Category: News & Media

Nasekomo, the Bulgarian biotech company for sustainable proteins and innovative bioconversion solutions, has a new Chief Financial Officer – Svetlin Alexandrov. 

He joins Nasekomo at a key stage in the company’s development. The attraction of Svetlin Alexandrov is intended to provide financial stability to the company in achieving its strategic development goals through an extensive cross-national franchise network. 

Svetlin joins Nasekomo from Danfoss, where he was Managing Partner for Bulgaria and Hungary with responsibility for Finance and Administration, in parallel responsible for the relevant strategies and operations for the Adriatic and Black Sea regions.

As Nasekomo’s Chief Financial Officer, Svetlin will be responsible for financial planning, risk management and legal coordination and will be actively involved in the company’s strategic projects.

“Svetlin’s expertise and leadership come at a time when we are strengthening our position on the market and preparing to introduce additional innovative solutions in 2025. I believe his expertise and skills will contribute to greater efficiency and align our operations with our ambitious growth vision,” said Mark Bolar, Nasekomo co-founder and co-CEO.

Earlier this year, Nasekomo secured €8 million Euro in Series A funding to establish and expand a network of franchis bioconversion factories across Europem, first of which will be in Bulgaria. 

Nasekomo is actively investing in digitgallization and optimization of production processes through machine learning and artificial intelligence and is working on creating digital twins of future bioconversion factories.

“I am very pleased to join the Nasekomo team. The company’s mission, the enthusiasm and the dedication of everyone here not only impresses but also motivates me to higher excellence and results. I believe that with my experience and knowledge I will help to achieve Nasekomo’s ambitious strategic goals in the short and long term,” said Svetlin Alexandrov.

In the first edition of the ESG AWARDS 2024, initiated by the Bulgarian specialized media ESGnews.bg, the winner in Sustainable Strategy category is Nasekomo.

Our company has been recognized for its sustainable development strategy, developed on the basis of the environmentally friendly mechanism of creating valuable products by absorbing low-value raw materials from agriculture through the natural power of insects.

The award was presented to Maria Alexandrova, head of “Innovation projects and sustainability”, by the Chairman of the Board of the Bulgarian Antarctic Union and director of the National Center for Polar Research at the SU professor Pimpirev. He congratulated Nasekomo for the bold vision of extracting valuable protein from insects and defined the achievement of the Bulgarian startup as a success for Bulgaria.

Maria Aleksadnrova emphasized that sustainability is the result of systematic work in a network of partners and thanked the creators of Nasekomo for the bold vision and the persistence with which they support it, the people in the company who are dedicated to the cause of Nasekomo, and the partners, with that the startup is moving forward.

Nasekomo is a technology company that develops innovative solutions for the industrialization of insect farming to extract environmentally friendly and high-quality protein for farm animal feed and fertilizer for organic farming.

The jury in the first ESG AWARDS, organized by ESGnews.bg, was chaired by George Kremlis, honorary director of the European Commission (EC), member of the Board of the European Organization for Public Law, chairman of the Climate and Circular Economy Institute of the association, member of the Environmental and Social Advisory Board of the EBRD and Chair of the Bureau of the Espoo Convention.

The recognition for Nasekomo also comes from experts such as Darinka Georgieva, Executive Director of the Bulgarian Network of the UN Global Compact, Assoc. Dr. Marina Stefanova, Executive Director of ESG Lab and ESG Academy and President of the Association of Sustainability Specialists (ASU), Ivelina Vasileva – Minister of Environment and Water in 2014-2017 and current member of the Board of the Mission for the Protection of Oceans, Seas and Inland Waters at the European Commission, and Valya Yordanova – founder and senior partner at BDO AFA, responsible for ESG company policy. She is a chartered expert accountant since 1992 and a registered auditor, a member of the Institute of Certified Chartered Accountants (IDES) and chairperson of the Audit Expert Council at KPNRO with over 30 years of teaching experience at the Faculty of Economics of Sofia University “St. Kliment Ohridski”.

Delegates of the 61st Session of the Intergovernmental Panel on Climate Change (IPCC), conducted in Sofia, Bulgaria and hosted by the Bulgarian Ministry of Environment and Water, took part in a event of the accompanying programme and visited the Demonstration Center of Nasekomo.

During their visit, the delegates got acquainted with the key characteristics of the insect Hermetia illucens grown for feed protein, among which insect’s extremely short life cycle, non-invasiveness and safety, the ability to process large quantities of bio mass and the huge potential its usage in a circular production. 

