Bunge plans to invest approximately USD 550 million to build a fully integrated soy protein concentrate (SPC) and textured soy protein concentrate (TSPC) facility.
The new plant is expected to meet rising customer demand for key ingredients in the production of plant-based foods and feed. Construction of the facility, which will be adjacent to and integrated with Bunge’s soybean processing plant in Morristown, Indiana, is expected to start early in 2023 and to be commissioned in mid-2025. It is expected to ultimately process close to an additional 4.5 million bushels of soybeans.
“As the world’s largest oilseed processor, plant proteins are a natural extension of our industry-leading oils, fats, and specialty ingredient portfolio. This new facility is an important step in our long-term strategy to strengthen our capabilities in downstream higher-value food ingredients,” said Greg Heckman, Bunge’s CEO.
The new facility is expected to add significant scale, efficiencies, and non-GMO capability to the company’s existing US-based conventional SPC and TSPC operation in Bellevue, Ohio. The company plans to contract with farmers to establish a traceable soybean sourcing program starting with the 2025 harvest.
As part of Bunge’s growth and its commitment to customers, the company also recently invested an additional USD 10 million to enhance its plant protein technical capabilities at the Creative Solutions Center near its St. Louis headquarters.
