INGREDION LEADS SERIES B FUNDING FOR CLARA FOODS AND CONTINUES EXPANDING ITS PROTEIN PORTFOLIO
Investors: Heather Kos, 708-551-2592
Media: Becca Hary, 708-551-2602
INGREDION LEADS SERIES B FUNDING FOR CLARA FOODS
AND CONTINUES EXPANDING ITS PROTEIN PORTFOLIO
Novel fermentation technology from Clara Foods produces animal-free protein replacements from yeast
WESTCHESTER, Ill., April 25, 2019 - Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions, today announced it is leading the Series B funding round in Clara Foods, a San Francisco-based biotech startup. Under the terms of the agreement, Ingredion will partner with Clara Foods to globally distribute and market multiple proteins derived from yeast that are traditionally found in eggs. These products will augment Ingredion's portfolio to include highly functional proteins that will produce food and beverages with higher levels of protein and unique characteristics without the inclusion of animal-derived inputs.
"This latest investment will further drive our growth strategy, expand our portfolio of protein solutions and introduce novel ingredients to consumers who are looking for sustainable, animal-free and healthy alternatives," said Jim Zallie, Ingredion's president and chief executive officer.
Clara Foods' proprietary microbial fermentation technology aims to reduce the production and environmental costs of animal proteins. "We are thrilled to partner with Ingredion to bring these first ingredients to market and redefine how the world produces animal protein at scale," said Arturo Elizondo, Founder and CEO of Clara Foods. "Their global reach across 120 countries and their applications expertise will dramatically expand Clara's ability to disrupt the protein market as the world's leading animal-free, animal protein ingredient manufacturer."
"We're excited to work with Clara Foods. They have pioneered groundbreaking technology that allows for a cost-effective method of producing animal-free proteins with unique and highly functional properties," said Tony DeLio, Ingredion's senior vice president corporate strategy and chief innovation officer. "We recognize that animal-free protein is emerging as a trend and we want to offer a full range of solutions that best meet our customers' needs."
This latest move complements Ingredion's recent $140 million investment to expand its portfolio of plant-based proteins, including pulse flours, concentrates and isolates.
ABOUT THE COMPANY
Ingredion Incorporated (NYSE: INGR) headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With annual net sales of nearly $6 billion, the company turns grains, fruits, vegetables and other plant materials into value-added ingredients and biomaterial solutions for the food, beverage, paper and corrugating, brewing and other industries. With Ingredion Idea Labs® innovation centres around the world and more than 11,000 employees, the Company develops ingredient solutions to meet consumers' evolving needs by making crackers crunchy, yogurt creamy, candy sweet, paper stronger, and adding fiber to nutrition bars. For more information, visit Ingredion.com.