Global Agro Food Institute Punk Ltd. The AU recently made a new investment of $ 45.7 million Australian plant proteins (APP) is known. This strategic investment is designed to stimulate the growth of the vegetable market in Australia and allow APP to double the production of its vegetable protein isolates by March 2022.
To meet the gradually increasing demand for genetically modified vegetable proteins, APP will use the new funding to expand the capacity of its production facility, which only opened last year. Through these minority shares, Punk will acquire exclusive sales for APP in the United States and will have the opportunity to license APP’s proprietary processing technology outside of Australia.
“Securing investment and distribution agreements with a large multinational company such as Punk, with our current partnership with Scalcho Foods in Australia and New Zealand, is a testament to the need and continued growth for high-quality, plant-based protein options,” says Brendan McKean, co-founder and director of APP.
“By combining APP’s proprietary extraction technology with our application expertise and our global sales and distribution networks, we offer significant competitive advantage in bringing high quality vegetable protein to customers around the world,” said Caleb Belser, VP, Punk Protein Business.