Phyto Organix Foods Inc. is pleased to announce that it has executed a letter of intent to purchase 15 acres of land in the Town of Strathmore, Alberta from the Western Irrigation District as the location of its new, state-of-the-art, net zero emission plant protein processing facility.
The $225 million facility will be the largest-ever capital investment in Strathmore and provide a base for Phyto Organix to innovate and grow its plant protein business. When operational in 2024, Phyto Organix will use proprietary wet fractionation technology to annually process 40,000 metric tonnes of yellow peas, grown in close proximity to the facility, into soluble and insoluble protein isolates, processed fibre and starch, and high-quality dietary pea hull fibre.
"This is an exciting time to be an Albertan," said Chris Theal, Founder, President and CEO of Phyto Organix. "Our $225 million investment will generate over $120 million of annual GDP, employ 80 Albertans and yield tangible economic diversification in the Town of Strathmore and the Province of Alberta. Our team has designed a net zero facility to produce food products that embody our core values of health, wellness and sustainability. We are energized to lead the plant protein industry in Alberta."
As part of the new facility, Phyto Organix received $1 million over two years, cost-shared by the federal and provincial governments through the Canadian Agricultural Partnership, to support engineering costs and the purchase of equipment.
"Alberta's food processing sector is a key driver of our economy, and consumer demand for Canada's responsibly produced plant-based protein is rising worldwide," said the Honourable Marie-Claude Bibeau, federal Minister of Agriculture and Agri-Food. "This investment in Phyto Organix's new, net-zero facility supports local growers, protects the environment and increases our capacity to meet global demand for our high-quality, sustainable food."
"Plant-based protein is an emerging sub-sector with significant potential for growth and diversification of the agri-processing industry in Alberta. With demand for high-quality plant-based products increasing dramatically in recent years, Alberta's government is pleased to support companies like Phyto Organix that will work with local producers, create jobs, and help grow Alberta's economy." Nate Horner, Minister of Agriculture, Forestry and Rural Economic Development
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