ADM to Meet Fast-Growing Demand For Alternative Proteins with Significant Capacity Expansion, New Innovation Center
12 Avril 2022 - 03:00PM
Business Wire
- $300M expansion will increase soy protein concentrate
production in Decatur, nearly doubling extrusion capacity
- New Decatur-based Protein Innovation Center will power
partnership, innovation and speed to meet growing customer
needs
ADM (NYSE: ADM), a global leader in nutrition, announced today
that it will invest approximately $300 million to significantly
expand its Decatur, Illinois, alternative protein production, as
the company continues to add capacity to meet strong demand growth.
ADM will further enhance its alternative protein capabilities by
opening a new, state-of-the-art Protein Innovation Center, also in
Decatur.
“The global trends of food security and sustainability are
driving structural changes in the food industry, including strong
growth in alternative proteins, and we’re investing to ensure ADM
remains a leader in this vast and exciting space,” said Leticia
Gonçalves, ADM’s president of Global Foods. “The array of
opportunity areas for alternative proteins in foods and nutrition
solutions is continuing to grow at 10% CAGR, with alternative meat
and dairy sales alone expected to grow by 14% a year and reach $125
billion in 2030. Our sales in this space have been growing at rates
much faster than the industry’s, and our work to expand our
leadership position with new innovation and capacity is an
important driver of future growth for our Nutrition business. We’re
proud to continue to invest and innovate, delivering on our
strategy, supporting global food security and advancing
sustainability for our customers and our future.”
The production increase represents a significant
expansion of ADM’s alternative protein capabilities. The project –
which is expected to be completed in the first quarter of 2025,
subject to all applicable approvals and permits – will
significantly strengthen ADM’s ability to meet growing global
demand by increasing soy protein concentrate capacity and nearly
doubling extrusion capacity at ADM’s Decatur complex. The
enhancements will improve production capabilities by utilizing the
latest cutting-edge technologies and processes, including
best-available control technology in line with ADM’s commitments to
environmentally sustainable operations.
The project is only the latest to expand ADM’s global
alternative protein production capacity. Last year, the company
acquired Sojaprotein, a leading European provider of non-GMO human
nutrition protein solutions. Between the two investments, ADM will
increase its global alternative protein production capacity by more
than 30%.
The Protein Innovation Center will further expand ADM’s
cutting edge Decatur-based innovation complex, joining the
company’s Food Application Center and Animal Nutrition Technology
Center and enhancing the company’s ability to work closely with
customers to develop custom solutions to meet their needs. The new
Decatur Innovation Center will bring together labs, test kitchens,
and pilot-scale production capabilities to power new innovation,
from novel and diversified ingredients, to more sustainable and
efficient processing, to unique and differentiated texture, taste,
appearance and nutrition solutions.
“Our customers choose ADM because we can innovate across the
entire value chain, from seed to fork and around the globe, to
arrive at the perfect solutions to meet growing consumer demand,”
Gonçalves continued. “We’re proud to be the alternative protein
partner of choice for global CPGs, food service companies and
startups alike, with the highest-quality ingredients, unparalleled
global scale, unmatched speed to market, and a value chain that no
other company can offer. The investments we’re announcing today
showcase our commitment to supporting their success and growing
with them as more and more consumers choose alternative
proteins.”
Forward-Looking Statements
Some of the above statements constitute forward-looking
statements. ADM’s filings with the SEC provide detailed information
on such statements and risks, and should be consulted along with
this release. To the extent permitted under applicable law, ADM
assumes no obligation to update any forward-looking statements.
About ADM
ADM unlocks the power of nature to enrich the quality of life.
We’re a premier global human and animal nutrition company,
delivering solutions today with an eye to the future. We’re blazing
new trails in health and well-being as our scientists develop
groundbreaking products to support healthier living. We’re a
cutting-edge innovator leading the way to a new future of
plant-based consumer and industrial solutions to replace
petroleum-based products. We’re an unmatched agricultural supply
chain manager and processor, providing food security by connecting
local needs with global capabilities. And we’re a leader in
sustainability, scaling across entire value chains to help
decarbonize our industry and safeguard our planet. From the seed of
the idea to the outcome of the solution, we give customers an edge
in solving the nutritional and sustainability challenges of today
and tomorrow. Learn more at www.adm.com.
Source: Corporate Release Source: ADM
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version on businesswire.com: https://www.businesswire.com/news/home/20220411005864/en/
Jackie Anderson media@adm.com 312-634-8484
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