced alternative to imported fishmeal, offering shorter lead times, lower emissions, and improved supply reliability. On top of aqua feeds, Volare is also serving the petfood industry. The Volare 01 plant will produce 5000 tonnes of protein – equivalent to the yield of 200 million Baltic herrings annually, approximately 18 percent of Finland’s total commercial fish catch in protein terms. Designed for scalability, the facility will serve as a platform for future expansion across Europe.
Tuure Parviainen, Chief Science Officer and co-founder of Volare, said: “Now, we’re entering a new phase: scaling up to full industrial production. Our new facility will bring our proprietary, zero-waste, fossil-free process to life at scale, transforming food industry byproducts into high-quality protein and strengthening Europe’s food resilience.”
Jarna Hyvönen, CEO of Volare, said: “This investment marks a major step toward full-scale operations and reinforces Volare’s position at the forefront of the global protein transition.”
