Ingredion has announced an increased investment in plant-based proteins to $185 million by the end of the year.
The company is expanding its manufacturing capabilities in Vanscoy, Saskatchewan, Canada, with its Verdient Foods joint venture, which is jointly owned and operated by Oscar-winning film director James Cameron and Suzy Amis Cameron and a local Saskatchewan family office – PIC Investment Group.
As part of the investment, Ingredion has begun construction on a new manufacturing facility to produce pulse-based protein ingredients.
The facility, which is expected to be operational in the second half of 2020, “significantly increases” the firm’s food processing capabilities to meet the growing consumer demand for plant-based proteins.
“We’ve advanced our specialties strategy to capitalise on the trends shaping the food industry,” said Ingredion CEO Jim Zallie.
“Our latest investment will significantly expand our product portfolio to provide more innovative solutions to our customers, which will enable future growth. Ingredion and Verdient also share a common vision that sustainable and trusted sourcing will play an important role in the future of consumer-preferred plant-based proteins.”
James Cameron added: “I’m excited to further our relationship with Ingredion, which will power significant expansion of plant-based proteins to consumers around the world. By working together, we have an amazing opportunity to be leaders in the next wave of global food production, which will have a lasting impact to future generations.”
In February 2018, Ingredion purchased a processing facility in South Sioux City, Nebraska, and is making significant capital investments to transform the site to produce pulse-based protein isolates.
By the end of 2019, this facility will produce ingredients that enhance the company’s current Vitessence Pulse protein isolate line, to include higher protein isolates primarily for the nutrition, health and wellness categories.
© FoodBev Media Ltd 2019