Bunge is planning to spend approximately $550 million to build a fully integrated soy protein concentrate and textured soy protein concentrate facility adjacent to and integrated with its soybean processing plant in Morristown, Ind.
The new facility is expected to add significant scale, efficiencies, and non-GMO capability to the company’s existing conventional soy protein concentrate and textured soy protein concentrate operation in Bellevue, Ohio. The company plans to contract with farmers to establish a traceable soybean sourcing program starting with the 2025 harvest.
Construction is expected to start in the first quarter of this year, and the facility is projected to open in mid-2025. Once it is fully operational, the facility is expected to process approximately 4.5 million bushels of soybeans annually. It will create around 70 full-time jobs.
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“As the world’s largest oilseed processor, plant proteins are a natural extension of our industry-leading oils, fats, and specialty ingredient portfolio. This new facility is an important step in our long-term strategy to strengthen our capabilities in downstream higher value food ingredients,” says Greg Heckman, Bunge CEO.
The company also recently invested an additional $10 million to enhance its plant protein technical capabilities at the Creative Solutions Center near its St. Louis headquarters. In addition to its existing lipids and carbohydrates resources, the center now offers commercial pilot plants for alternative meat and dairy, processed meat, and beverages that complement its bakery and fry labs. It also features a sensory testing facility, an extrusion lab—with dry and high-moisture production—and a full-scale foodservice kitchen.
