Peritus Capital completed a successful term loan arrangement for Oberland Agriscience, a company in sustainable protein. The non-dilutive funding is designed to support the Halifax-based company in scaling its production through equipment acquisitions and increased working capital.
“Black soldier fly larvae are extraordinary insects capable of transforming nearly any organic waste into valuable protein at a remarkable rate,” Howard Tang, CEO of Peritus Capital, said. “Oberland’s rigorous, scientific approach positions it at the forefront of the sustainable protein revolution.”
The newly-secured funding is designed to help Oberland scale operations at its 108,000-square-foot Grassy Lake facility.
“Partnering with Peritus Capital to secure this investment is a tremendous win for us and the insect farming industry,” Dr. Greg Wanger, founder and CEO of Oberland Agriscience, said. “The global population continues to soar, and the food waste problem isn’t going away. Insects are natural to many animal diets, especially fish, and thus are an excellent ingredient in these feeds.”