IPCC delegates exploring Nasekomo’s Center of Excellence:

The occasion for the visit was the crucial role of the insect industry, illustrated by Nasekomo’s work, in the fight against climate change. Insects such as Hermetia illucens, with the popular name ‘black soldier fly’, can efficiently convert organic by-products into valuable protein, thereby reducing carbon emissions associated with food waste. 

Hosts from Nasekomo were Marco Tejeda, R&D Director, and Maria Alexandrova, Sustainability and Innovation Project Manager, who spoke in more details about the company’s commitment to sustainable practices. “Protein production from insects requires significantly less land, water and feed than traditional livestock farming, making it a more sustainable option. In addition, the circular production model promoted by companies like Nasekomo helps minimize the overall carbon footprint of food production systems,” shared Maria.

The Industrial Director of Nasekomo Kamen Vassilev guided the guests through the technological process of production of the protein. The tour of the Bulgarian demo factory gave an insight into the company’s cutting-edge technologies and solutions aimed not only at optimizing production efficiency, but at developing and expanding the insect processing industry worldwide. “The goal is to reduce dependence on traditional protein sources such as fishmeal and soy, which are often associated with significant negative environmental impacts,” Kamen explained.

Kamen Vasilev, Nasekomo Industrial Director, sharing insights from the insect processing industry:

During the visit, the Nasekomo hosts stressed the importance of innovative, sustainable practices to address global climate challenges and highlighted the significant potential of the insect industry to contribute to a more sustainable future.

Learn more about insects industry impact and why it is a zero-waste circular economy by design

Sofia, Bulgaria | 29 July 2024 – Nasekomo, the leading biotech innovator dedicated to advancing the insect industry, has announced an upgrade to its neonate delivery service for Hermetia illucens (black soldier fly, BSF) newborn larvae. This enhancement introduces a groundbreaking suspension technology, significantly improving the efficiency and reliability of insect-based protein production.

As the insect bioconversion industry evolves, with companies specializing in different stages of the process, Nasekomo has consistently provided high-quality neonate delivery services, thereby supporting the growth of the insect industry. “The complexity and specialized knowledge required for each stage are driving the industry towards a more specialized and segmented approach” explains the co-founder of Nasekomo Marc Bolard. According to him, outsourcing the breeding stage reduces operational costs and allows producers to focus on rearing and processing.

Taking a step further to address the industry’s evolving needs, Nasekomo has successfully developed a scientifically based solution enabling neonates to be placed in a state of ‘paused development’ without the need for temperature reduction during both storage and transport. The achievement enables high efficiency and security in the supply of neonates to protein producers.

The innovation slows the larvae’s metabolism and growth, ensuring they remain in optimal condition until they reach their destination. The method of Nasekomo eliminates the need for low-temperature storage during transit, reducing logistical complexities and ensuring a consistent, stable supply of larvae for producers. Upon arrival, the neonates can be easily activated by initiating the feeding process, with over a 95% recovery rate.

“The extended suspension of the newborn larvae was a testament to the innovative efforts of Nasekomo’s R&D department” says Bartosz Grodzki, Head of the Nasekomo Multiplication Center, underlining that the company is deeply committed to scientific research. “We’ve always prioritized a deep understanding of the biology of our insects, which is fundamental in creating solutions that meet the needs of the growing insect industry. The more we explore the biological intricacies of Hermetia illucens’ life cycle, the more complexity we uncover, but we also see a wealth of new opportunities”, adds Grodzki.

Nasekomo neonates are distinguished by their genetic enhancements, a result of the company’s collaboration with Groupe Grimaud in the Fly Genetic’s selection program. The joint venture leverages advanced genetic selection techniques to produce larvae with superior growth rates, feed conversion efficiency, and resilience. These traits provide a competitive edge, enabling producers to achieve higher yields and more sustainable operations compared to other market players.

Starting in September, Nasekomo will expand its neonate delivery service, including the new suspension technology, through a specialized online portal where requests for newborn larvae in a state of “paused development” can be ordered. “This service not only enhances the efficiency and reliability of the supply chain for insect protein producers but also showcases the unique genetic advantages of our neonates,” says Xavier Marcenac, Nasekomo’s co-founder. “We are committed to setting an industry standard with innovative solutions that will help the industry expand exponentially to meet the needs of the protein market.”

In the beginning of this year, Nasekomo successfully closed a Series A funding round, securing €8 million in growth capital. The investment, led by Invenio Partners, a private equity fund focused on the Southeast European region, along with several high-net-worth individuals, came a month after the company struck a strategic partnership with Siemens.

