Sumitomo Corporation makes investment in Brazilian insect protein production and biotechnology company Cyns to Support Next Generation Sustainable Feed Production [Yahoo! Finance]
SUMITOMO CORP S/ADR (SSUMY)
NASDAQ:AMEX Investor Relations:
sumitomocorp.co.jp/en/ir
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Source: Yahoo! Finance
Seed round for Cyns, a biotechnology company located in Sao Paulo, Brazil , to unlock the next chapter of black soldier fly (BSF) farming in Latin America . Lambarin Investimentos, a Brazilian family office and wealth management firm, has also joined the Seed Funding Round together with Sumitomo. Cyns is the leading biotechnology company specialized in sustainable insect-based animal nutrition in South America , having been the first company to obtain regulatory approval to produce and market black soldier fly-based ingredients for animal nutrition in Brazil. The company is located in Piracicaba, Sao Paulo , the most prominent agtech valley in Brazil , and has developed a unique, cost-competitive horizontal BSF rearing system that delivers high bioconversion rates with minimum HVAC requirements by leveraging Brazil's naturally-suitable conditions for BSF rearing and large availability of sustainable food byproduct streams which are used as the source of nutrition for BSF larvae. C
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