ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, today announced ICL Food Specialties has joined forces with Protera Biosciences, an AI-driven foodTech start-up and designer of novel proteins, which are used to develop sustainable, highly functional protein-based ingredients for food manufacturers. The partnership follows ICL’s 2021 investment in Protera via ICL Planet Startup Hub, which is the vehicle ICL uses to invest in and collaborate with innovative companies in foodTech and agriTech on a global basis.
Through this partnership, ICL and Protera will develop and commercialize sustainable protein-based ingredients using precision fermentation. These clean-label ingredients will address current market demands and offer a replacement for chemical additives or less appealing ingredients. They will also improve the sensory properties in plant-based food applications, while positively impacting the world’s food security challenges.
Protera is creating impact through madiTM, a deep-learning platform, which can predict and match the structure and functionality of vegetable proteins. It designs proteins from a database of more than 1.5 billion edible protein sequences and applies precise fermentation parameters for producing them. The results address consumer demand for a short list of simple ingredients on food labels.
The new platform also enables the discovery of untapped plant-based proteins with high performance. These new ingredients can replace texturizers, stabilizers, preservatives and more, all based on plant proteins. The streamlining of plant protein development and production makes replacement of animal proteins much easier, thereby helping to further reduce pollutants such as methane and carbon dioxide.
“Thanks to this collaboration, we can offer novel ingredients via breakthrough technology currently not available in the market,” says Hadar Sutovsky, ICL vice president of External Innovation and general manager of ICL Planet. “Once these functional ingredients are launched, food manufacturers will be able to speed up development of clean-label and sustainable plant-based products.”
“We’ll soon be able to provide global market access to these ingredients for key food producers, in a sustainable manner,” says Rado Sporka, vice president of the Food Specialties Commercial Business for ICL. “This will further diversify and strengthen ICL’s engagement and offerings in the alternative proteins space and accelerate impactful solutions for global environmental challenges.”
“We are excited about this collaboration with ICL Food Specialties to bring new proteins to market,” adds Leonardo Alvarez, founder and CEO of Protera. “Combining the forces of our two companies will dramatically accelerate our vision of using biology to create protein-based ingredients. We already are validating functional targets in the lab, with unprecedented speed and accuracy.”
The research teams for the two companies are actively working on the development of these innovative protein-based ingredients and, through this partnership, will be able to scale up production once the ingredients are ready for commercialization.
ICL Group Ltd. is a leading global specialty minerals company, which creates impactful solutions for humanity’s sustainability challenges in the food, agriculture and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its global professional workforce, and its sustainability focused R&D and technological innovation capabilities, to drive the company’s growth across its end markets. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,500 people worldwide, and its 2021 revenues totaled approximately $7 billion.
About Protera Biosciences
Protera Biosciences is advancing the science of protein engineering to address some of the most critical problems and opportunities in food, agriculture, environment, and human wellbeing. The company streamlines protein design and development with madi™, its proprietary deep-learning algorithm, to predict effective high-value protein products and enzymes with unprecedented speed and accuracy. Visit http://proterabio.com for more information.
Forward Looking Statements
This announcement contains statements that constitute forward looking statements, many of which can be identified by the use of forward looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “estimate” and “potential,” among others.
Forward-looking statements appear in this press release and include, but are not limited to, statements regarding the company’s intent, belief or current expectations. Forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to: estimates, forecasts and statements as to management’s expectations with respect to, among other things, business and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, positioning, objectives and expectations, general economic, market and business conditions, supply chain and logistics disruptions, energy storage and electric vehicle growth, the potential for new COVID-19 variants, global unrest and conflict, governmental and regulatory requirements and actions by governmental authorities, including changes in government policy, changes in environmental, tax and other laws or regulations and the interpretation thereof. As a result of the foregoing, readers should not place undue reliance on the forward‐looking statements contained in this press release concerning the timing of the transaction, or other more specific risks and uncertainties facing ICL, such as those set forth in the “Risk Factors” section of its Annual Report on Form 20-F filed on February 23, 2022, as such risk factors may be updated from time to time in its Current Reports on Form 6-K and other filings ICL makes with the U.S. Securities and Exchange Commission from time to time.
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