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South Africa’s AgriProtein has raised $17.5 million from investors to recycle discarded food into protein for aquaculture and other livestock businesses. AgriProtein grinds up discarded food and turns it into a paste, which is fed to larvae of the black soldier fly. After they mature, the larvae are separated from the waste and processed into protein meal and oil for animal feed. The company, which opened its first plant earlier this year, says its products compete with meal from wild-caught fish.
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