“Today, it is a call to everyone to contribute to the preservation of the environment.“, shares one of the students.

In April Nasekomo, the only biotechnology company in Eastern Europe for the development of technologies for industrial insect rearing, announced the first edition of its internship program in Bulgaria. Today part of the team are already five students working closely with Nasekomo biologists, engineers and procurement experts.

The program provides an opportunity for young scientists to gain practical experience and realization in the field of scientific research for industrial insect rearing. Trayana, Veronika and Mihail now gain knowledge and hands-on experience as part of the company’s research and development team working on scientific projects observing the implementation in a real-world environment. The projects are related to microbiology, probiotics in insect’s diet, bioconversion and processing, rearing optimization, as well as product development. What two of the interns Mihail and Veronika, veterinary medicine students, share is that this program will help them experience something new, interesting and even “exotic”. “Nasekomo is the thing of the future and I see a lot of modern and innovative components in all aspects of the work”, says Mihail. Veronika shares that the knowledge gained here will help her be a better veterinary doctor by better understanding the role of alternative proteins in animals’ diet on their health and wellbeing.

“I am very interested in biotech and especially in sustainable development, so a company that combines the two right in my hometown sounded like an amazing opportunity with a lot of prospects for international collaborations, which is always a plus for me. I appreciate the fact that I am given responsibilities in the data gathering and analysis part of the process. It is an area that really fascinates me, but so far, I have not had any hands-on experience. The possibility of learning by doing is the best work experience one can get.”, shares Trayana Hristova, who specializes Bioinformatics at Sorbonne University.

Marie-Michèle and Dimitry Pons joines respectively Nasekomo’s procurement and engineering teams. Marie-Michèle comes from Haiti and is currently completing her master’s degree at the Specialized Institute of Francophone Administration and Management in Sofia with a focus in Supply Chain Management. “Today, it is a call to everyone to contribute to the preservation of the environment. Joining a company like Nasekomo will allow me to acquire in-depth knowledge of the professional world in the field of logistics, but also in biotechnology, and thus strengthen my environmental sensitivity. As someone from the Caribbean, this is my first experience working internationally. At the end of this period, I will be able to collaborate in a multicultural environment, valuing our differences to achieve common objectives. In the long term I may even consider the initiation of such a project in my home country.”, says Marie-Michèle. Dimitry comes from France, where he is studying mechanical engineering at Arts et Metiers ParisTech and working as a design engineer. Dimitry learns about Nasekomo as part of a school project that brings him to a three-month adventure in Bulgaria supporting the engineering team of Nasekomo in their efforts in corrosion prevention in the larvae rearing area.

The team of like-minded people, young scientists with a passion for innovation will be joined by two more students in the next months.

The joint project of Nasekomo and Regional Veterinary Station Ruse “Innovative services for emerging bio-based industries: parametrization of key industrial indicators for insect bio-valorization of low-value organic streams” ended successfully in June 2024. The project was supported by the National Innovation Fund through the Executive Agency for Small and Medium Enterprises and lasted 18 months starting in December 2022. The project is unique for Bulgaria and Europe, as it is the first time that scientific data on key indicators in the production cycle of bio-valorization by black soldier fly have been derived and validated both in the laboratory and in a near-production environment. The data will frame the optimal parameters for the startup and cost-effective management of insect bio-valorization factories.

The project was implemented in partnership between Nasekomo EAD and (Regional Veterinary Station Ruse EOOD – a laboratory for testing food, feed, and biological materials with over 87 years of experience in food and feed testing. Both partners recognized the need for reliable, scientifically proven indicators that would enable the definition of the quality of products resulting from the industrial production of insects for the feed industry.

Furthermore, the project enabled both partners to expand their capacities and offer entirely new services to their clients.

RVS Ruse EOOD conducted numerous studies on insect organic fertilizer and initiated the preparation of the necessary documentation to expand its accreditation scope. This will enable this entirely new service – testing insect fertilizer – to be offered for the first time in Bulgaria. In the research part of the project, an innovative method for the determination of amino acids was developed and the physicochemical parameters of various insect products were investigated.

Nasekomo developed a new service module for assessing the technical feasibility and profitability of a bio-valorization factory using insects, which to offers to its clients. The focus is on optimizing input organic raw materials, production process indicators, and the quality of end products. The project data on the nutritional values of end products and physicochemical parameters of insect organic fertilizer provide a valuable contribution to the industry and represent the first successful attempt to derive and validate industrial parameters in the insect industry.

