A company that is working with Hershey Co. to develop sugar alternatives will invest $27.7 million in an expansion in Albemarle County, Va.
Bonumose Inc. is a startup that specializes in sugar alternatives. Hershey has partnered with sugar processor ASR Group in an equity investment in Bonumose.
The investment in Bonumose will fund its development of high-purity rare sugars, including tagatose and allulose, from plant-based starches. These products have fewer calories than traditional sugars and a negligible glycemic index impact, while tasting closer to sugar than most other alternatives.
As part of this investment, Bonumose will move into a 36,000-sq.-ft. building to expand production capabilities and relocate its existing research and development lab. The project will add 64 new jobs.
The investment is part of Hershey's C7 Ventures, which enables new avenues for growth through capital investments in new technologies. This investment enables a research and development partnership to advance Hershey's broader better-for-you products.