Sumitomo Corporation signed an MoU agreement with Nutrition Technologies with a portfolio valued at more than US$100mn
The MoU allows Sumitomo to distribute Nutrition Technologies products into the Japanese market for use in a range of sectors, including pet food and aquafeed products.
Sumitomo is an existing investor in Nutrition Technologies and is strategically aligned with the company’s mission of sustainably feeding the global population through a circular economy. The corporation recognises the advantage of Nutrition Technologies’ low-energy, tropical production technology compared to other manufacturers of insect-based products.
With the growing demand for food and increasing pressure on protein supply, Sumitomo Corporation sees the need for more sustainable products and the opportunity presented by Nutrition Technologies products, which are made from Black Soldier Fly Larvae (BSFL). This is an exciting opportunity for Nutrition Technologies to extend their commercial reach in Japan, thanks to Sumitomo Corporation’s extensive distribution network and aligned companies within their group.
This extensive market network and in-depth consumer insight will facilitate the Japanese market to access sustainably manufactured insect-based products, creating a more sustainable and equitable food system in the process.
“This distribution agreement not only secures supply for our existing customers and the strength of demand we have for future production but emphasises our commitment to the success of Nutrition Technologies and underlines the strategic alignment between the two companies. We envisage a bright future where the two businesses can grow together,” said Masahito Uno, general manager, Life Sciences Division, Sumitomo Corporation.
The corporation also recognises that there are many other opportunities outside of the feed sector, such as in sustainable cosmetics and Sustainable Aviation Fuel (SAF), and is already creating linkages with key partners to develop these products, which are expected to come online in the coming years. Background Global food security has steadily declined for the past few decades and has been significantly tested in recent years through extreme weather events and war.
Population growth has fuelled the current 1.2 billion tonnes demand for animal feed ingredients, which has severe environmental consequences both for land and sea. There is a growing protein deficit, with supplies of traditional proteins for animal feed, such as fishmeal and soybean meal, stagnating due to overfishing and deforestation. Meanwhile, organic matter and food waste in landfills are significant contributors to greenhouse gas emissions, and the overuse of chemical fertilisers severely reduces the productivity and resilience of crucial agricultural soil.
Using a combination of beneficial microbes and BSFL using a low-energy, zero-waste production model to grow their insects, the larvae are reared on clean and traceable agro-industrial by-products. As a tropical species, the BSFLe grow quickly and efficiently in the ambient Malaysian climate, meaning that very little energy is required to grow or breed the flies.
To read more about how insect feed is advancing the sustainable feed market in aquaculture, click here.
