Protein Industries commits USD 15.3 million towards plant-based foods from seaweed

Vancouver, Canada-based Konscious Foods, Merit Functional Foods, and Canadian Pacifico Seaweeds have joined forced with Regina, Saskatchewan, Canada-based Protein Industries to announce a new line of plant-based seafood analogs.

Protein Industries has committed USD 15.3 million (EUR 14.7 million) and the other partners have collectively committed USD 9.8 million (EUR 9.4 million) to the project, the company said in a press release. Over the past three years, Protein Industries and its partners have cumulatively invested more than USD 485 million (EUR 467 million) towards the Canadian plant-based food sector.

The product line will include more than 20 items, each containing a base of the Canadian-grown seaweed, and will have a similar taste and texture as their seafood counterparts, the companies said in a join statement.

“We are pleased to partner with Protein Industries Canada, Konscious Foods, and CPS on this project,” Merit Functional Foods Co-CEO Ryan Bracken said. “Our mission at Merit is to empower the next generation of plant-based foods and beverages. As such, we are excited to provide Konscious Foods with Merit plant proteins that deliver on functionality, taste, and nutrition to create plant-based seafood alternatives that exceed consumer expectations."

Canadian Minister of Innovation, Science, and Industry François-Philippe Champagne praised the collaboration.

“It’s impressive to see Canadian companies working together to develop new and innovative plant-based seafood products,” Champagne said. “This project, with the support of the federal government, is building capacity, leveraging partnerships and creating more jobs and economic growth, all while delivering in-demand products.”

Photo courtesy of Wirestock Creators/Shutterstock