Manufacture and Commercialisation of Plant Based Protein Ingredients
Project description and overview:
The plant-based meat category is expected to 10x over the next decade with explosive growth. However, the proteins used as key ingredients in this category today are currently all imported to Australia. The global supply is constrained with increasing lead times, cost and lack of innovation for this rapidly changing category. This poses a risk for the continued growth of Australian food brands and manufacturers in plant-based meats.
To address this growing category opportunity, a local supply chain needs to be developed in Australia that integrates both the R&D and manufacturing capability required to produce novel ingredients domestically.
Harvest B uses plant-based materials to manufacture novel textured ingredient systems specifically designed for use by creators of plant-based meats. With a dedicated focus on serving the plant-based meat category, Harvest B will use locally sourced ingredients from Australia and take a whole foods approach. With local R&D and utilizing advanced manufacturing technologies, Harvest B will produce plant-based meat ingredients that offer function, taste and nutrition far beyond what is available today.
On completion of this project, Harvest B will be the supplier of plant-based meat ingredients to food brands and manufacturers across Australia, offering sustainability, security in their supply chain and advanced ingredient capability.
- Increased spending on R&D
- Increased information and communication technology (ICT) intensity
- Increased collaboration with research institutions
- Increased collaboration with other manufacturers
- Increased number of staff with science, technology, engineering and maths (STEM) skills
- Increased levels of automation
- Better energy efficiency
- Higher product value density (by weight)
- Increased marketing spend
- Larger geographical reach
- Harvest B forecast $37.2M in revenue over the next five years.
This project is projected to create additional employment as follows:
- Quality Assurance Specialist
- Principal Scientist
- Two Food Scientists
- Two Research Associates
- Data Technologist
- Software Engineer
Government Funds: $1,000,000 | Industry: $1,955,191 | In-Kind: $170,000