Volare Funding News- Finnish BioTech Volare Secures €26 Million Funding

Volare transforms food industry side streams into sustainable insect protein, oil, and fertilisers using black soldier flies (Hermetia illucens). These insects efficiently convert byproducts—often burned as waste—into valuable resources through a zero-waste, fossil-free process.

The company’s ingredients are already being used in aquafeed, pet food, and poultry feed, offering a sustainable alternative to fishmeal, soy, and meat. Volare’s approach cuts waste, supports local agriculture, and boosts Europe’s food system resilience.

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Volare’s insect protein is already proven through real-world partnerships. A long-term supply deal with global aquafeed company Skretting secures steady demand for its upcoming production plant.

Volare is also testing insect-fed rainbow trout in Finland in a 150,000 kg pilot with Alltech Fennoaqua, Kalankasvatus Vääräniemi, and Kalavapriikki.

As it ramps up production, Volare aims to support Norwegian producers with a local, high-quality alternative to imported fishmeal—cutting emissions, reducing delivery times, and improving supply stability.

By using an existing site (brownfield), Volare keeps costs lower than starting from scratch (greenfield). Its technology cuts processing energy use by 30% and aims to reduce hygienisation energy use by 50%, making it one of the most energy-efficient protein systems in the insect industry. It also sets a new standard for circular economy practices.

Construction of Volare’s first industrial plant, Volare 01, will begin in 2025 in Finland. The plant will produce as much protein as 200 million Baltic herrings—equal to 18% of Finland’s total commercial fish catch in protein terms.

The €26M funding round includes equity, mezzanine and senior loans, and public funding. Backers include Maki.vc, Firstminute Capital, Springvest, The Finnish Climate Fund, Finnvera, Norion Bank, and others.

Tuure Parviainen, Volare’s Chief Science Officer and co-founder, said the company was founded on a clear vision: that protein must be made in a far 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.”

Jarna Hyvönen, CEO of Volare, says the company’s mix of cheap raw materials, natural insects, and unique technology is the best way to produce protein efficiently.

“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.”

About Volare

Founded in 2021, Volare a Nordic deeptech company changing the food industry. Volare use the black soldier fly and special technology to make sustainable protein, oil, and fertilizer. There products can replace less sustainable options like soy, fish meal, and palm kernel oil. They are used in aquafeed, pet food, chemicals, and fertilizer industries.