MINNEAPOLIS – Cargill announced an additional $75 million investment into Puris, a North American producer of pea protein and a Beyond Meat supplier. The new financing allows Puris to more than double its pea protein production using an existing 200,000-sq.-ft. facility in Dawson, Minnesota.
Tyler Lorenzen, president of Puris, explained how this expansive project will help the company keep up with growing demand for its products.
“The Dawson facility will not only support Puris farmers in the US with a crop that regenerates their land and that is sustainable because it provides soil health advantages but will also support the growing demand for great tasting plant-based products in the marketplace,” Lorenzen said. “This investment will grant Puris the ability to support more food companies, more farmers and more consumers faster.”
Formerly known as World Food Processing, Puris produces pea protein, starches, fibers and other non-GMO ingredients from soy, pulses, lentils and corn for use in a range of applications, including powders, mixes, energy bars and cereals. All products are vegan, gluten-free, dairy-free and allergen-free.
“As consumer demand increases for plant-based proteins, we want to make sure that Cargill, with our partner Puris, can deliver on that demand with great tasting, sustainable and label-friendly pea protein for customers in North America and across the world,” said Laurie Koenig, Cargill texturizers and specialty lead. “This investment also provides significant support to the local economy with approximately 90 new jobs and a new revenue stream for Midwest farmers.”
Puris uses a network of more than 400 US farmers to grow the peas. The company already owns and operates three facilities in North America: Turtle Lake, Wisconsin, Oskaloosa, Iowa, and now Dawson, Minnesota.
Construction to modify the Minnesota facility will start immediately, with operations anticipated to begin by late 2020.
“Our investment in pea protein not only enhances our diverse portfolio of high-quality ingredients but also expands our opportunity to work with customers to make products that use a variety of our ingredients to satisfy consumers around the world,” Koenig said.
Originally, Cargill announced a joint venture and investment of $25 million in January 2018.