Volare Oy. Volare is a VTT-based technology company whose innovative circular economy technology transforms industrial food waste into insect protein powder, oil, and fertilizer material. The protein is sold for use in the feed and pet food industries.
One-third of all food produced is wasted: approximately 1.3 billion tons of food go unused every year. Up to 10% of global greenhouse gas emissions come from food that is produced but not consumed, and utilizing food waste purely for energy production is not the most efficient option. At the same time, the global population is growing, and the demand for protein is expected to double by 2050.
Volare’s vision is to become the world’s leading producer of sustainable and high-quality protein raw materials. The company’s relevant global markets exceed €900 billion. When limited to Europe and the first verified target segments, the market size is over €60 billion.
Over the past year, Volare raised €15 million in new funding to support the construction of its first commercial-scale facility. In addition to the €5.4 million raised through the Springvest round, Company secured equity funding from it’s existing investors, Maki.VC and Firstminute Capital, and received a €7 million investment from the Finnish Climate Fund, which will now be managed by TeSi.
Investment in 2024.