Ÿnsect, the world leader in insect production, signs a Memorandum of Understanding (MOU) with the LOTTE R&D centre, a Korean leader in the Tech industry. The MOU was signed by Guillaume Daoulas, Ÿnsect Food & Plant Sales Director, in the presence of Cho Juhyeon, Korean Vice-Minister for SMEs and Startups, at the “France – Korea” event organized by French Tech and the French Embassy in Korea on April 26th.
The agreement includes conducting joint research to develop insect-based food products, working together to increase knowledge of edible insects’ health claims, and conducting and sharing surveys on “insects in human food” among consumers in Europe and South Korea. This partnership will enable Ÿnsect to accelerate its development in human food and expand its activity in Asia.
The MOU between Ÿnsect and the LOTTE R&D centre represents a significant milestone in the development of insect-based food products and highlights the importance of cooperation between France and Korea in the Tech industry.
“The signing of this MOU with the LOTTE R&D center, the Korean leader, is a major step forward in Ynsect’s development. We aim to accelerate our presence in high value-added markets, with natural, healthy and sustainable ingredients. Through LOTTE R&D center, we now benefit from the support of a key player to better understand the different markets in which we are establishing ourselves across the Asian continent and thus be able to meet the demand for local proteins,” says Guillaume Daoulas, Ÿnsect Food & Plant Sales Director.
Ÿnsect aims to accelerate its presence in high value-added markets with natural, healthy, and sustainable ingredients – this partnership is a clear step in this direction. Lee Gyeong Hweon, president at the LOTTE R&D centre, believes that insect proteins are a key option to meet the food and climate challenges of our time, and Asia is already keen on insect-based foods for human nutrition.
In a 2011 report, the FAO highlighted that to feed the planet by 2050 we will have to produce 70% more ingredients with only 5% of available land. The FAO already mentioned insects as a solution. Ten years later, with its industrial know-how and scientific knowledge, Ÿnsect began developing the human food market.
Insects are an environmentally sustainable and healthy protein source that can meet the world’s food and climate challenges. Studies conducted by Maastricht University show that mealworm proteins are as beneficial as milk proteins in terms of digestion, nutrition, absorption, and muscle production. Additionally, the protein content of insects is naturally high, requires 30 times less land, emits 40 times fewer CO2 emissions than beef, and uses 40 times less water than pork.
Ÿnsect is the world’s leading producer of natural insect proteins and fertilizers. Founded in 2011 in Paris, France, by scientists and environmental activists, the Next40 and B Corp-certified company processes insects into high-end, high-value ingredients for pets, plants and humans. From its purpose-built, state-of-the-art farms, Ÿnsect offers a long-term organic and sustainable solution. Ÿnsect uses pioneering proprietary technology protected by more than 380 patents to produce mealworms in climate and biodiversity-friendly vertical farms. Ÿnsect operates several production sites, and is currently building a new site, the world’s largest vertical farm in Amiens, France. The company has raised more than $550 million from major global investment funds, banks and public institutions and exports its products worldwide.
About LOTTE R&D center
Lotte Group is a South Korean diversified company operating in a wide range of industries, including retail, chemicals, hospitality and alcoholic beverages. Founded in 1948, Lotte Group is one of the largest conglomerates in South Korea and employs over 110,000 people worldwide. Lotte also has a strong market presence in Asia, with operations in several countries such as China, Japan and Vietnam. Furthermore, Lotte also owns several popular brands such as Lotte Confectionery and Lotte Chilsung Beverage.
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