The funds will be used to install innovative drying technology and expand the laboratory at the company’s production facility production faculty in Delta, British Columbia.

"The deal represents EBRD’s first transaction in the region’s agribusiness industry."

The expansion is intended to meet demand for the company’s plant extract products from personal care, food supplement and food manufacturing companies.

The investment is repayable by Mazza Innovation.

Bühler and Protix have partnered to form the Bühler Insect Technology Solutions joint venture (JV), which aims to develop industrial insect rearing and processing solutions to provide protein for food and animal feed segments.

Protix is an insect-based protein producer, wheras Bühler provides solutions for the food industry.

Greece-based flour milling company Loulis Mills has received approval for €10m ($10.68m) in long-term financing from the European Bank for Reconstruction and Development (EBRD).

The company intends to use the funds to supplement its working capital, and partly refinance its existing and maturing debts.

The deal represents EBRD’s first transaction in the region’s agribusiness industry.