Tyson Foods Announces Partnership with Protix for More Sustainable Protein Production
- Tyson Foods has reached an agreement for a two-fold investment with Protix, the leading global insect ingredients company. The partnership aims to support the growth of the emerging insect ingredient industry and expand the use of insect ingredient solutions in the global food system. Tyson Foods will acquire a minority stake in Protix and the two companies will enter a joint venture to construct an insect ingredient facility in the US. The facility will be the first at-scale facility of its kind to upcycle food manufacturing byproducts into high-quality insect proteins and lipids. This partnership demonstrates Tyson Foods' commitment to innovation and sustainability in the food industry.
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The partnership represents Tyson Foods’ commitment to continuous innovation, business growth and working towards sustainable solutions, opening a new revenue stream while accelerating Protix’s international expansion.
SPRINGDALE, Ark., Oct. 17, 2023 (GLOBE NEWSWIRE) -- 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, 479-713-9890
Investor Contact: Sean Cornett, 479-466-0401
Category: IR
Source: Tyson Foods
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