Key Takeaways
- Inghams Group Limited invests $1.05 million in Just Meat Protein (JMP), acquiring a 10% stake.
- JMP specializes in hydrolyzed poultry protein technology for various nutritional applications.
- Demand for alternative protein sources is growing, driven by population increases and consumer trends.
Investment in Innovation
Inghams Group Limited has made a significant investment of $1.05 million in Australian food technology company Just Meat Protein (JMP). This collaboration centers around JMP’s hydrolyzed poultry protein technology, developed by CSIRO, which JMP commercializes under an exclusive worldwide license. As part of this agreement, Inghams has acquired a 10 percent shareholding in JMP. Additionally, Caroline Hayes, Inghams’ chief growth officer, will join the JMP board, and Inghams has secured exclusive first right supply arrangements with JMP throughout Australia.
JMP employs a unique process that transforms chicken meat into powdered protein ingredients suitable for various applications, including sports nutrition and specialized nutrition products. The global sports nutrition market is currently valued at approximately $27 billion and is projected to grow substantially in the coming years. JMP’s technology also has potential applications in aged care and meal replacement products, as well as protein-fortified foods for specialized markets such as military and space needs.
Ed Alexander, CEO and managing director of Inghams, emphasized the strategic nature of this investment, describing it as “innovation-led” and aligned with the company’s goal of maximizing value from every bird processed. Alexander believes that this investment positions Inghams advantageously in a rapidly expanding market.
Ellie Whelan, CEO and co-founder of Just Meat Protein, highlighted the driving forces behind the increasing demand for alternative protein solutions. Factors such as a growing population, the rise of GLP-1 use for weight management, and the shift towards more conscious consumerism are all contributing to this trend. Whelan expressed that addressing these demands through the utilization of low-value cuts presents both a significant commercial opportunity and a step toward a more sustainable food system.
Whelan’s enthusiasm for the partnership is evident as she stated, “We’re excited to take this world-first technology to market with the support of our seed investors, including Inghams Group.” This collaboration reflects a shared commitment to innovation and sustainability in the food industry, paving the way for future advancements in protein sourcing and nutritional products.
The content above is a summary. For more details, see the source article.