Life Origin
Life Origin Sdn Bhd
SUMMARY
Life Origin is a biotech company that converts organic waste into quality insect protein, biofuel and organic fertiliser. To further expand the business to a scalable model, the company is working on increasing its capacity by implementing automation digitalisation into the farming process and building the first insect-based biodiesel reactor plant.
PROBLEM
The way we are farming for our food is undoubtedly unsustainable. Malaysia has taken a serious approach and is looking into this issue seriously to reduce the reliance of imported ingredients on our feed production. Food producers are consistently looking for alternative protein to sustain the growth of the aquaculture and poultry farming industry. At the same, the global trend is moving towards reducing carbon emission and carbon neutral to fight against climate change.
Black soldier fly larvae have been increasingly getting spotlight recently where it creates a closed loop zero waste process converting underutilized food waste into protein, oil and fertilizer. It seems like a perfect solution to solve the food security issue until it reaches the bottle neck of the production on scalability and bridging the industrial commercializing gap.
SOLUTION
With more than 3 years of farming experience, fundamentals and data collection, Life Origin possesses a strong solid plan on scaling the production to an industrial level.
Having the goal to achieve the production of larvae to more than 1000 tons annually, Life Origin is committed to realise solid proposals which includes facilities in mating & cultivation, biotechnology & research, production and commercialisation plan.
We take the scalability challenge by phase, making sure automation production and product commercialisation are aligned and addressing targeted markets before turning into huge production.
Life Origin tackles the commercializing challenges by bridging the gap with proven scientific, research data. Thus, Life Origin has made close connections and collaboration with several universities and professional experts in projects that could create great value to the company and the insect industry.
PRODUCT
Life Origin produces 3 main products, insect protein and oil for animal feed ingredients and organic fertilisers.
With further developments with the ingredients we have, Life Origin includes pet supplements and food, aquaculture feed for shrimp and fishes into our product line which can be purchased through online platforms and professional pet retail stores.
Our future products developments which will be introduce to the market soon includes:
Oil supplement for Cats & Dogs (enhancement)
Koi feed (Insect formulation to enhance growth)
Insect based premium Dog Kibbles
TRACTION
Other than the financial growth illustrated in the diagram. Life Origin is working with research institutions and universities professionals in several projects that will bring great value to the company’s growth
UPM & Sunway University - Insect based Biodiesel Reactor Plant
UCSI - Black soldier larva feed development for KOI
Monash University - Formulation of orally and topical Oil supplement for animals
Singapore aquaculture marine research centre - black soldier fly larvae feed formulation for white leg shrimp
In year 2022, Life Origin won the champion in ASB101K entrepreneurship competition organized by Asia School of Business.
CUSTOMERS
Life Origin currently serves B2C, B2B2C customers. Our target customers include small animals and exotics pets’ owners. We work with key opinion leaders and breeders in promoting and reselling our products including live larva, dried larva and formulated products. We will be focusing on an online channel to market and launch our products for the year 2022. Putting more effort on establishing our product line in the pet market, online advertising and event marketing will be spent on promoting our brand before reaching out to mass distribution and retails.
As for ingredients sales, Life Origin is targeting to work on selective projects and customers on aquaculture feed in 2023. At the same time, increasing and improving the process of the larvae production to a scalable and replicable process. This will allow us to reach out to the ingredients B2B market in 2024 onwards.
BUSINESS MODEL
Other than the live larvae, insect protein and oil. The company is currently selling insect protein and oil ingredients formulated products and supplements to the pet market. New kibbles and enhanced formulated oil supplement products are expected to launch to fit better market demand for the cats and dogs market in Q1 2023.
Sales channels of the pet products will be focusing on online digitally and potential offline professional retailers / pet services providers. Our pet markets includes:
small & exotic animals market
cats & dogs market
aquaculture (koi) and ornamental shrimps
Nevertheless, the company will be working with universities and research institutions to develop aquaculture feed formulation targeting shrimp and koi. These new products are expected to complete commercialising testing with aquaculture farmers and launch to market in Q4 2023. This strategic planning is meant to bridge the gap of commercial aquaculture industry to adopt insect ingredients with scientific proven data.
With funds raised from ECF, 20% will be invested into an insect-based biodiesel plant, Life Origin is looking to launch for industrial use early adopters trials in Q1 2024.
The goal for the ECF round is to realise a scalable and cloneable automated breeding process that could increase larvae production 5 to 10 tons a month and achieve self-sustaining ingredients to produce needed products for the pet market.
MARKET
Life Origin is currently operating in the Malaysia pet food market which is around USD 238 Million.
