Canadian Prime Minister Justin Trudeau has announced an investment of almost $100 million for a producer of plant protein.
The financing will go to Merit Functional Foods, for its new Winnipeg facility which will produce the world’s highest purity and highest quality pea and canola protein. The company has promised to “redefine plant protein”.
Merit claims that it will produce plant proteins superior in flavor, solubility, and purity.
This will be the world’s first production plant able to create canola protein suitable for human consumption.
Prime Minister Justin Trudeau stated: “As people around the world start eating more plant-based food products, we have an opportunity to bring together innovation in Canada and Canadian crops, and a chance to create good, well-paying jobs. Today, I can announce that our government is contributing almost $100-million for the new Merit Functional Foods location in Winnipeg. This facility will be a world leader in plant-based proteins and will create good jobs in a fast-growing field.”
According to the National Research Council Canada, the market for alternative proteins is expected to grow at 14% annually by 2024. This is a third of the country’s entire protein market.
Over 40% of Canadians have adopted flexitarian eating habits, motivated by health and sustainability.