Volare Secures €26M to Build World’s Most Efficient Protein Factory and Advance Its Insect Protein Technology
Pori/Helsinki, FINLAND – May 27 – Finnish biotech company Volare today announces the closing of a €26 million funding round to build Volare 01 – a facility set to become the most efficient protein production plant in the world, and to advance its unique technology. Located in Pori, Finland, the facility will serve as a cornerstone in scaling Volare’s proprietary insect protein technology. This milestone strengthens protein self-sufficiency and accelerates the shift toward sustainable, circular food production in Europe. The round includes a mix of equity, mezzanine and senior loans, and public funding, with support from Maki.vc, Firstminute Capital, Springvest, The Finnish Climate Fund (to be merged with Finnish Industry Investment), Finnvera, Norion Bank, South Ostrobothnia ELY Centre and Business Finland.
The European Union is currently just 34% self-sufficient in protein concentrates (containing more than 30% protein), according to the European Commission, leaving the region heavily dependent on imports. This reliance makes the food system increasingly vulnerable to supply chain disruptions, geopolitical tensions, and price fluctuations. Volare’s scalable, local production model addresses this challenge head-on by converting food industry byproducts into circular, insect-based protein. The approach reduces waste, supports regional agriculture, and strengthens the resilience and self-sufficiency of Europe’s food system.
At the core of Volare’s breakthrough is the black soldier fly (Hermetia illucens), nature’s most efficient bioreactor. These insects naturally convert food industry byproducts into high-value resources with exceptional efficiency. While such byproducts are often incinerated – wasting their potential – Volare upcycles them into premium insect protein, oil, and fertilizer through its proprietary zero-waste, fossil-free process. Leveraging a brownfield location, Volare offers a significantly more capital-efficient setup than greenfield builds. Several key technologies integrated into the process achieve a 30% reduction in processing energy use and aims to cut hygienization energy use by 50%, enabling operational expenditure (OPEX) performance unseen in the insect technology sector. This makes Volare’s system not only the most energy-efficient protein production platform available today but also a circular economy benchmark. Volare’s sustainable ingredients have already gained traction in aquafeed, pet food, and poultry feed, offering a scalable, proven alternative to environmentally intensive ingredients such as fishmeal, meat, and soy.
Volare’s protein has already been validated through real-world partnerships. An offtake agreement with Skretting, a global aquafeed leader, ensures long-term demand from the upcoming facility. In parallel, Volare is piloting insect-fed rainbow trout in Finland via a 150,000 kg collaboration with Alltech Fennoaqua, Kalankasvatus Vääräniemi, and Kalavapriikki. As large-scale production begins, Volare is well-positioned to support Norwegian producers with a high-quality, regionally sourced alternative to imported fishmeal—offering shorter lead times, lower emissions, and improved supply reliability. The Volare 01 plant will produce protein equivalent to the yield of 200 million Baltic herrings annually – approximately 18% of Finland’s total commercial fish catch in protein terms. Designed for scalability, the facility will serve as a platform for future expansion across Finland and Northern Europe.
Designed as a scalable model, the facility paves the way for rapid expansion in Finland and beyond. With offtake agreements secured and products already on the market, Volare is set to enter full-scale operations with proven demand and a clear path to global growth.
As Volare enters the next chapter, the company is realigning leadership roles to support its expanding vision. Co-founder Jarna Hyvönen, formerly Chief Commercial Officer, has been appointed Chief Executive Officer as of June 2025, bringing a strong track record in commercial strategy to lead the company into its next stage of growth. Co-founder Tuure Parviainen, who has led Volare as CEO since its founding, will transition to the role of Chief Science Officer. In this new position, Parviainen will focus on advancing the company’s core technology and overseeing the development of its new industrial facility.
Tuure Parviainen, Chief Science Officer and co-founder of Volare, said: “Volare was founded on the vision that protein can – and must – be produced in a radically more efficient and sustainable way. 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.”
Jarna Hyvönen, CEO of Volare, said: “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. 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.”
For more information, please contact:
Jarna Hyvönen, CEO (as of 1 June 2025), Volare
jarna@volare.fi
