The Government of Canada announced the financing of close to $100 million for the new Merit Functional Foods plant in Winnipeg, Manitoba. Merit Functional Foods will construct a commercial-scale protein extraction facility that will produce plant proteins superior in solubility, flavour and purity. This plant, scheduled to be fully operational in December 2020 will create 80 new jobs and will help to establish the region as a world-leading agriculture and processing hub.
“The made-in-Canada agricultural technologies and innovations from Merit Functional Foods not only give us a competitive advantage in the global marketplace, they are creating jobs and adding value to our farmers` commodities. This is a very exciting project that demonstrates our Government`s commitment to positioning Canada as a leader in production of plant proteins.”The Honorable Marie-Claude Bibeau, Minister of Agriculture and Agri-Food
Merit Functional Foods will be the first facility in the world with the capability to produce food-grade canola protein ready and safe for human consumption. It will source 100 percent of its inputs from Canadian producers, with a projected forecast to utilize 10,000 metric tonnes of yellow peas and 17,000 tonnes of canola seed in its first year.
The federal financing for Merit Functional Foods includes:
- $10 million in a repayable contribution from Agriculture and Agri-Food Canada’s AgriInnovate Program;
- $25 million in debt financing from Farm Credit Canada;
- $55 million in debt financing from Export Development Canada; and
- $9.2 million from the Protein Industries Canada supercluster announced earlier to support a project for the commercialization of a new highly soluble, highly functional pea and canola protein isolates.
Consumer demand for plant-based proteins is growing in both Canada and markets around the world. This innovative technology provides alternatives to animal and dairy derived proteins, adding value to the grain commodities and plant-based proteins.
Read more at Government of Canada