Hexafly’s ambition is to tackle the fish feed crisis head-on with their innovative method of converting waste products into high-value feeds, fertilizers and bioplastics.Hexafly offers solutions to three broad industries with their newly developed insect-derived products range.
For the Animal and Aquaculture Industry they offer insect oil and protein of the highest quality. For the highly valuable Chitin Market they can supply the much sought after biopolymer. They have something in store for the Plant Nutrition Industry too; a multi-effective frass fertilizer.
Why insects, why now?
The main limiting factor faced by the aquaculture industry is a lack of suitable raw materials for use as feed. Due to declining wild fish stocks and stricter quotas, the Fish Meal Industry is expected to steadily decline over the next ten years, as it has already begun to do so. Because of this, the Fish Feed Industry is seeking innovative, sustainable feed sources like those provided by Hexafly.
With their feet in these fast-moving booming sectors, Hexafly’s plan is to be a part of the long-term food chain solution in Ireland, Europe and the World.
An impressive €1.1 million / $1.3 million USD has been raised by the biotech start-up in a Pre-Series A Round led by Cedas Foundation, SOSV, Enterprise Ireland, Yield Lab Accelerator and HBAN.
Hexafly has participated in SOSV’s Rebel Bio Programme (2016) as well as the Yield Lab AgTech Accelerator Programme (2017). The company have previously received support from Meath Local Enterprise Office.
Hexafly operates under the guidelines and supervision of the Department of Agriculture and is fully compliant with the EU Regulation No. 999/2001.
The young start-up has received multiple awards including:
- Winner of the Innovation Award – National Enterprise Awards – 2017
- Winner of Demo Day – World AgTech Innovation Summit – 2017
- Overall National Winner of Best New Idea – Ireland’s Best Young Entrepreneur Competition – 2016
- Finalist – Global Nutreco FeedTech Challenge – 2017
- Seal of Excellence – part of Horizon 2020, delivered by the European Commission – 2017
- Best New Business – Meath Business and Tourism Awards – 2016
Hexafly’s first commercial plant is officially being opened in Ashbourne, Co. Meath in early April 2018 having overcome the many hurdles of large-scale insect production successfully through their pilot plant in Kells.
Through the up-cycle of low-value vegetative waste, Hexafly creates multiple high-value sustainable commodities whilst offering an environmentally friendly cleantech solution to the many serious problems facing the Aquafeed, Animal Feed and Fertilizer Markets.
With the success of their first commercial plant in Ashbourne, Hexafly have set their sights on further expansion and hope to pursue a Series A round in late 2018 with a view to build a much larger production facility in the Leinster area. They then hope to begin exploring opportunities in Europe, the U.S. and Asia.
Hexafly endeavour to create up to 50 jobs in Ireland over the next few years.
Applications are also open for the RebelBio accelerator’s second cohort in 2018 also if companies or prospective entrepreneurs would like to avail of funding, mentorship & support for early-stage life sciences.