Australian Plant Proteins (APP), a company specializing in high-purity plant protein isolates, recently received AU$47.5 million in investment from agri-food company Bunge. The agreement will allow APP to double the output of its plant protein isolates production by March 2022, as well as give Bunge a minority stake in the company and make it the exclusive distributor in the Americas.
 
Bunge will also have the option to license APP proprietary processing technology outside of Australia. With that, both companies will partner to meet an increasing demand for highly functional, non-GMO plant proteins from manufacturers of plant-based meat, dairy, other foods and beverages, and dietary supplements.
 
“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,” Brendan McKeegan, APP co-founder and director, said.
 
“The investment and interest also creates strong precedent for further development of similar value-add industries in the Australian agricultural sector. 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.”
 
APP reports that its proprietary fractionation process can retain protein quality during production, while allowing for use in a broad range of plant-based foods and beverages, including yogurts, milks, meat alternatives, protein bars and shakes, sauces, condiments, baked goods, and protein supplements.
 
APP began in 2020 with high-purity pea and canola proteins, and is now expanding its portfolio with protein isolates sourced exclusively from premium quality Australian-grown pulses.
 
“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,” Kaleb Belzer, VP of Protein Business at Bunge, said.
 
“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,” McKeegan added. “Australian Plant Proteins has achieved an Australian agribusiness first by linking growers of abundant, quality raw materials to the booming plant protein food and beverage market. Initial plans were to increase manufacturing capacity after 12 months but we’re now looking to fast-track that.”
 
APP was founded in 2016 by EAT Group, a Melbourne-based agricultural investment management company. In 2019, Australian food ingredient distributor Scalzo Foods announced that it had invested in the company, which launched its first commercial-scale plant protein facility in Horsham, located in Victoria’s Wimmera region. The company has used its unique fractionation process to develop protein isolates from yellow peas, mung beans, chickpeas, and red and yellow lentils, all of which are ready for commercial launch. The next stage of development at the Horsham facility will commence next month, with an expected completion date of March 2022, doubling the facility’s capacity.