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Confirmed Amount = 39.240,73 €
Reserved Amount = 50 €

39.290,73 €

125.000 €

16 days left to close


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Santarém, PT




4 years

a year




Insects that turn waste into protein and fertilizer.


EntoGreen, an Ingredient Odyssey (IO) brand focused on the circular economy in the agri-food sector, has reached an investment that will allow it to build the first industrial unit for bioconversion with insects. The Santarém-based company will use insects to obtain protein for animal feed, non-chemical fertilisers and insect oil from plant waste. In addition, EntoGreen will also invest in building its own R&D facility in the Industrial Zone of that same region.

For this purpose, IO has raised a combination of funds, equity and debt, amounting to €10.36m. To implement the project, the company will continue to raise debt, which includes the loan it will take out through GoParity.

The new unit, already under construction and scheduled to start production in October 2022, is innovative in the way it uses insects as a bioconversion tool. The EntoGreen technology uses the Black Soldier Fly as a biodigester and this new unit will annually convert 36,000 tons of vegetable by-products into 2,500 tons of protein, 500 tons of insect oil for animal feed and 7,000 tons of organic fertilizer for the soils, giving back to plants and animals nutrients that today are wasted.

The investment, now won, will also support the company in its overall R&D plan which encompasses an estimated investment of €5 million between 2021 and 2026 for new research projects that focus on creating new solutions for environmental sustainability.

The Impact


Reuse of waste and promotion of circularity: EntoGreen will use 36,000 tonnes of vegetable waste from agri-food processing industries annually to produce 7,000 tonnes of organic fertilizer, 2.5,000 tonnes of protein concentrate, and 500 tonnes of insect food oil. The by-products of the agro-food industry and their waste are a logistical, environmental and economic problem for companies in the industry, and EntoGreen's solution enables a sustainable reuse of the waste and its nutrients in a circular economy perspective.

Environmentally responsible process: the process of obtaining EntoGreen products from agri-food waste is based on biotechnology and consists of a clean process that does not generate waste and does not emit fumes or odours.

Contribution to more sustainable animal feed: protein concentrate and insect oil are products used in animal feed (so far in aquaculture and pet food), which allows the feed to be sustainable, due to the process of obtaining the products with a much lower carbon footprint than traditional solutions for obtaining protein.

Contribution to sustainable plant fertilisation: the organic fertiliser produced by EntoGreen, due to its process of obtaining it from waste and using insects, is biological and can be used in productions with this certification. This process presents a much smaller carbon footprint than the solutions for obtaining traditional fertilisers. It also contributes to the reduction of the use of chemical fertilisers that are potentially harmful to human health.

Job creation: with the expansion of the R&D unit and the implementation of the first industrial unit, EntoGreen expects to create 66 jobs. In total, 40% of the company's human resources will be highly qualified.


Promotion of innovation and research: the investment in research in the development of innovative solutions for cleaner and more sustainable agriculture and animal feed. The association with its industrial units also allows for the transfer of knowledge and technology in the future.

Promoting the innovative sector economy: EntoGreen's R&D unit has the potential to leverage collaboration with other companies in the insect sector, which is nascent and has great potential for innovation and valorisation. These collaborative relationships can highlight Portugal in the industry of using insects as a scalable sustainable solution.

Impact Indicators

Sustainable Development Goals

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Financial viability

The company expects to achieve an annual turnover of more than 10 million euros from the sale of these products. However, only in 2023 will the company show positive results. The funds for the repayment of the loan will initially come from the company's existing own means, grants to be received (€2.6 million of already approved incentives yet to be received) and a long-term credit line of €0.75 million, and, after the start-up of the operation, from the means it will release. Thus, the loan through GoParity represents only a small fraction of the company's financial structure.

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The Promoter

About Ingredient Odyssey SA

Ingredient Odyssey, SA (IO) was founded on March 4, 2014 by Daniel Murta, who is the CEO and head of R&D at IO. It was during his PhD that he saw in insects the opportunity to contribute to sustainability in food production, developing protein alternatives and new nutritional sources for human and animal food, based on insects.  

One of the first partnerships emerged with the National Institute for Agricultural and Veterinary Research (INIAV) in 2013, a core partner of the EntoGreen project.

The first project submitted jointly with the institute focused on alternative protein sources for animal feed (Genetics and nutrition and alternative feed resources for terrestrial livestock production, SFS-01a-2014) and was submitted in early 2014 under a Horizon 2020 application led by the University of Milan and involving several entities from different countries, inside and outside the European Community.

Currently, IO and INIAV continue with the development of the project having simultaneously investigated the creation of solutions for plant by-products, bringing the circular economy to the agri-food sector.

In September 2015, Rui Nunes joined the corporate structure of Ingredient Odyssey, as he also worked with insects.

To this day EntoGreen continues to develop work in the area and has started the construction of a bioindustrial unit in which it will be possible to convert 36,000 tonnes of plant by-products into thousands of tonnes of final products.

However, the role of R&D in the history of IO does not end with the implementation of the first bioindustrial unit the company intends to continue researching and developing new projects with innovative biotechnologies, hoping to leave its mark on environmental sustainability in Portugal and the world.

Daniel Murta (Founder and CEO)

Rui Nunes (Founder and COO)

Diogo Palha (CFO)

Gonçalo da Cunha Ferreira (TTO)

Maria Ana Machado (Innovation Manager)

Rui Miguel (Director of Industrial Projects)

Teresa Ribeiro (Director of Quality and Innovation)

Business Model

EntoGreen's Business Model consists in the sustainable industrial production of animal protein and organic fertilizer from the use of vegetable by-products that today represent a problem for the agri-food industries, through a biotechnological process, whose protagonist is the black soldier fly.

EntoGreen's environmental commitment consists in bringing the circular economy to the agri-food sector and is based on offering a complete range of 100% Ecological and Sustainable Production products, in the search for a fair balance between Man and Nature.

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