本研究以黑水虻（Black Soldier Fly, Hermetia illucens）生物處理技術應用於都市污泥資源化為主題，透過單一個案研究法，深入剖析循環力量生物技術股份有限公司在桃園市楊梅水資源回收中心推動黑水虻污泥處理示範計畫之營運模式與技術實踐。研究內容涵蓋五大構面：技術流程、產業價值鏈、商業模式九宮格、副產物高值化應用與制度政策環境，並整合永續發展與循環經濟觀點進行多層次解析。
本研究發現，黑水虻技術具備高效減量、低碳排放與副產物可資源化等優勢，特別是在高含水率且成分複雜的生活污泥處理領域展現高度潛力。個案中所採用之貨櫃式模組化自動養殖系統，成功建構出可複製、可標準化的場域解決方案，並結合蟲體蛋白、蟲油與蟲糞等副產物商品化應用，拓展至飼料、肥料與生質能源市場，形塑兼具環保效益與商業價值之永續營運模式。
然而，本研究亦指出技術穩定性、蟲卵供應鏈、法規限制與市場接受度等仍為產業擴散之瓶頸。研究建議政府應建立制度試辦機制與跨部會協作平台，企業則應持續推進設備模組化、副產物商品化與品牌經營，雙方共構支持黑水虻技術擴散之永續生態體系。
本研究之貢獻在於提供一套完整且具實務操作性的黑水虻商業模式與營運策略架構，並對政策設計、產業推廣與未來學術研究提供具體參考與啟發。

This study explores the application of black soldier fly (Hermetia illucens) bioconversion technology in the resource recovery of urban sewage sludge. Using a single case study methodology, the research analyzes the implementation of a demonstration project by Circulatory Power Biotech Co., Ltd. at the Yangmei Water Resource Recycling Center in Taoyuan City, Taiwan. The study investigates five key dimensions: technical processes, industrial value chains, business model design, high-value utilization of by-products, and regulatory and market development. A sustainability and circular economy perspective is integrated throughout the analysis.
The findings indicate that black soldier fly technology demonstrates significant potential in sludge treatment due to its high efficiency in organic matter reduction, low carbon emissions, and potential for by-product reuse. The modular containerized auto-breeding system developed in the case provides a replicable, standardized solution for on-site sludge processing. In addition, the commercialization of BSF-derived products—including insect protein, oil, and frass—has enabled integration into feed, fertilizer, and biofuel markets, forming a business model that balances environmental impact and economic viability.
However, the research also identifies critical challenges including the stability of egg supply, technical maturity, regulatory gaps, and market acceptance. The study suggests that the government should establish a regulatory sandbox and interagency coordination platform, while companies should enhance modular system design, by-product value-addition, and ESG-based branding strategies. These efforts are necessary to foster a supportive ecosystem for the broader deployment of black soldier fly bioconversion in Taiwan and beyond.
This research contributes by offering a systematic and practical framework for BSF-based business modeling and operational strategy, with implications for future policymaking, industry promotion, and academic research.

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