CANADA- Protein Industries Canada has announced a significant investment of CAD 13.2 million (approximately US$9.7 million) into advancing research on Canadian fava beans.
The investment, a co-investment with industry partners Prairie Fava, DL Seeds, and Three Farmers, aims to test the functionality of new fava bean varieties for use in consumer-facing products, particularly snack foods.
Of the total investment, Protein Industries Canada is contributing CAD 5.4 million (approximately US$4 million), with the remaining funds provided by the industry partners.
The project is designed to strengthen the supply of fava beans in the Canadian market and address the growing demand for sustainable protein sources.
Prairie Fava, in collaboration with DL Seeds, will be growing and testing new fava bean varieties using patented processing methods. The results of these tests will inform the development of new fava bean varieties by DL Seeds.
Subsequently, agri-food ingredients companies will supply fava ingredients to snack brand Three Farmers for functionality testing in their product line.
Bill Greuel, CEO of Protein Industries Canada, emphasized the importance of a collaborative approach in strengthening the fava bean supply chain and market in Canada.
“Prairie Fava, DL Seeds, and Three Farmers have taken a full value chain approach to strengthening the fava bean supply chain and market in Canada – an approach that’s needed if we’re going to make Canada truly competitive in the global plant protein space,” Greuel stated.
He further highlighted the potential of collaboration across the ecosystem to capitalize on the growing global protein opportunity while offering consumers a variety of healthy, high-protein snack options.
The investment will enable each company to scale its product offerings and operations, contributing to the growth and sustainability of the fava bean industry in Canada. Notably, Three Farmers will benefit from the investment by expanding its operations, including at its recently opened facility in Saskatoon.
The commitment from Protein Industries Canada underscores the organization’s dedication to fostering innovation and collaboration within the Canadian agriculture and food industry, particularly in the development of sustainable protein sources.
In other news, Protein Industries Canada recently allocated C$7.3 million (US$5.4 million) as part of a larger investment totaling C$19.2 million (US$14.2 million) in a pioneering project to develop novel ingredient solutions, particularly focusing on allergen-friendly alternatives.
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