Finnish biotech company Volare has closed a €26 million funding round to build protein production plant, Volare 01. Located in Pori, Finland, the plant will serve as a cornerstone in scaling Volare’s proprietary insect protein technology, aimed at advancing sustainable aquaculture.
The round included 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, and other financial institutions.
At the core of Volare’s breakthrough is the black soldier fly (Hermetia illucens). These insects naturally convert food industry by-products into high-value resources with exceptional efficiency. Volare upcycles these by-products into premium insect protein, oil and fertiliser.
Volare’s technology is designed for maximum resource efficiency: it operates without fossil fuels, produces zero wastewater, and results in a substantially lower carbon footprint than conventional protein sources.
By replacing wild-caught fish and cutting CO₂ emissions, Volare’s ingredients play a direct role in decarbonising aquaculture and advancing sustainable global food production.
Developed in close collaboration with leading aquaculture feed experts, Volare’s insect protein has been optimised from the ground up and is already proven in commercial use.
An offtake agreement with Skretting, a global aquafeed leader, ensures long-term demand from the upcoming facility.
Volare is also currently piloting insect-fed rainbow trout in Finland through a 150,000 kg collaboration with Alltech Fennoaqua, a Finnish fish farmer, and a distributor.
According to the company, as large-scale production begins, it 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.
In addition to aquafeeds, Volare is also serving the pet food industry.
The Volare 01 plant will produce 5,000 tonnes of protein – equivalent to the yield of 200 million Baltic herrings annually, approximately 18% of Finland’s total commercial fish catch in protein terms.
Meanwhile, the company has confirmed Co-founder Jarna Hyvönen, formerly Chief Commercial Officer, has been appointed Chief Executive Officer as of June 2025, while fellow 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.
“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,” Parviainen said.
Hyvönen added: “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.”
