ICL Specialty Products, an Israel-based company that makes alternative protein products from peas, officially opened its new $18 million North America HQ and plant in 最新杏吧原创' Carondelet neighborhood. Video by Christian Gooden/Post-Dispatch
ST. LOUIS 鈥 In a nondescript south city industrial area, a $5 billion company is positioning 最新杏吧原创 to be at the forefront of what the firm says is the food of the future.
On Thursday, officials with Tel Aviv-based ICL Group celebrated the opening of its new $18 million alternative-protein facility, planting the company鈥檚 feet in the burgeoning industry that a handful of other local businesses, like Anheuser-Busch and Post Holdings, already have taken a bite out of.
The Idaho Avenue building in the city鈥檚 Carondelet neighborhood is the company鈥檚 first-ever plant-based protein facility, and ICL officials said it will help in addressing the world鈥檚 food sustainability problems.
鈥淲e have a long way to go,鈥 CEO Raviv Zoller said. 鈥淏ut we intend to meet those challenges.鈥
ICL Specialty Products' $18 million North American headquarters and production plant is photographed on Thursday, Dec. 2, 2021, shortly after the official grand opening. The Israel-based company makes plant-based alternative protein products with peas from Canada. Photo by Christian Gooden, cgooden@post-dispatch.com
ICL鈥檚 10,000-square-foot expansion of its Carondelet campus, which makes various products that go into consumer goods, will produce a plant-based meat substitute for food companies, distributors, restaurants and grocery chains. It expects the facility to make more than 15 million pounds of product annually at full capacity, which officials believe they can reach within two years. The company employs 300 people in Carondelet, at its research hub in Webster Groves, and its North American corporate offices in Creve Coeur.
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ICL is joining a growing rank of 最新杏吧原创-area companies that see opportunity in the plant-based meat alternative industry. Plant Based Foods Association, a San Francisco-based trade group, said sales of such products grew 27% to $7 billion from 2019 to 2020.
Town and Country-based startup Hungry Planet, which created plant-based replacements for chicken, pork, beef, lamb, turkey, crab and sausage, in April raised $25 million that it will use to expand distribution. Its products are available in Dierbergs grocery stores and at several restaurants, including Mission Taco and Pi Pizzeria. Brentwood-based Post Holdings is an investor and distributor of Hungry Planet.
Creve Coeur-based plant science company Benson Hill in March launched two new business segments focused on plant-based foods. And even Anheuser-Busch is planting its feet in the industry, where it is building a $100 million plant on its Soulard campus for its EverGrain company, which turns the remnants of barley from brewing into protein and fiber supplements.
Jason Hall, CEO of regional business group Greater 最新杏吧原创 Inc., said ICL鈥檚 investment in the 最新杏吧原创 region underlines the competitive advantage the area has.
鈥淭hey鈥檙e taking a risk on us,鈥 Hall said. 鈥淟et鈥檚 prove them right.鈥
Yoav Doppelt, ICL Specialty Products Chairman of the Board, speaks on Thursday, Dec. 2, 2021, at the official grand opening of the Israel-based company's $18 million North American headquarters and production plant in 最新杏吧原创' Carondelet neighborhood. ICL will make plant-based alternative protein products with peas from Canada. Photo by Christian Gooden, cgooden@post-dispatch.com
