Volare, a Helsinki-based biotech company, has raised €26 million in a funding round to construct its first industrial-scale facility, Volare 01, in Pori, Finland. The round combines equity, mezzanine and senior loans, and public funding, with participation from Maki.vc, Firstminute Capital, Springvest, the Finnish Climate Fund (soon merging with Finnish Industry Investment), Finnvera, and Norion Bank. Volare develops insect-based protein, oil, and fertilizer by upcycling food industry byproducts using black soldier flies. The funding will be used to scale its proprietary processing technology, which aims to reduce energy consumption and support local protein production. With confirmed offtake agreements, the facility is intended to serve as a model for regional expansion and to contribute to Europe’s protein self-sufficiency.
The European Union is currently just 34% self-sufficient in protein concentrates (containing more than 30% protein), according to the European Commission, leaving the region heavily dependent on imports. This reliance makes the food system increasingly vulnerable to supply chain disruptions, geopolitical tensions, and price fluctuations. Volare’s scalable, local production model addresses this challenge head-on by converting food industry byproducts into circular, insect-based protein. The approach reduces waste, supports regional agriculture, and strengthens the resilience and self-sufficiency of Europe’s food system.
At the core of Volare’s breakthrough is the black soldier fly (Hermetia illucens), nature’s most efficient bioreactor. These insects naturally convert food industry byproducts into high-value resources with exceptional efficiency. While such byproducts are often incinerated – wasting their potential – Volare upcycles them into premium insect protein, oil, and fertilizer through its proprietary zero-waste, fossil-free process. Leveraging a brownfield location, Volare offers a significantly more capital-efficient setup than greenfield builds.
Several key technologies integrated into the process achieve a 30% reduction in processing energy use and aims to cut hygienization energy use by 50%, enabling operational expenditure (OPEX) performance unseen in the insect technology sector. This makes Volare’s system not only the most energy-efficient protein production platform available today but also a circular economy benchmark. Volare’s sustainable ingredients have already gained traction in aquafeed, pet food, and poultry feed, offering a scalable, proven alternative to environmentally intensive ingredients such as fishmeal, meat, and soy.
Volare’s protein has already been validated through real-world partnerships. An offtake agreement with Skretting, a global aquafeed leader, ensures long-term demand from the upcoming facility. In parallel, Volare is piloting insect-fed rainbow trout in Finland via a 150,000 kg collaboration with Alltech Fennoaqua, Kalankasvatus Vääräniemi, and Kalavapriikki.
As large-scale production begins, Volare 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. The Volare 01 plant will produce protein equivalent to the yield of 200 million Baltic herrings annually – approximately 18% of Finland’s total commercial fish catch in protein terms. Designed for scalability, the facility will serve as a platform for future expansion across Finland and Northern Europe.
The forthcoming Volare 01 facility will produce protein equivalent to the annual yield from 200 million Baltic herrings, approximately 18% of Finland’s total commercial fish catch in protein. Designed as a scalable model, the facility paves the way for rapid expansion in Finland and beyond. With offtake agreements secured and products already on the market, Volare is set to enter full-scale operations with proven demand and a clear path to global growth.
Tuure Parviainen, Chief Science Officer and co-founder of Volare, said: “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.”
As Volare enters the next chapter, the company is realigning leadership roles to support its expanding vision. Co-founder Jarna Hyvönen, formerly Chief Commercial Officer, has been appointed Chief Executive Officer as of June 2025, bringing a strong track record in commercial strategy to lead the company into its next stage of growth. 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.
Jarna Hyvönen, CEO of Volare, said: “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.”
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Read the orginal article: https://arcticstartup.com/volare-raises-e26m/
