Volare raises close to US$30M to build world’s most efficient protein factory in Finland

FINLAND – Finnish biotech firm Volare has secured €26 million (approximately US$29.7 million) to build what it claims will be the world’s most efficient protein factory. 

The upcoming Volare 01 facility, to be constructed in Pori, is designed to scale up the company’s cutting-edge insect protein technology, positioning Volare at the forefront of Europe’s shift toward circular, low-emission food systems.

The funding round is a blend of equity, mezzanine and senior loans, and public funding, with contributions from Maki.VC, Firstminute Capital, Springvest, The Finnish Climate Fund, Finnvera, Norion Bank, South Ostrobothnia ELY Centre, and Business Finland.

Volare’s innovation arrives at a critical time. The European Union is currently only 34% self-sufficient in protein concentrates, leaving it exposed to global supply disruptions and price instability. 

Volare’s solution transforms food industry byproducts, often incinerated, into high-quality insect protein, oil, and fertiliser, helping Europe reduce waste and strengthen food security.

“Volare was founded on the vision that protein can, and must, be produced in a radically more efficient and sustainable way,” said Tuure Parviainen, Volare’s co-founder and new Chief Science Officer. 

“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.”

Powered by black soldier fly

Central to Volare’s model is the black soldier fly (Hermetia illucens), dubbed nature’s most efficient bioreactor. The insects are uniquely capable of converting organic waste into valuable resources with unmatched efficiency. 

Volare’s proprietary process, designed for zero waste and powered by fossil-free energy, uses 30% less processing energy and aims to reduce hygienization energy use by 50%, giving it one of the lowest operational costs in the sector.

“This is the most efficient way to produce protein,” said Jarna Hyvönen, Volare’s newly appointed CEO. “We’re combining low-value raw materials, nature’s own bioreactor, and ultra-efficient technology. The result is a process with emissions up to 4–8 times lower than soy.”

When operational, Volare 01 will produce a volume of protein equivalent to 200 million Baltic herrings annually, roughly 18% of Finland’s total commercial fish catch in protein terms. The facility is also designed as a blueprint for future expansion across Northern Europe, supporting local agriculture and reducing dependency on imported feed ingredients.

Volare’s protein has already found real-world application in aquafeed, poultry feed, and pet food markets. 

A long-term offtake agreement with global aquafeed leader Skretting confirms demand for the new plant’s output. The company is also piloting insect-fed rainbow trout in Finland in partnership with Alltech Fennoaqua and others.

New leadership for a new chapter

To guide its ambitious expansion, Volare has reorganised its leadership. Hyvönen, formerly Chief Commercial Officer, now leads as CEO. 

Parviainen, the founding CEO, will focus on advancing Volare’s science and industrial development as Chief Science Officer.

With technology validated, partnerships in place, and funding secured, Volare is poised to lead Europe’s protein transition. As Hyvönen summed it up: “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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