With the expansion plan following the ECF round, Life Origin will be looking at selling insect protein as an ingredient not just for Malaysia but also exporting across nations around the region. Consequently, this will enable the company to access the global insect protein market which is worth USD 1336 Million in 2025 and 9.4 Billion in 2030.
COMPETITION
Insect industry is a huge and lucrative market that attracts many regional competitors that operate in Malaysia. Among the competitors the identical ones are: Entofood, Nutrition Technologies, Protenga, Inseact from overseas, Bioloop, Entomal, Global Cerah, Unique Biotech and more upcoming players and projects initiated by MNCs and large corporations.
Life Origin position ourselves distinctively with efficient self-owned breeding technologies and processes that produce quality products consistently while innovate and produce off the table products to create and maximise the value of our insect ingredients that we produced.
FUNDING
We are planning to raise RM1,000,000 where 20% will be used for development of our biodiesel plant at UPM, 40% on automation and expansion, 12% on research & development of feed products. While the remaining 28% will be used as working capital which include marketing and operation.
VISION
Our vision is to become a global carbon negative company that convert waste to wealth by producing sustainable insect-based ingredient and green energy.
INVESTORS
Early stage investor: Watch Tower & Friends.
Seed investor: Glocalink Singapore
THE COMPANY
Company Name: Life Origin Sdn Bhd
Date of incorporation: 31 October 2019
Registration number: 201901039318 (1348648-M)
Date of commencement of business: 31 October 2019
FOUNDERS
Sio Chun Jia
Founder / Director
MBA Strathclyde Business School, 2018 – 2022
Prof. Diploma in Digital Marketing, DMI Ireland 2017
BSc (Hons) Creative Multimedia, Multimedia University 2005
Sio was a pioneer team member of a digital security start up company for more than 10 years. His experience ranges across online & offline marketing, branding & advertising, managing regional conference events. He was the Head of Public Affairs for a bank in Cambodia in charge of brand management and marketing activities.
Sio started black soldier fly larvae breeding in 2018 and founded Life Origin. To date, Life Origin has a consistent and proven larvae production system and produces larvae based products for pets and ornamental fishes.
Julius Au Weng Lee
Partner / Production
Master of Science, Black Soldier Fly Breeding & Growth, Iowa State University 2020
Bachelor of Science, Industrial Engineering, Iowa State University 2017
Julius received a Master in Science from Iowa State University in the Industrial and Agricultural Program with a research emphasis on black soldier fly breeding and cultivation.
During this period the personal course focus was heavily focused on feed safety and production, statistical research and instrumentation together with aquaculture.
Julius is responsible for data analysis and production improvement and planning for Life Origin. He is also involved in research and successfully completed proof of concept producing biodiesel and glycerol from black soldier larvae oil.
TEAM
Lim Mingquan
Production & Research Assistant
Master of Science in Environmental Biotechnology, 2021
Phytoremediation,
Universiti Putra Malaysia
Bachelor Degree of Science in Genetics, 2013, Universiti Kebangsaan Malaysia
5 years experienced Research Assistant in MARDI and UPM covering agri nutrigenomics, microbial cultivation, DNA isolation and more.
PRESS
BFM - Life Origin - Farming Flies for Food
https://www.bfm.my/podcast/enterprise/open-for-business/life-origin-farming-flies-for-foodOriental Daily 东方日报
https://www.orientaldaily.com.my/news/shtx/2022/02/14/467603Clocking in - Sustainable Buzz Feed for the Future
https://youtu.be/jZ8wMHpLr_sBFM - World Food Day Special
https://www.bfm.my/podcast/enterprise/ent-enterprise/ent-ofb-world-food-day-maggot-sausages-and-insect-ice-creamVulcanpost
https://vulcanpost.com/681498/life-origin-malaysia-farm-edible-fly-larvae/Food Navigator Asia
https://www.foodnavigator-asia.com/Article/2019/12/11/Soldier-on-Malaysian-start-up-turning-to-black-soldier-flies-as-sustainable-protein-for-Asia
DISCLAIMERS
No shares will be allotted or issued based on this document after six months from the closing of the offer period.
This issue, offer or invitation for the offering is a proposal not requiring authorisation of the Securities Commission under section 212(8) of the CMSA 2007.
This document has not been reviewed by the Securities Commission Malaysia. The Securities Commission does not recommend nor assumes responsibility for any information including any statement, opinion or report disclosed in relation to this fund raising exercise and makes no representation as to its accuracy or completeness. The Securities Commission expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the information disclosed.