BioNova is a Black Soldier Fly bioconversion facility that intercepts fish and vegetable waste from Colombo's two busiest markets before it reaches a landfill — and turns it into protein feed and organic fertiliser instead.
Peliyagoda and Manning together generate 15–20 metric tons of organic waste daily. Almost all of it is currently trucked to Karadiyana or Meethotamulla, generating methane, leachate, and mounting collection costs along the way.
Hermetia illucens larvae consume organic waste 50–70x faster than conventional composting. Colombo's climate — 27–32°C — sits almost exactly inside their optimal growth range.
Waste is weighed, sorted, shredded to under 5cm, and blended fish-to-vegetable at a 1:3 ratio for the optimal C:N balance.
Neonates hatch in 3–5 days, feed on starter vegetable matter, then move onto blended feedstock for 10–14 days of bioconversion.
Mature prepupae migrate out of feeding bins on their own via exit ramps, and are collected automatically — no manual sorting needed.
Prepupae are screened, dried or sold fresh; residual frass is dried and packaged as certified organic fertiliser.
A protein-rich alternative to fishmeal for the aquaculture and poultry sectors, sold fresh or dried.
A nutrient-dense byproduct that meets SLS 1247 organic fertiliser standards and offsets synthetic NPK use.
A 5 MT/day pilot facility pencils out at a modest capital outlay with an EBITDA margin near 84% once at steady state.
| Financial Indicator | Projected Value |
|---|---|
| Total CAPEX | LKR 33.0M (~USD 103K) |
| Annual OPEX | LKR 15.7M (~USD 49K) |
| Annual revenue (steady-state) | LKR 100.8M (~USD 315K) |
| EBITDA margin | ~84% |
| NPV (5yr, 12% discount) | LKR 220–280M |
| Internal Rate of Return | 28–35% |
EIA clearance, land lease, permitting, and MoUs with market administrators for a consistent waste supply.
Construction, staff training, and scale-up from 1 to 5 MT/day, alongside market development for prepupae and frass.
Additional rearing capacity brings the facility to 10 MT/day as demand for both products grows.
15+ MT/day capacity, with potential third-party waste intake from beyond the two founding markets.
BioNova is being developed in consultation with Puravaduma BSF (Pvt) Ltd, Peliyagoda and Manning market management, the Peliyagoda Urban Council, and the Urban Development Authority. If you represent a market, a farm, or a financing partner, we'd like to talk.
Contact the project team