Protein Industries Canada backs fava bean research with USD 9.8M funding
CANADA – Protein Industries Canada has committed CAD 13.2 million (approximately USD 9.8 million) co-investment to streamline Canada’s position in the global plant protein market.
The initiative aims to propel the Canadian fava bean ecosystem forward, with a consortium comprising Prairie Fava, DL Seeds, and Three Farmers collaborating to explore the potential of new fava bean varieties in consumer-facing products, especially snack foods.
Protein Industries Canada is injecting CAD 5.4 million (around USD 4 million) into the project, with the partners contributing the remaining funds.
The primary goal is to enhance the supply chain for fava beans within the Canadian market, catering to the escalating demand for sustainable protein sources.
Prairie Fava, an integral player in this initiative, is cultivating DL Seeds’ fava bean varieties and subjecting them to its patented processing methods.
The focus is on evaluating their functionality, with valuable insights provided to DL Seeds for informed new variety development.
The seamless collaboration extends to agri-food ingredient companies supplying fava ingredients to Three Farmers, a renowned snack brand.
Three Farmers will conduct extensive functionality tests on these ingredients to integrate them into their product line.
Protein Industries Canada’s CEO, Bill Greuel, emphasized the significance of this holistic approach, stating, “Prairie Fava, DL Seeds, and Three Farmers have taken a full value chain approach to strengthening the fava bean supply chain and market in Canada – an approach that’s needed if we’re going to make Canada truly competitive in the global plant protein space.”
He further highlighted the advantages of collaboration across the ecosystem, underscoring how joint efforts among crop breeders, ingredient manufacturers, and food processors can capitalize on the burgeoning global protein market.
Greuel stated, “By working together across the ecosystem, crop breeders, ingredient manufacturers and food processors can capture the growing global protein opportunity while providing consumers with a variety of healthy, high-protein snack options.”
This investment not only drives research and development but also empowers each company involved to scale their product offerings and operations.
Notably, Three Farmers stands to benefit from the expanded capabilities facilitated by the investment, enhancing its recently inaugurated facility in Saskatoon.
The strategic investment by Protein Industries Canada signifies a pivotal moment for the Canadian plant protein sector, reinforcing the nation’s commitment to sustainable and innovative practices.
As the demand for plant-based protein continues to surge globally, this collaborative effort positions Canada to emerge as a key player in meeting the evolving needs of consumers and the broader protein market.
The co-investment is anticipated to play a vital role in shaping the future landscape of fava bean cultivation, processing, and consumption, contributing to a more resilient and competitive Canadian plant protein industry.
For all the latest fresh produce industry news updates from Africa, the Middle East, and the World, subscribe to our NEWSLETTER, follow us on Twitter and LinkedIn, like us on Facebook, and subscribe to our YouTube channel.
Protein Industries Canada backs fava bean research with USD 9.8M funding
CANADA – Protein Industries Canada has committed CAD 13.2 million (approximately USD 9.8 million) co-investment to streamline Canada’s position in the global plant protein market.
The initiative aims to propel the Canadian fava bean ecosystem forward, with a consortium comprising Prairie Fava, DL Seeds, and Three Farmers collaborating to explore the potential of new fava bean varieties in consumer-facing products, especially snack foods.
Protein Industries Canada is injecting CAD 5.4 million (around USD 4 million) into the project, with the partners contributing the remaining funds.
The primary goal is to enhance the supply chain for fava beans within the Canadian market, catering to the escalating demand for sustainable protein sources.
Prairie Fava, an integral player in this initiative, is cultivating DL Seeds’ fava bean varieties and subjecting them to its patented processing methods.
The focus is on evaluating their functionality, with valuable insights provided to DL Seeds for informed new variety development.
The seamless collaboration extends to agri-food ingredient companies supplying fava ingredients to Three Farmers, a renowned snack brand.
Three Farmers will conduct extensive functionality tests on these ingredients to integrate them into their product line.
Protein Industries Canada’s CEO, Bill Greuel, emphasized the significance of this holistic approach, stating, “Prairie Fava, DL Seeds, and Three Farmers have taken a full value chain approach to strengthening the fava bean supply chain and market in Canada – an approach that’s needed if we’re going to make Canada truly competitive in the global plant protein space.”
He further highlighted the advantages of collaboration across the ecosystem, underscoring how joint efforts among crop breeders, ingredient manufacturers, and food processors can capitalize on the burgeoning global protein market.
Greuel stated, “By working together across the ecosystem, crop breeders, ingredient manufacturers and food processors can capture the growing global protein opportunity while providing consumers with a variety of healthy, high-protein snack options.”
This investment not only drives research and development but also empowers each company involved to scale their product offerings and operations.
Notably, Three Farmers stands to benefit from the expanded capabilities facilitated by the investment, enhancing its recently inaugurated facility in Saskatoon.
The strategic investment by Protein Industries Canada signifies a pivotal moment for the Canadian plant protein sector, reinforcing the nation’s commitment to sustainable and innovative practices.
As the demand for plant-based protein continues to surge globally, this collaborative effort positions Canada to emerge as a key player in meeting the evolving needs of consumers and the broader protein market.
The co-investment is anticipated to play a vital role in shaping the future landscape of fava bean cultivation, processing, and consumption, contributing to a more resilient and competitive Canadian plant protein industry.
For all the latest fresh produce industry news updates from Africa, the Middle East, and the World, subscribe to our NEWSLETTER, follow us on Twitter and LinkedIn, like us on Facebook, and subscribe to our YouTube channel.