Munching Maggots Help Singapore Startup Secure Lucrative Biomaterial

The protein-rich maggots are being bred to extract biomaterials that can be used in pharmaceuticals and electronics. (Reuters)
The protein-rich maggots are being bred to extract biomaterials that can be used in pharmaceuticals and electronics. (Reuters)
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Munching Maggots Help Singapore Startup Secure Lucrative Biomaterial

The protein-rich maggots are being bred to extract biomaterials that can be used in pharmaceuticals and electronics. (Reuters)
The protein-rich maggots are being bred to extract biomaterials that can be used in pharmaceuticals and electronics. (Reuters)

In a quiet, mainly residential district of Singapore, trays of writhing black soldier fly larvae munch their way through hundreds of kilograms of food waste a day.

The protein-rich maggots can be sold for pet food or fertilizer, but at Insectta - a startup that says it is Singapore’s first urban insect farm - they are bred to extract biomaterials that can be used in pharmaceuticals and electronics.

“What these black soldier flies enable us to do is transform this food waste, which is a negative-value product, into a positive-value product,” said Chua Kai-Ning, Insectta’s co-founder and chief marketing officer.

Black soldier flies are renowned for their ability to consume any kind of food waste and their speed and efficiency at transforming that waste into body mass, Chua said. The hundreds of millions of larvae at the farm eat four times their body weight in food waste every day.

Working in conjunction with Singapore’s Agency for Science, Technology and Research, Insectta’s technology uses a proprietary and environmentally friendly process to extract lucrative substances such as chitosan, melanin and probiotics from the larvae, it said.

The substances, which are worth a few hundred dollars per gram, are sold to other companies.

Melanin conducts electricity and can be used in semiconductors, supercapacitors or batteries, while chitosan has anti-inflammatory properties and is useful in the manufacturing of cosmetics and pharmaceuticals.

“Traditionally melanin has never been extracted, other than from squid ink,” said Insectta co-founder and chief technology officer, Phua Jun Wei, adding that the production of chitosan usually requires large amounts of corrosive and environmentally damaging solvents.

With the global market valued at $7 billion and expected to grow sharply, Insectta said it was seeking to expand the industrial applications for its high-grade chitosan to wound healing, filaments for organic 3D-printing and drug delivery agents.



Ubisoft Faces Make-Or-Break Moment with ‘Assassin’s Creed Shadows’ 

Visitors stand at the “Assassin's Creed Shadows” video game booth by Ubisoft during the media day at the Gamescom video games trade fair in Cologne, western Germany on August 21, 2024. (AFP)
Visitors stand at the “Assassin's Creed Shadows” video game booth by Ubisoft during the media day at the Gamescom video games trade fair in Cologne, western Germany on August 21, 2024. (AFP)
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Ubisoft Faces Make-Or-Break Moment with ‘Assassin’s Creed Shadows’ 

Visitors stand at the “Assassin's Creed Shadows” video game booth by Ubisoft during the media day at the Gamescom video games trade fair in Cologne, western Germany on August 21, 2024. (AFP)
Visitors stand at the “Assassin's Creed Shadows” video game booth by Ubisoft during the media day at the Gamescom video games trade fair in Cologne, western Germany on August 21, 2024. (AFP)

Ubisoft is banking on the success of "Assassin's Creed Shadows" to fight its way out of financial troubles as the French videogame publisher grapples with falling revenue, a sinking stock price and takeover speculation.

The title, which will be launched on Thursday, marks a return to the company's best-selling franchise after a string of high-profile flops including "Avatar: Frontiers of Pandora" and "Star Wars Outlaws" cast doubts on its strategy of licensing new intellectual property to create games.

Ubisoft's stock took a beating last year, falling more than 40% last year and drawing interest from an activist investor. The company's founding Guillemot family, its largest shareholder, has also been exploring talks with Tencent and other investors on a buyout deal that would let them preserve control.

Ubisoft declined to comment on speculation of selling the company's intellectual property.

The launch of the latest game, however, has been marred by criticism on social media including from Elon Musk over its diverse set of characters, as backlash against diversity efforts gains momentum in the US following President Donald Trump's election.

"The release of Assassin's Creed Shadows is a bit of an existential moment for Ubisoft," said Joost Van Dreunen, a lecturer at NYU's Stern School of Business.

"If it does really well, it could go a long way toward repairing its financial position."

After two delays and multiple leaks, the newest entry in the best-selling franchise transports players to feudal Japan, a fan-favorite setting for gamers. It features two protagonists: Naoe, a stealthy female assassin, and Yasuke, a heavily armored African samurai inspired by the real-life eponymous figure.

Ubisoft has refined the series' core mechanics of parkour and stealth to enhance the dual-character system. "They're not trying to reinvent the wheel, but they really hope that what they tried with the previous games still works right now," said Jordan Van Andel, who has played the game and whose YouTube channel JorRaptor has over 1 million subscribers.

Van Andel, whose content has in the past been sponsored by Ubisoft, said the game offered a more polished experience than recent titles in the franchise but its story was disappointing.

He added that the game needs to attract a player base beyond core fans to match the financial success of "Assassin's Creed Valhalla," the last big release in the series that came out in 2020 and the first game in the franchise to make over $1 billion in revenue.

DIVERSITY CONUNDRUM

Wedbush Securities analyst Michael Pachter believes the current US political climate could also pose challenges to the game, saying that Trump "has made it okay to be anti-DEI."

Since its reveal more than two years ago, "Assassin's Creed Shadows" has faced criticism from groups over its creative choices such as having a black samurai and a female assassin.

"We could argue that the people that voted for him (Trump)... they would have hated the game anyway, but I think that they would have been less vocal," Pachter said.

North America accounted for over 53% of Ubisoft's total videogame bookings in its fiscal year 2024, as many of the company's franchises such as "Far Cry" have a broad appeal to the American audience.

Van Dreunen believes the controversy could work in Ubisoft's favor. "It's free press this only makes the game more interesting to a lot of players, I'm sure," he said.