Israel Chemicals Ltd, better known as ICL, has announced that it is planning to invest approximately $20 million to expand its capabilities in the plant-based meat alternatives market. The investment will go towards expanding its manufacturing capacity and R&D support capabilities for its Rovitaris alternative protein technology.
The mineral and chemical company provides food ingredient solutions for customers around the world, with its Rovitaris technology offering solutions for food manufacturers to create plant-based meat alternatives that are ‘virtually indistinguishable’ from their traditional meat counterparts.
Rovitaris is a proprietary technology developed by ICL, that supports the production of allergen free plant-based food. ICL claims its technology significantly improves taste and texture of meat substitutes and its freeze and thaw stability, which results in reduced costs for food manufacturers.
According to ICL, the flexibility of Rovitaris enables the creation of customised applications and flavour profiles. It can be used in conjunction with a broad variety of vegetable protein sources, providing alternative protein solutions for burgers, hot dogs, deli meats, nuggets and fish sticks.
ICL continues to develop new protein sources and to differentiate its offerings for its customers. Upcoming launches include textured vegetable crumbles, which will expand ICL’s existing offerings of pulse-based (pea and faba) proteins.
Ofer Lifshitz, president of ICL Phosphate Solutions, said: “Responsive adaptability is our key to serving ICL’s customers. As a market leading technology, Rovitaris enables manufacturers to create the products that consumers demand while expanding their product development to include new exciting applications.”
The investment follows the signing of new supply agreements with partners and customers in several key global markets including Europe, North America and South America.
© FoodBev Media Ltd 2023