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Maughan Capital announces investment in The Bug Factory

LONDON, Jan. 11, 2023 /PRNewswire/ — Maughan Capital, the private investment company of British investor and philanthropist Nick Maughan, has announced its investment in The Bug Factory, the trading name of Beobia Ltd.

The Bug Factory eco pods, which Maughan Capital has invested into in order to support the cultivation of mealworms as a sustainable alternative to soy.

The Bug Factory eco pods, which Maughan Capital has invested into in order to support the cultivation of mealworms as a sustainable alternative to soy.

The Bug Factory is a multi award-winning start-up founded by entrepreneur Tom Constant, which designs and builds eco-growing pods for the cultivation of mealworm. These pods, which are manufactured from recycled British fridge and freezers, empower consumers to recycle their food waste and harness insect power in order to convert it into a sustainable source of plant fertilizer and animal food.

However, in the long term, the mealworm sector will scale to meet demand on a global agricultural level. Mealworm requires minimal resources to produce and has a much smaller environmental impact than soy, which is currently commonly used as animal feed. Mealworms are nutritious and cost-effective, and already successfully used as feed for pigs, chickens, and other animals with proven health benefits.

Nick Maughan, founder of Maughan Capital, said: ‘Maughan Capital is dedicated to supporting initiatives that align with our ESG values and wider commitment to tackling climate change. This is why we’re so excited to be investing in The Bug Factory.

Tom is a visionary, and his innovative approach to sustainable animal feed production through The Bug Factory is paving the way for a more sustainable future. For example, if the UK were to replace commercial animal feed soy with mealworm for the feeding of poultry and pigs, it would save around 2.4 million tons of CO2 emissions annually. This is equivalent to the annual emissions of around 400,000 cars.

We’re looking forward to supporting Tom and The Bug Factory as they continue to innovate and change the future of animal feed and agriculture.’

Tom Constant, CEO and Founder of The Bug Factory has said: ‘Maughan Capital’s commitment to environmental causes is clear, and we’re excited that they have chosen to support our mission at The Bug Factory with this latest investment.

Nick and his team have been a pleasure to work with, and we look forward to engaging further as we continue to develop The Bug Factory for the future.’

About Maughan Capital:

Maughan Capital manages the investment portfolio of Nick Maughan, a British businessman, ESG investor and philanthropist. Nick has invested in a wide range of companies and start-ups, mostly with a basis in data analysis, algorithmic modelling and emerging technologies. His innovations in risk and analytics have a wide application to theory and strategy in the realms of financial derivatives trading and technology, financial modelling, actuarial science, predictive analytics technology and big data.

A proponent of impact investing, Nick is involved in a number of projects designed to generate beneficial social or environmental effects, in addition to financial gains. He has argued for the need to improve the effectiveness and credibility of impact investing by establishing more rigorous systems for measuring and quantifying a company’s “impact”. Recent investments include funding a space satellite video feed company for the purpose of land and wildlife conservation monitoring and management, a carbon exchange and a sports-tech company developing products to protect those that engage in combat sports from brain injury.

About The Bug Factory:

The Bug Factory manufactures eco-growing pods, designed for people’s homes. The pods harness insect power to recycle food waste and convert it into pet food and plant fertilizer. They are manufactured from recycled fridges and freezers and aim to empower consumers to create their own affordable, sustainable and continuous source of animal feed while recycling their uneaten fruits and vegetables.

Founded in 2020, The Bug Factory was born after British entrepreneur Thomas Constant received a School Design Award at University for the initial concept in 2018. One year later, the company successfully launched on Kickstarter receiving 420% funding. The past two years have been spent conducting extensive research through customer data, global trends, and retailer interest and market validation. Officially launching December 2022, The Bug Factory now distributers in the UK, EU and USA.

Over the next few years, The Bug Factory aims to remove over 125,000,000 kg of CO2 and help hit the UN 2030 Sustainable Development Goals. Specifically addressing: Goal 2 ‘zero hunger’, Goal 12 ‘responsible consumption and production and Goal 13 ‘climate change’.

The Bug Factory | Grow Live Mealworms | lizards, chicken feed

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