INGREDION INVESTS $140 MILLION FOR PLANT-BASED PROTEINS

Ingredion INGR, +0.42% which turns grains, fruits, vegetables and other plant material into ingredients for food and other items, said Thursday that it will invest $140 million to expand into a range of plant-based proteins. Two North American manufacturing facilities will produce pea-protein isolates and pulse-based flours in 2019. Ingredion has also entered into a joint partnership with Saskatchewan-based Verdient Foods Inc. to invest in an existing facility to make pulse-based proteins and flours made from peas, lentils and fava beans. Verdient is jointly owned and operated by Oscar-winning film director James Cameron, Suzy Amis Cameron and PIC Investment Group, a local family office.

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