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Ÿnsect plans to expand in US and Mexico

Ÿnsect has signed a memorandum of understanding with Ardent Mills for an industrial facility in the United States and has also signed a joint development agreement with Corporativo Kosmos in Mexico.

These agreements were signed just as Ÿnsect launched an insect farm in Amiens, France, with a height of 36m and a building surface area of 40,000m2. With the arrival of the first insects on site in recent weeks, the livestock's growth phase has already started. The operation of the facility will be rolled out over the next few months, with each site's remaining workshops to be phased into operation.

An agreement with Ardent Mills to accelerate Ÿnsect's implementation in North America

Through this agreement, Ÿnsect affirms its intention to expand its insect-based ingredient production activities in the United States. As part of this expansion, Ÿnsect will explore synergies with Ardent Mills, the supplier of wheat flour in North America, with the aim of starting the construction of a new site in 2023. This agreement follows the acquisition of Jord Producers, the group's first farm on US soil, in Nebraska in March 2022.

"We have many synergies with Ÿnsect in the sense that both our companies are striving to help positively transform the way in which the world is fed. We are excited to explore sustainable food and ingredient production opportunities with Ÿnsect, which has unique expertise in producing insect-based ingredients," said Angie Goldberg, Director of Development at Ardent Mills.

"Ÿnsect wants to help reinvent the global food system with a focus on sustainability. That's why we are very excited about this agreement with Ardent Mills, the leading North American milling company. This marks the beginning of potential exciting collaborations between two key players in the global food industry," adds Antoine Hubert, CEO and co-founder of Ÿnsect.

A first location in Mexico
Ÿnsect and Corporativo Kosmos, a provider of food and general services in Mexico, have also just signed a joint development agreement to establish and operate the first insect farm in Mexico, with construction also aiming to start before the end of 2023. This agreement marks the culmination of a year-long collaboration between these two key players in the global food industry. Mexico is the leading country in the world in terms of human consumption of insects and insect-based proteins. In addition, this insect farm will bring Ÿnsect closer to the United States, by far the largest future market for insect proteins.

"We are particularly pleased with our continued collaboration with Ÿnsect, a company that has developed unique expertise in insect production. The future Mexican production site will allow us to combine the best of our expertise to provide a quality and sustainable product offering," says Jack Landsmanas, President of Corporativo Kosmos.

"The association with Corporativo Kosmos will enable Ÿnsect to accelerate its development by leveraging its leadership in food service provision and its expertise in real estate development," adds Antoine Hubert.

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