This week, Protein Industries Canada announced an investment into a project aimed at opening new markets for pulse-based proteins by increasing their functionality in high-value ingredients.
Ingredion Inc., Ingredion Plant Based Protein Specialties (Canada) Inc., Verdient Foods Inc. (Vanscoy, Sask), T Base 4 Investments and O.M.D. Food Products are partnering to commercialize new technology that will improve the functionality of pulse-based ingredients. Initially focusing on yellow peas, the partners will use physical processing techniques to turn the commodities into ingredients that will be available to food processors and manufacturers in Canada and internationally.
"The partnership announced today will help the plant proteins sector remain on the cutting edge of agricultural innovation," said Marie-Claude Bibeau, Minister of Agriculture and Agri-Food. "This investment will both add value to Canadian pulse farmers' crops and grow our exports."
The project is expected to lead to the expansion of applications that will broaden the markets for pulses by improving their functionality as ingredients in plant-based protein products. Following the processing of yellow peas, the partners expect to shift their work to commodities such as lentils, chickpeas, green peas and faba beans. As it progresses, the project is expected to create up to 30 new Canadian jobs.
"The difference these partners are going to make in the lives of Canadians is incredible to think about," Protein Industries Canada CEO Bill Greuel said. "From the farmers who'll have new markets for their crops, to the processors who'll have new ingredients to work with, to the families who'll have new products on their plates, everyone along the value chain will have something to look forward to. It represents a true expansion and strengthening of the plant-protein ecosystem."
A total of $25.7 million has been committed to the project, with the partners investing $12.8 million and Protein Industries Canada committing an additional $12.8 million. The partners expect the pulse-based ingredients to be of interest to large-scale food processors and manufacturers throughout Canada and international markets, helping drive further investment into Canada's economy and the plant-protein sector.
With this being its 12th project announcement, Protein Industries Canada and industry together have invested approximately $272 million into plant-protein technology projects. Protein Industries Canada is currently accepting its third round of Expressions of Interest for its Technology and Capacity Building programs.Click here to see more...