US EditionDistressed insect ag firm Ÿnsect secures bridge loan, receives offer for pilot plant
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Distressed insect ag firm Ÿnsect secures bridge loan, receives offer for pilot plant
French insect ag pioneer Ÿnsect has received an offer from an undisclosed party for its pilot plant in Dole and secured €10m in bridge funding from existing investors allowing it to remain operational while it seeks more funding. CEO Shankar Krishnamoorthy has been replaced by Emmanuel Pinto, a partner at French turnaround advisory D&I. The firm, which entered insolvency proceedings in February after failing to secure financing under a safeguard…
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