Finnish biotech Volare secures €7.1 million and launches 5,000-tonne insect protein plant

Finnish food technology company Volare has raised €7.1 million in fresh funding while opening its first industrial-scale insect protein factory in Pori, Finland. The investment will support preparations for a second production facility and the company’s plans to expand its circular-economy technology across Europe and beyond. The funding was raised through Finnish investment platform Springvest, with participation from existing and new investors, including Maki.vc. <Cite refs={["turn566634search0","turn566634search4"]}/>

Founded in 2021 by Jarna Hyvönen, Tuure Parviainen and Matti Tähtinen, Volare originated from research at VTT Technical Research Centre of Finland. The company develops technology that converts food-industry byproducts into protein, insect oil and fertiliser ingredients, helping recover valuable nutrients that would otherwise go to waste.

A 5,000-tonne facility built for scale

The new facility, named Volare 01, spans 10,000 square metres and is designed to produce up to 5,000 tonnes of insect protein and 2,000 tonnes of insect oil annually. It represents a thousandfold increase in production capacity compared with the company’s demonstration plant.

Instead of constructing a new building from scratch, Volare converted a former newspaper printing facility into its factory. The company says the approach helped it complete the project on schedule and within its €15 million capital expenditure budget.

At the heart of the production process is the black soldier fly. Its larvae consume selected food-industry side streams and convert them into nutrient-rich biomass in approximately one week of active growth. Volare has developed an automated system covering the process from larval rearing to finished ingredients.

The company says its facility requires four to ten times less capital expenditure than comparable insect-protein production operations, around 50% fewer full-time employees and approximately 30% less energy for end-product processing. The plant is designed to run on electricity without fossil fuels and operate with four people per shift. <Cite refs={["turn566634search1","turn566634search2"]}/>

Commercial demand already taking shape

Volare has been selling its protein commercially since 2022. Its ingredients have been used in dog treats developed with Alvar Pet, cat food associated with VAFO Group’s Dagsmark brand, and rainbow trout feed through a collaboration with Alltech Fennoaqua.

The company has also secured offtake agreements covering a significant share of Volare 01’s planned production capacity, including an agreement with Skretting, a major global aquafeed supplier.

Its protein meal delivers more than 90% digestibility, according to the company, making it a potential ingredient for aquaculture, pet food and poultry feed. These markets offer alternatives to conventional protein sources such as fishmeal and soy, although competitive pricing remains important for large-scale adoption. <Cite refs={["turn566634search0","turn566634search5"]}/>

Funding the next stage of expansion

The €7.1 million raise follows an earlier €26 million financing package announced in 2025 to support the development of Volare’s industrial technology and production capacity.

The latest funding will help the company prepare its second factory and pursue partnerships with food-industry businesses that can supply suitable byproducts. Volare’s strategy is to locate future facilities close to these sources, reducing transport requirements while creating regional production networks.

Led by CEO and co-founder Jarna Hyvönen, the company aims to demonstrate that insect-based ingredients can be produced efficiently at industrial scale. Its next challenge will be to ramp up production at Volare 01, meet customer demand and establish a repeatable model for expansion.

As demand for alternative protein grows, Volare is betting that combining automated manufacturing with the reuse of food-industry resources can help build a more resilient and resource-efficient food supply chain.