Bunge has invested $45.7 million to help Australian Plant Proteins double the output of its plant protein isolates production by March 2022.
Bunge has invested $45.7 million to help Australian Plant Proteins (APP) double the output of its plant protein isolates production by March 2022. The investment also gives Bunge a minority stake in the company, makes Bunge the exclusive distributor of APP’s ingredients in the Americas, and will give Bunge the option to license APP propriety processing technology outside of Australia. APP launched its first commercial processing plant in Horsham last year.
“Securing investment and distribution agreements with a major multinational such as Bunge, alongside our existing partnership with Scalzo Foods in Australia and New Zealand, is testament to the value and ongoing growth in demand for quality, plant-based protein options,” said Brendan McKeegan, APP co-founder and director, in a press release. “As soon as APP commenced commercial production in November 2020, we experienced soaring demand for our premium faba bean protein isolate in Australia and internationally, with customers impressed with the product’s high functionality and clean taste.”
With APP’s proprietary fractionation process, which retains protein quality during production, APP’s protein isolates can be used in a broad range of plant-based foods and beverages, including yogurt, milk, meat alternatives, protein bars and shakes, sauces, condiments, baked goods, and protein supplements. APP has also used its fractionation process on yellow peas, mung beans, chickpeas, red lentils, and yellow lentils, all of which are ready for commercial production.
“By combining APP’s proprietary extraction technology with our application expertise and global sales and distribution networks, we provide a significant competitive advantage in making quality plant protein accessible to customers around the world,” said Kaleb Belzer, Bunge’s vice president of protein business. “We’re enabling food and beverage manufacturers to tap into the demand for new protein types, make protein claims, deliver exceptional texture and mouthfeel, and align with consumers seeking non-GMO and clean label offerings.”