Thai Union Group PCL, Bangkok, announced plans to invest in Flying Spark Ltd., an Israel-based alternative protein startup.
The announcement includes both a strategic partnership and investment to promote larval insect protein as a highly sustainable, highly nutritious contender in the alternative protein market. This collaboration joins Thai Union’s production capabilities and global reach with Flying Spark’s innovative technology in creating a sustainable protein offering.
This transaction will enable Flying Spark to move ahead with its insect growing and processing capabilities in Thailand and dedicate efforts toward cost reduction and process improvements.
“We are excited to collaborate with this leading multinational seafood company,” says Eran Gronich, founder and CEO of Flying Spark. “Thai Union and Flying Spark see eye-to-eye on the need for future alternative protein products to offer high-value protein while minimizing the ecological footprint. This marks a significant step forward in bringing insect protein into the food industry mainstream.”
“Over the last years, Thai Union has made significant investments to become a leader in seafood innovation and sustainability,” says Thiraphong Chansiri, chief executive officer of Thai Union. “As we move into the coming decade, we will increasingly cooperate with innovative start-ups in strategically interesting areas. This will complement our own activities, as we are broadening our business beyond our traditional core.”