Agribusiness big Bunge plans to construct a $550 million protein focus facility in Indiana to make key elements used within the manufacturing of plant-based meals, processed meat and different merchandise.
The brand new facility, which shall be constructed subsequent to Bunge’s soybean processing plant in Morristown, will course of practically 4.5 million further bushels of soybeans to make soy protein focus and textured soy protein focus. Development is prone to begin within the first quarter of 2023 and be commissioned by the center of 2025. The brand new plant will create about 70 full-time jobs.
“Plant proteins are a pure extension of our trade main oils, fat, and specialty ingredient portfolio,” Greg Heckman, Bunge’s CEO, mentioned in a press release. “This new facility is a crucial step in our long-term technique to strengthen our capabilities in downstream larger worth meals elements.”
The announcement, Bunge mentioned, comes after it lately invested a further $10 million to reinforce its plant protein technical capabilities close to its St. Louis headquarters. The funding enhanced its skill to work with different meat and dairy, processed meat, and drinks that complement its bakery and fry labs.
Regardless of a slowdown within the consumption of plant-based meats, meals created from non-animal sources are anticipated to develop as folks maintain a more in-depth watch on what they eat, the way it’s produced and the impression manufacturing has on the atmosphere. For corporations, comparable to Bunge, establishing a plant now that can take just a few years to finish will allow it to satisfy demand ought to it materialize sooner or later.
Within the final yr and a half, different corporations have introduced new development tasks to deal with an anticipated soar in consumption.
Puris retrofitted an outdated dairy plant in Minnesota that greater than doubled its manufacturing capability for pea protein.
Cargill introduced plans in Could to construct a brand new soybean processing facility in Missouri to help the rising demand for oilseeds utilized in meals, animal feed and gasoline markets. A couple of months later, it dedicated $50 million to construct a corn syrup refinery in Iowa that can increase the corporate’s skill to satisfy the rising demand for the ingredient in a extra sustainable means.