A NEW FRONTIER IN INSECTS

A NEW FRONTIER IN INSECTS: Cambridge-based Oreka Solutions Inc. raises $1.8M and receives approval to sell its breakthrough insect-based feed ingredients in Canada
Cambridge, ON, May 2019— Oreka Solutions Inc. (OrekaSolutions.ca), an insect ag-tech firm that delivers immune advantage for more productive agriculture, announced that following successful trials in Canada and the US, the company has raised $1.8M in funding and received approval from the Canadian Food Inspection Agency to sell its feed ingredient products to the aquaculture and poultry markets.
From its facility in Cambridge, Ontario, the firm creates feed ingredients from insects that have been shown to significantly reduce mortality and increase growth rates in livestock.

“We have invested five years of R&D to develop what we believe are the only insect-based feed ingredients that can help farmers of all livestock improve the health of their animals,” said Jon Duschinsky, CEO and Co-founder of Oreka Solutions. “By harnessing the power of insects, not just using them as protein replacements, it is possible to make agriculture up to 30 per cent more efficient. All that was needed was the technology and the model to scale it, both of which now exist. With this funding injection and CFIA approval we are ready to move to the next phase of our ambitious growth plan.”

Funding was provided by Toronto-based agrifood tech investment firm Umai Global, the Grober Group, a consortium of angel groups, and the Canadian Government.

“Oreka Solutions has developed a highly scalable business model, based on significant Intellectual Property (IP), that opens up a number of new, high-value commercial applications for insects,” said San Eng, Founder of Umai. “We have aligned with the Oreka team to help write a new chapter in the future of farming.”

In addition to its animal feed products, Oreka Solutions Inc. has pioneered a zero-waste process that produces two soil amendment products, one liquid and one solid, that both support the microbiome of the soil and are in strong demand in Canada’s growing cannabis industry.

About Oreka Solutions Inc.
Oreka Solutions Inc. is an insect Ag-tech firm that delivers Immune Advantage to make agriculture more productive. The firm breeds and rear its Black Soldier Flies to optimize their essential nutrients and healthy fats, and then captures this goodness to make a series of proprietary feed ingredients for poultry, fish, swine & ruminants. With only small amounts of these ingredients, livestock have been shown to achieve better health outcomes, grow faster and require less medication. The firm’s proprietary technology is completely sustainable, produces zero waste, offers a significant competitive advantage for farmers while giving consumers what they want – high quality, healthy and truly sustainable food on their plates.

About Umai
Umai is a Toronto-based firm investing in and advising entrepreneurs in the agrifood innovation sectors. We believe the greatest actionable challenge facing humanity and our planet today is producing scalable, sustainable foods to feed upwards of 10 billion people by 2050.  The only solution is to accelerate technology innovations in agrifoods. Our team consists of “investorpreneurs” – as investors having invested US$500m+ in high-potential ventures and as entrepreneurs having led and raised $100m+ in funds across North American and Asia, collectively, creating thousands of jobs in the communities we have serviced.

To reach Oreka, contact:
Jon Duschinsky, CEO, Oreka Solutions
+1 647 295 2993
jond@orekasolutions.ca

MEDIA CONTACT: For additional information, please contact

Sincerely,
Saskia Brussaard, President
Crave Consulting + Communications
Food, Agriculture, Ag-Tech, Food-Tech, Edible Cannabis, Health, Nutrition, Sustainability, Food Literacy Advocacy, Cookbooks

Home


905-634-2430 (office)
media@cravepr.com

Follow us:
T. @CravePR
I. Canadian_Cravings

Leave a Comment





This site uses Akismet to reduce spam. Learn how your comment data is processed.