The administrator, UHY Hacker Young, was appointed to run the business and property of ITG Limited this February.
Jason Drew, ITG’s non-executive director, cannot comment on the process at this point as it is a legal process. He said he would provide a more complete picture in due course.
AgriProtein was founded in Johannesburg, South Africa in 2008 to raise larvae of black soldier flies (Hermetia illucens) on organic waste and process them into a sustainable source of feed protein.
In 2017 the company moved its global headquarters to London. It then also announced a strategy to work with construction conglomerate Christof Industries to build 100 new factories around the world.
It attracted millions of investment funds, raising $ 105 million in June 2018 from an undisclosed, publicly traded individual investor.
In October 2020, ITG announced that it was joining an industrial consortium that had received £ 10m from a UK government program to work with Fera, the Association of the Agricultural Industries (AIC) and Zero Waste Scotland on a project that is modeling and presenting The aim is to provide entrepreneurs, governments and agricultural stakeholders with the industrial opportunity for large-scale insect protein and waste disposal in the UK.
In February of this year, it announced that it was in the process of restructuring its flagship in Cape Town.
“Our first development site at Philippi in Cape Town has played an important role since its first iteration in 2011. In recent years, our team in Cape Town has actively contributed to future project designs and tested and refined new devices and processes before they were used at our G-series locations. As we pushed ahead with our US partnership and future G-Series projects, the need for our Philippi line has decreased significantly. This, coupled with the ongoing headwinds from the coronavirus, has resulted in the difficult decision to review the continuation of our South African operations subject to due process. “
