Finnish biotech company Volare has raised €26 million (US$29 million) to build an industrial-scale insect protein facility in Pori, Finland, and expand its proprietary technology platform. The funding round, announced May 27, supports Volare’s plans to scale production of sustainable protein ingredients for sectors including pet food, aquafeed and poultry feed.
Volare’s system converts food industry byproducts into insect-based protein, oil, and fertilizer using the black soldier fly (Hermetia illucens). The company says this zero-waste, fossil-free process provides a circular solution to food industry waste while addressing Europe’s protein self-sufficiency gap. The European Union currently produces just 34% of its own high-protein concentrates, according to the European Commission.
“Volare was founded on the vision that protein can – and must – be produced in a radically more efficient and sustainable way,” said Tuure Parviainen, co-founder and chief science officer. “Now, we’re entering a new phase: scaling up to full industrial production. Our new facility will bring our proprietary, zero-waste, fossil-free process to life at scale, transforming food industry byproducts into high-quality protein and strengthening Europe’s food resilience.”
Facility designed for energy efficiency and scalability
The upcoming Volare 01 facility is designed to be the most energy-efficient protein production plant globally, targeting a 30% reduction in processing energy and a 50% cut in energy used for hygienization. The plant is expected to produce a protein volume equivalent to 200 million Baltic herrings per year — around 18% of Finland’s commercial fish catch in protein terms. Volare notes that this yield comes with significantly lower emissions than conventional protein sources, including soy and fishmeal.
Volare's products are already used in commercial applications, and the company said demand is growing. The company has a long-term offtake agreement with global aquafeed producer Skretting and is participating in a 150,000 kg insect-fed rainbow trout pilot in Finland with Alltech Fennoaqua, Kalankasvatus Vääräniemi, and Kalavapriikki. The plant is also expected to support regional producers in Norway seeking alternatives to imported fishmeal.
“This is the most efficient way to produce protein, combining low-value raw materials, nature’s own bioreactor, and proprietary ultra-efficient technology – a combination that’s hard to beat,” said Jarna Hyvönen, Volare’s newly appointed CEO. “The result is a process with emissions significantly lower than conventional alternatives, up to 4–8 times lower than soy. This investment marks a major step toward full-scale operations and reinforces Volare’s position at the forefront of the global protein transition.”
Leadership shifts to support next growth phase
Hyvönen, previously chief commercial officer, will take over as CEO in June 2025. Parviainen, who served as CEO since the company’s founding, will now focus on advancing the technology and overseeing the new facility in his new role as chief science officer.
Volare plans to use the new Pori facility as a model for future expansion across Finland and Northern Europe.
