Archer Daniels Midland is making a big bet on plant-based meat analogues with a $300 million expansion of its alternative protein plant in Decatur, Ill.
The expansion, scheduled for completion in early 2025, will increase the facility’s production capacity for soy protein concentrate and double its extrusion capacity. In addition, ADM will open a new Protein Innovation Center in Decatur, an expansion of existing research facilities.
Last year, ADM acquired Sojaprotein, a European provider of alternative protein. ADM estimates that between the two investments, its global alternative protein production capacity will increase by more than 30%.
“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,” Leticia Gonçalves, ADM’s president of Global Foods, said in a statement.
