Canadian President Justin Trudeau has invested $95 million in a facility aiming to ‘redefine plant-based protein’.
The money has been given to Merit Functional Foods by Agriculture and Agri-Food Canada as a 10-year interest-free loan.
The company currently produces plant-based protein from peas and canola and hopes to create 175 new jobs over the next three years.
‘A world leader’
At a press conference, Trudeau said: “As people around the world start eating more plant-based food products, we have an opportunity to bring together innovation in Canada and Canadian crops, and a chance to create good, well-paying jobs…
“This facility will be a world leader in plant-based proteins and will create good jobs in a fast-growing field. And by using 100 percent Canadian inputs, we will also support the farmers who produce canola and yellow peas used in Merit’s products.”
According to Food Navigator, CEO of Merit Functional Foods Ryan Bracken said: “This facility is going to be key in redefining plant-based protein.
“It’s a flexible facility that will produce an unprecedented pea protein and the first canola protein available for use in foods and beverages.”
Merit also partnered with Swiss conglomerate Nestlé earlier this year to help the company develop its plant-based offerings.