Hi everyone, here is another update on the project:
The MIPS grant begins on August 1st, this Wednesday. We will be focusing on the biological side of this operation: nutrition of the insect, digestibility of insect meal by the European sea bass, and even some genetics research.
Biotrophics has done a full pivot and will now not be focusing on the actual production of insects, but the intellectual property related to the industry, which essentially turns the company into a biotechnology company operating in a new market (insects in industrial applications) vs. an agricultural operation in an existing market (protein for animal feed). The main focus will still be feed and food applications, but what is exciting is that the company is now open to working with many different types of insects rather than just the yellow mealworm.
Biotrophics’ first design for an automated feeding system is almost complete, which is the company’s first piece of intellectual property hardware. Despite the product market fit pivot, Biotrophics is still looking to design an automated farm for turnkey system solutions and for internal use.
Biotrophics will be selling existing insects to reptile breeders for some small but significant recurring revenue while it is in the process of looking for grants and other funding to do CRISPR and genetics research on various insect species.
Thank you all for your support,