Beyond Meat’s Protein Supplier Puris Receives Additional $25 Million From Undisclosed Investor

©PURIS

As we reported last summer, global agriculture corp Cargill invested $75 million in PURIS, the largest North American producer of pea protein and key supplier to Beyond Meat. It was recently revealed that Puris has just received an additional $25 million which apparently has come from an undisclosed source.

Puris
©PURIS

According to Twin Cities Business, Puris officials have declined to respond to requests for comment. The company, whose CEO is former NFL player Tyler Lorenzen, said at the point of the Cargill investment that it planned to use the funds to double production of pea protein at a facility in  Minnesota.

In addition to the continuingly increasing supply of pea protein for the alternative protein industry, Puris also developed a vegan alternative to animal-derived gelatine which uses pea starch. The new plant-based product is capable to replace both gelatine and pectin in gummy sweets.

Beyond Meat revealed its financial report earlier this month, predicting net revenues in the range of $490 million to $510 million, an increase of 64% to 71% from 2019 to 2020.