ICL Opens New Alternative-Protein Facility in St. Louis

Rhea-AI Summary

ICL (NYSE: ICL) has opened a new alternative-protein facility in St. Louis, specifically designed to meet the increasing demand for plant-based meat substitutes. This investment enhances ICL's global Food Specialties portfolio and aims to produce over 15 million pounds of product annually. The facility will transform plant protein into meat-like fibers, focusing on sustainability and innovation in the food industry. With over 75 years of experience, ICL is committed to delivering cleaner, allergen-free, and nutritious food options.

Positive

• New production facility in St. Louis enhances ICL's Food Specialties portfolio.
• Expected production of over 15 million pounds of plant-based products annually.
• Focus on sustainable and healthier food alternatives aligns with market demand.

Negative

• None.

Plant will help meet growing consumer demand for healthier and more sustainable food choices

ST. LOUIS--(BUSINESS WIRE)-- ICL (NYSE: ICL) (TASE: ICL), a leading global specialty-minerals company, today opened its latest production facility in St. Louis. The company’s new alternative-protein facility will produce a plant-based meat substitute for use by food companies, food-service distributors, restaurants and grocery chains. The significant investment represents an expansion of ICL’s global Food Specialties portfolio and the company’s focus on developing healthier and more sustainable food products.

The new 10,000-square-foot facility was constructed on ICL’s 19-acre production campus in St. Louis. At full capacity the plant is expected to produce more than 15 million pounds of product each year.

“This new facility will help meet the growing demand for innovative plant-based foods and meat alternatives – especially ones that deliver an eating experience similar to that of conventional meat products,” said Chris Millington, EVP of Food and Phosphate Specialty Products for ICL. “Food manufacturers are looking for meatless options that will offer sustainable, functional and nutritional value in the meat-alternative category, and we’re proud to provide them with a solution.”

The new ICL facility will transform plant protein into fibers that have a meat-like texture and can be used in a wide variety of food applications to replace meat, poultry or seafood. The fibers are notable for their clean flavor, natural texture and formulation versatility. The resulting finished product is all-vegan, allergen-free, kosher- and halal-certified, and non-GMO.

“From health issues to environmental and sustainability concerns, there are many reasons for the trending movement toward more sustainable lifestyle and diet choices,” said Paul Petersen, global alternative proteins leader for ICL Food Specialties. “Our team at ICL Food Specialties is committed to keeping up with these trends and innovating in areas beyond traditional meat alternatives.”

ICL’s Food Specialties business brings more than 75 years of experience to the food industry. The company, which is headquartered in Tel Aviv, has offices and facilities across the St. Louis region and around the globe. ICL employs nearly 800 people in the U.S., more than 300 of whom work in St. Louis at the company’s corporate offices in Creve Coeur, Missouri; the research and innovation hub in Webster Groves, Missouri; and the production campus in Carondelet, Missouri. With the opening of the new alternative-protein plant, ICL has reaffirmed its long-term commitment to St. Louis as its U.S. headquarters.

“This is an exceptional investment in our region’s growing food and agtech sector and it highlights our increasing strength innovating to shape the future of the industry, including plant-based proteins,” said Jason Hall, CEO of Greater St. Louis, Inc. “With this investment and expansion in St. Louis from a global firm, ICL is demonstrating continued confidence in the St. Louis metro and showing why we are the strategic location of choice for innovators defining the next chapter of food and agriculture.”

About ICL

ICL Group is a leading global specialty minerals company, which also benefits from commodity upside. The company creates impactful solutions for humanity's sustainability challenges in global food, agriculture, and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its passionate team of talented employees, and its strong focus on R&D and technological innovation to drive growth across its end markets. ICL shares are dually 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 2020 revenues totaled approximately $5.0 billion.

For more information, visit ICL's website at www.icl-group.com.
To access ICL's interactive Corporate Social Responsibility report, please click here.
You can also learn more about ICL on Facebook, LinkedIn and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211202005149/en/

Investor Relations Contacts

Peggy Reilly Tharp

VP, Global Investor Relations

+1-314-983-7665

Peggy.ReillyTharp@icl-group.com

Dudi Musler

Director, Investor Relations

+972-3-684-4448

Dudi.Musler@icl-group.com

Press Contact

Patrick Barry

BYRNE PR

+1-314-540-3865

patrick@byrnepr.net

Source: ICL Group LTD

FAQ

What is the significance of ICL's new facility in St. Louis?

The new facility expands ICL's Food Specialties portfolio, producing plant-based meat substitutes to meet growing consumer demand.

How much product will ICL's St. Louis facility produce?

ICL's new facility is expected to produce over 15 million pounds of plant-based products annually.

What type of products will be produced at ICL's new facility?

The facility will produce plant-based meat substitutes, focusing on sustainability and functional value.

What is ICL's focus in developing new food products?

ICL aims to create healthier and more sustainable food options that mimic the taste and experience of conventional meat.