Merit Functional Foods announced that is has formed a partnership with Bunge Limited that will bolster is efforts to bring plant-based protein ingredients sourced from peas and canola to market.
 
Bunge, a leading international agribusiness and food company, has made a $30 million capital investment in Merit, giving the global ingredient supplier a minority interest in the Canadian-based company.
 
The partnership will expedite the construction of Merit’s plant-based protein production facility in Manitoba, Canada, where it will produce novel pea and canola protein ingredients. It will be the only commercial-scale facility capable of producing food-grade canola protein in the world, Merit reports. Construction is still underway, with the plant expected to be fully operational by December 2020.
 
“We’re excited to have a global partner like Bunge recognize our mission and assist us in accelerating our plans and path to launch,” Merit Co-CEO Ryan Bracken said. “Bunge also holds a deep knowledge of international commodity markets which will help reinforce our canola business with customers globally.”
 
The construction efforts speak to a rapidly rising interest in plant-based foods and beverages, including dairy and meat alternatives, the company said. Merit’s product portfolio of pea and canola protein ingredients supports the growing need for highly functional and taste-forward plant-based applications. As one of the leading processors of canola in Canada, Bunge has strong origination expertise and will supply Merit with critical inputs, the company said.