After securing a significant influx of funding, pea protein manufacturer Puris is broadening its product range and market presence. A year ago, Cargill invested an additional $75 million in Puris, raising its total investment in the company to over $100 million. This new capital will more than double the production of pea protein with the opening of a second production facility, a 200,000-square-foot plant located in Dawson, Minnesota. Tyler Lorenzen, the CEO of Puris, mentioned that the company is set to launch the plant in the second quarter of next year, despite challenges posed by the pandemic. He emphasized that the new facility will expand the number of domestic pea farmers they can collaborate with and enable the creation of more plant-based products to meet the increasing demand.
“We will be the only dual manufacturer of pea protein and the largest producer in North America, which is a significant achievement,” Lorenzen stated. As the company enhances its manufacturing capabilities, it is also expanding its product offerings this year. Puris is introducing a pea protein with sodium levels 15 times lower than the industry standard, along with a sweet lupin flour that is suitable for keto products due to its high protein and fiber content while being low in carbohydrates. The company also plans to debut a pea syrup in the fourth quarter.
“We’re thrilled about the product innovations we’re implementing, particularly regarding utilizing all parts of the pea. There is much more to come from Puris in this area over the next 18 months,” Lorenzen noted. When considering new innovations, the company often asks, “How can we produce plant-based proteins that meet the nutritional needs of consumers?” This year, the answer lies in maximizing the use of peas.
Regarding plant-based meat, Lorenzen pointed out that consumers are increasingly concerned about sodium levels in alternative burgers. According to Business Insider, plant-based burgers typically contain significantly more salt than traditional options. For instance, Beyond Burgers have 380mg of sodium, which represents 16% of the recommended daily limit. Lorenzen mentioned that Puris’ pea protein already contains 50% less sodium than most competitors, and their latest low-sodium textured pea protein for applications like burgers reduces sodium levels even further, making it 15 times lower than that of competitors. “Consider 400 to 350mg as the standard sodium content per burger. We can halve that using our ingredients. We view this as a major advancement in aligning the nutritional needs of consumers with our ingredient offerings,” he explained.
Regarding the new sweet lupin flour, Lorenzen revealed that it was developed in response to the keto trend. The growing popularity of this diet, which emphasizes plant-based meat, encouraged Puris to explore incorporating plant-based keto solutions into other low-carb products. He highlighted that lupin is a unique ingredient because it is a pulse that lacks starch, making it high in protein and fiber while being low in fat. The company is currently accepting orders for the flour while exploring various applications for it.
Throughout the pandemic, there was a surge in baking as shoppers were confined to their homes, leading many to turn to alternative flours when traditional options were unavailable. Puris is promoting the new sweet lupin flour as a keto-friendly “1:1 substitute for other flours,” offering a nutty, sweet flavor while providing a healthier addition to baked goods. Both the sweet lupin flour and the low-sodium textured pea protein are expected to be shipped to customers by the end of this year or early 2021.
Looking ahead, Puris is actively scaling up its operations for pea syrup, slated for release in the fourth quarter. The company has begun sharing samples of the syrup, which Lorenzen claims is comparable to other syrups on the market but avoids some criticisms faced by corn syrups regarding non-GMO status and has advantages over alternatives like tapioca and rice syrups. “We believe peas have a significant edge over these options,” he stated. “Peas are the most sustainable crop available. They are nitrogen fixators, enhancing soil health, promoting biodiversity, and benefiting our soil, climate, and waterways here in the U.S.”
Experts have noted that pea protein can be produced more sustainably than other ingredients such as soy and corn. Lorenzen expressed that Puris aims to leverage more organic crops in the future, highlighting that the organic food market is worth $50 billion, yet only 1% of U.S. farmland is farmed organically. “How do we tackle this issue? By creating more value for organic farmers, encouraging them to convert more of their land to organic farming. We can achieve this by utilizing the entire pea, as they are all organic,” he said.
From plant-based meat to milk, Lorenzen pointed out that pea proteins have seen double-digit growth for some time. However, when the company launched its first pea protein product in 2014, the category was still in its infancy and remains “quite fragmented in terms of quality from supplier to supplier.” Lorenzen noted that Puris, founded in 1985 in Iowa by his father, a plant breeder, has always focused on creating its ingredients through proprietary processes in genetics and breeding aimed at human consumption.
Pea protein has gained traction in the food industry as companies increasingly pivot toward plant-based options. The global pea protein market is projected to reach $385.7 million by 2027, according to Grand View Research. Puris is a key supplier of pea protein to Beyond Meat, which utilizes the legume in its burgers. “We serve as a crucial link between the various plant-based food companies in the market and the farmers who grow the crops, truly being the engine driving this sector,” he added.
While more ingredient manufacturers are entering the pea protein arena, Lorenzen believes Puris distinguishes itself by being fully committed to plant-based products as its core business. “I believe our success and our value as a partner stem from not just providing protein but truly understanding its application and the significance of plant-based nutrition on a global scale. We focus on proving our impact in large volumes with utmost transparency,” he stated.
Puris initiated production at its new facility last year, but it is not the only company expanding its operations. Roquette plans to inaugurate a large facility in Canada by the end of the year, and ADM has opened a plant in North Dakota. Lorenzen emphasized that keeping all production domestic in the U.S. sets Puris apart from competitors, as a local approach to food manufacturing enhances sustainability and accessibility.
In addition to the $75 million investment secured last year, the company raised an extra $25 million in March, which it stated came from existing members of the Cargill joint venture. When asked about future funding prospects, Lorenzen stated that it is not currently a priority. “Our primary focus is on serving our customers and maintaining a balanced business that prioritizes our people, generates profit, and cares for the planet,” he concluded.