Bunge invests $550 million to build new soy protein facility
The facility will produce soy protein concentrates and textured soy protein concentrates.
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Bunge (St. Louis) is investing $550 million to build a new facility for soy protein concentrates (SPC) and textured soy protein concentrates (TSPC). The company expects construction to begin in Q1 2023 and to be completed in mid-2025.
The site neighbors Bunge’s existing soybean processing plant in Morristown, IN, and will help the company process an additional 4.5 million bushels of soybeans to meet demand for plant-based foods, processed meat, pet food, and feed.
The company’s press release states, “The new facility is expected to add significant scale, efficiencies, and non-GMO capability to the company’s existing U.S.-based conventional SPC and TSPC operation in Bellevue, OH. The company plans to contract with farmers to establish a traceable soybean sourcing program starting with the 2025 harvest.”
In addition, Bunge has invested another $10 million “to enhance its plant protein technical capabilities at the Creative Solutions Center near its St. Louis headquarters.” With this funding, the site will add a commercial pilot plant to develop alternative meat and dairy, processed meat, and beverage products.
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