Cargill made its latest investment on PURIS, a significant player in the pea protein production scene to boost the innovation in smart agriculture.
FREMONT, CA: Cargill recently made an investment of $75 million on the largest North American producer of pea protein, PURIS. The additional funding from Cargill will enable enhanced pea protein production in the existing 200,000 square-foot facilities in Dawson, Minnesota. As vegan meat is gaining more traction in the past few months, the demand for increased production in pea protein has driven up the need for enhanced production. The investment will strategically place PURIS in a position to catch up with the rising demand for pea proteins, starches, and fibers. All of these are grown and produced through its unique vertically integrated and transparent supply chain.
Cargill’s investment in pea protein enhances the company’s diverse portfolio of high-quality ingredients. It also expands the’ company’s opportunity to work with customers to make products that use a variety of ingredients to satisfy consumers around the world, elaborates the management. This practice will not only provide employment to farmers but also assists in regenerating the soil. PURIS will purchase the peas the farmers cultivate and convert the crop into pea ingredients.
By commencing the company’s proprietary non-GMO pea seed, PURIS has employed its network of U.S. farmers. It accounts to over 400 individuals to grow the peas in the company’s standardized pattern. With engineering works complete in the Dawson facility, the construction for retrofitting the structure for pea production will begin immediately, with a predicted operational start date in the second half of 2020.
Cargill announced its joint venture with PURIS early last year, which was initiated with an investment of $25 million to be utilized for the addition of a substantial capacity at the Turtle Lake, Wis. production facility. Pea protein investments help in broadening Cargill’s portfolio of alternative proteins, including the cell-cultured protein, to fulfill consumer’s dietary preferences.
The funding obtained in the latest round is for repurposing the existing facility for a new pea protein plant. It gives an excellent example of Cargill’s interests in smart, sustainable innovation in Minnesota. The region has been brought to the forefront of the food production industry.