ICL Announces Follow-On Investment in Plantible Foods and Celebrates Industry Recognition for Innovative Food Ingredient
ICL has announced a follow-on investment in Plantible Foods through participation in their Series B funding round, building upon their initial Series A investment. The partnership recently launched Rovitaris Binding Solution powered by Rubi Protein, which won the Ingredient Idol award at SupplySide West conference in November 2024.
The collaboration aims to advance sustainable food solutions, with ICL Food Specialties anticipating increased demand for Rovitaris Binding Solution in 2025. This development aligns with the growing clean label ingredients market, which is valued at $53 billion in 2024 and projected to reach $99 billion by 2034, with a CAGR of 6.4%.
ICL ha annunciato un investimento aggiuntivo in Plantible Foods attraverso la partecipazione al loro round di finanziamento Series B, basandosi sul loro iniziale investimento Series A. La partnership ha recentemente lanciato il Rovitaris Binding Solution alimentato da Rubi Protein, che ha vinto il Ingredient Idol award durante la conferenza SupplySide West nel novembre 2024.
La collaborazione mira a promuovere soluzioni alimentari sostenibili, con ICL Food Specialties che prevede un aumento della domanda per il Rovitaris Binding Solution nel 2025. Questo sviluppo è in linea con l'aumento del mercato degli ingredienti a etichetta pulita, che vale 53 miliardi di dollari nel 2024 e si prevede raggiunga i 99 miliardi di dollari entro il 2034, con un CAGR del 6,4%.
ICL ha anunciado una inversión adicional en Plantible Foods a través de su participación en la ronda de financiación Series B, construyendo sobre su inversión inicial en la Series A. La asociación lanzó recientemente el Rovitaris Binding Solution impulsado por Rubi Protein, que ganó el Ingredient Idol award en la conferencia SupplySide West en noviembre de 2024.
La colaboración tiene como objetivo avanzar en soluciones alimentarias sostenibles, con ICL Food Specialties previniendo un aumento en la demanda del Rovitaris Binding Solution en 2025. Este desarrollo se alinea con el creciente mercado de ingredientes de etiqueta limpia, que se valora en 53 mil millones de dólares en 2024 y se proyecta que alcanzará los 99 mil millones para 2034, con una tasa compuesta de crecimiento anual del 6,4%.
ICL은 Plantible Foods에 대한 후속 투자를 발표하고 Series A 투자에 이어 Series B 자금 조달에 참여하게 되었습니다. 이 파트너십은 최근 Rovitaris Binding Solution powered by Rubi Protein을 출시했으며, 이는 2024년 11월 SupplySide West 컨퍼런스에서 Ingredient Idol award를 수상했습니다.
이 협력은 지속 가능한 식품 솔루션을 발전시키기 위한 것으로, ICL Food Specialties는 2025년 Rovitaris Binding Solution의 수요 증가를 예상하고 있습니다. 이 개발은 2024년 530억 달러 규모로 평가되는 클린 레이블 재료 시장이 2034년까지 990억 달러에 이를 것으로 예상되며, 연평균 성장률은 6.4%에 해당합니다.
ICL a annoncé un investissement complémentaire dans Plantible Foods par le biais de sa participation à leur série de financement B, s'appuyant sur leur investissement initial dans la série A. Le partenariat a récemment lancé la Rovitaris Binding Solution alimentée par Rubi Protein, qui a remporté le Ingredient Idol award lors de la conférence SupplySide West en novembre 2024.
La collaboration vise à faire avancer des solutions alimentaires durables, avec ICL Food Specialties anticipant une augmentation de la demande pour la Rovitaris Binding Solution en 2025. Ce développement s'inscrit dans le marché croissant des ingrédients à étiquette propre, qui est évalué à 53 milliards de dollars en 2024 et devrait atteindre 99 milliards de dollars d'ici 2034, avec un TCAC de 6,4%.
ICL hat eine nachfolgende Investition in Plantible Foods durch die Teilnahme an ihrer Series B Finanzierungsrunde angekündigt, basierend auf ihrer ursprünglichen Series A Investition. Die Partnerschaft hat kürzlich die Rovitaris Binding Solution powered by Rubi Protein eingeführt, die auf der SupplySide West-Konferenz im November 2024 den Ingredient Idol award gewonnen hat.
Die Zusammenarbeit zielt darauf ab, nachhaltige Lebensmittel-Lösungen voranzutreiben, wobei ICL Food Specialties einen Anstieg der Nachfrage nach der Rovitaris Binding Solution im Jahr 2025 prognostiziert. Diese Entwicklung steht im Einklang mit dem wachsenden Markt für Zutaten mit sauberem Label, der 2024 auf 53 Milliarden Dollar geschätzt wird und auf 99 Milliarden Dollar bis 2034 ansteigen soll, mit einer jährlichen Wachstumsrate von 6,4%.
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Partnership received Ingredient Idol award at SupplySide West 2024
In October of 2023, ICL Food Specialties, in collaboration with Plantible Foods, launched Rovitaris Binding Solution powered by Rubi Protein. This innovative ingredient was honored with the Ingredient Idol award at the SupplySide West (SSW) conference in November 2024 and recognized as the most innovative food ingredient of the year.
"Our continued investment in Plantible Foods underscores our commitment to advancing sustainable and innovative solutions in the food industry,” said Hadar Sutovsky, vice president of Corporate Investments at ICL. “We are excited to support Plantible's growth and the development of their groundbreaking plant-based proteins."
"Receiving the Ingredient Idol award for Rovitaris is a testament to our dedication to delivering cutting-edge, clean-label solutions that meet the evolving demands of consumers seeking healthier and more sustainable food options," said Rado Sporka, vice president of Food Specialties at ICL. “ICL Food Specialties anticipates increasing demand for Rovitaris Binding Solution in 2025, driven by the growing consumer trend toward clean-label and sustainable food ingredients”.
"Our partnership with ICL is instrumental in bringing Rubi Protein to market,” said Tony Martens Fekini, CEO of Plantible Foods. “The recognition at SSW highlights the potential of our collaboration to transform the food industry with sustainable and functional ingredients."
According to Global Market Research, the global clean label ingredients market is experiencing robust growth, driven by increasing consumer demand for transparency and natural products. In 2024, the market was valued at approximately
ICL Group's investment in Plantible Foods, and the development of innovative ingredients like Rovitaris Binding Solution, aligns with these market trends and helps position the company to meet the evolving demands of consumers and capitalize on new market opportunities.
About ICL
ICL Group 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 12,000 people worldwide, and its 2023 revenues totaled approximately
For more information, visit ICL's website at icl-group.com.
To access ICL's interactive CSR report, visit icl-group-sustainability.com.
You can also learn more about ICL on Facebook, LinkedIn, YouTube, X and Instagram.
About Plantible Foods
Plantible Foods is a business-to-business food technology company with the goal of developing the most functional and applicable plant-based protein in the world by harnessing Lemna: one of the most sustainable and nutrient-dense plants in the world.
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, and war or acts of terror and/or political, economic and military instability in
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Investor and Press Contact – Global
Peggy Reilly Tharp
VP, Global Investor Relations
+1-314-983-7665
Peggy.ReillyTharp@icl-group.com
Investor and Press Contact -
Adi Bajayo
ICL Spokesperson
+972-3-6844459
Adi.Bajayo@icl-group.com
Source: ICL Group LTD
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