The company is providing half of the investment into the project, with Merit Functional Foods, TWC Nutrition, Daiya Foods and Grand River Foods together investing the remaining half
Protein Industries Canada has announced a co-investment into a project to use Canadian crops in the development of plant-based foods and ingredients.
Merit Functional Foods, TWC Nutrition, Daiya Foods and Grand River Foods are partnering to utilise Merit’s pea, canola and blended pea-canola protein ingredients in plant-based products. This could include alternative meat products, alternative dairy products and other beverages, developed by the other companies.
Protein Industries Canada is providing half of the investment into the project, with Merit Functional Foods, TWC Nutrition, Daiya Foods and Grand River Foods together investing the remaining half for a total project investment of $7.9 m.
Utilising two widely grown Canadian crops in the project also presents significant opportunity for the country’s farmers, providing them options for marketing their commodities. Sourcing these ingredients domestically also creates opportunity for Daiya Foods, TWC Nutrition and Grand River Foods, who will also be able to use them to expand both their Canadian and international markets.
“Canada is known for our diverse selection of high quality crops, but we have the potential to be known for what we can do with them,” Protein Industries Canada CEO Bill Greuel said. “Merit Functional Foods has proven that our peas and canola make for ideal plant protein ingredients, and now TWC Nutrition, Daiya Foods and Grand River Foods will help show consumers around the world that these ingredients can be the base for healthy, delicious plant-based foods and beverages.”
“The collaboration involved in this partnership will allow us to bring new plant-based innovations to our Kaizen Naturals brand of nutritional supplements that surpass the evolving consumer expectations for health products in Canada and around the world,” TWC Nutrition Vice President of Marketing and E-Commerce Jason Travis said.
Protein Industries has invested more than $367 million to the Canadian plant-based food, feed and ingredients sector. It’s currently seeking Expressions of Interest for short-cycle projects under their Technology program stream, with a focus on commercialisation and near-term market potential.