Bunge broke ground in early July on its new fully-integrated soy protein concentrate (SPC) and textured soy protein concentrate (TSPC) facility in Morristown, Indiana.
The new $550 million facility will be built next to its existing soy production plant and will produce SPC for plant-based foods, processed meat, pet food and feed products.
According to Bunge, the new facility will process an additional 4.5 million bushels of soybeans when it opens in mid-2025. It will welcome an additional 70 employees to the 110 colleagues who currently work at the location.
First announced in December, the Morristown SPC and TSPC facility is expected to add significant scale, efficiencies and non-GMO capability to the company’s existing U.S.-based conventional SPC and TSPC operation in Bellevue, Ohio.
The company plans to contract with farmers to establish a traceable soybean sourcing program starting with the 2025 harvest.
“As the world’s largest oilseed processor, plant proteins are a natural extension of our industry leading oils, fats, and specialty ingredient portfolio," said Greg Heckman, Bunge CEO. "This new facility is an important step in our long-term strategy to strengthen our capabilities in downstream higher value food ingredients.”
Bunge also recently invested an additional $10 million to enhance its plant protein technical capabilities at the Creative Solutions Center near its St. Louis headquarters.