As the industrial insect farming sector addresses the sustainability issues of feed ingredients and the growing demand for protein, this project is a vital step towards offering a sustainable alternative to traditional protein sources like soy and fish meal. By developing innovative protein sources, Europe aims to reduce dependency on soy imports, providing greater security for European farmers and livestock producers.

Green Transition Forum 4.0, held in Sofia from 26 to 28 June, brought together an impressive array of participants, including representatives of the European Commission and Parliament, the Bulgarian President, leading regional politicians and ministers, key figures from EIB, IMF, CEE business professionals, local authorities, academia, NGOs, and media.

Redefining the CEE Region Global Perspective was the theme of the fourth edition of the must-attend event in Bulgaria for anyone committed to a sustainable future.

Maria Aleksandorva, Head of Innovation Projects and Sustainability at Nasekomo, took part in a round table discussion on accelerators and support mechanisms to promote research and innovation, and the role of national and EU funding programmes in enhancing research capacity.

The round table turned to be the most practical discussion on accelerating innovation for green growth featuring a keynote and a Q&A session between the Director-General of DG Research and Innovation of the European Commission, Mr. Marc Lemaitre and some of the most outstanding impact innovators of the local ecosystem among whom Boris Kostadinov – Director of Software Systems, Monika Dimitrova, Executive Director of EurA Sofia and co-founder of VODORALSO, Dragomir Ivanov, Founder and CEO of Hydrogenera, Todor Todoroff, CEO of Bronia AI, Victor Botev, CTO and Co-Founder of Iris.ai, Nikolay Vasev, Chief Operating Officer at Epix AI.

Nasekomo’s expert Maria Alexandrova contributed significantly to the discussion, emphasizing the crucial role that national and EU funding programs play in supporting start-ups and SMEs to deliver the next generation of innovations on the market. She touched upon the need for implementing a systemic approach through inclusive measures and funding across entire value chains and the need for regulatory reforms and administrative relief to see green transition proliferating at scale.

The Bulgarian News Agency (BTA) quoted Maria, highlighting that Nasekomo offers products fostering a circular economy. Maria pointed out the importance of adhering to carbon footprint requirements and agricultural regulations to increase the value of initially low-value products. She explained how Nasekomo transforms agricultural waste into valuable protein under strictly controlled conditions, showcasing the company’s commitment to innovative and sustainable solutions.

We are proud to announce that Xavier Marcenac, co-founder and co-CEO of Nasekomo, has been prominently featured on the cover story of the latest edition of Forbes Bulgaria magazine.

The latest edition delves into the essentials that form the bedrock of successful ventures: personal drive, trusted networks, a clear vision backed by thorough research, meticulous planning, and unwavering belief. And crucially, a commitment to a business with a mission.

We are delighted to see in this context our Co-CEO featured on the cover of Forbes Bulgaria! The magazine highlights Xavier Marcenac’s journey as emblematic of “sustainable business with the potential to address significant challenges.”

This recognition reaffirms our commitment to building a business that not only addresses sustainability challenges but also provides impactful solutions grounded in responsibility and mission.

Forbes Bulgaria online edition is available at https://forbesbulgaria.com/store/

Sofia, Bulgaria – April 5, 2024 – Nasekomo, the only biotechnology company developing technologies for industrial insect breeding in Eastern Europe, announces its first internship program in Bulgaria. The programme provides young scientists with the opportunity to gain practical experience and realisation in the field of industrial insect farming research. Selected interns will work directly with Nasekomo’s experienced research and development team and will have the opportunity to join and contribute to three ongoing research projects and follow their implementation in a real-world environment:

• Investigating the impact of probiotics on the growth process of Hermetia Illucens to enhance growth rates and feeding efficiency.
• Data accumulation for AI training and database development.
• Bioaccumulation of essential molecules – ensuring a balanced diet rich in nutrients for optimal productivity and a robust immune system.

This is a unique opportunity to gain practical experience in the fascinating realm of scientific research on industrial insect farming.

The internship program is open to students pursuing a bachelor’s or master’s degree in biology, entomology, biotechnology, agronomy, microbiology or related fields. Its duration varies from 4 to 30 weeks depending on the students’ availability and the time frame of the project they decide to join.

“At Nasekomo, we blend science and innovation using the power of natural sciences and intelligent technologies. With our internship program, we open our doors to fellow innovators passionate about making a difference,” says Vesela Georgieva, HR Manager at the company.

Applications are open until the end of April 2024. More information on the programme and how to apply is available at https://nasekomo.life/careers/