Nepra Foods of Colorado announces that its meat products made with its proprietary textured hemp protein (THP™) are now available to be purchased by restaurant chains, institutions, and private retailers.
Nepra Foods plans to produce pasta, frozen meals, plant-based meat and dairy alternatives, snacks, spreads and baking mixes. The hemp-based meat CPGs will be the company’s first output created by its specialized equipment which it says can produce 800,000 lbs./year of the THP for the plant-based meat analogs.
The company was listed on Canadian Securities Exchange last September, raising $7.5 million at an offering price of $0.47 CAD, and became listed on the Frankfurt Stock Exchange concurrently, before floating on the US market last November. In February of this year, Nepra announced the full operation of its first dedicated extrusion line, projecting a revenue increase of $3.5 million.
According to Nepra’s corporate presentation, the company is projecting $32.2 million in revenues by 2024.
“Customers will be amazed by the authentic tastes and textures of our new lineup of allergen-free plant-based meat analogs. We are convinced that the nutritional and environmental advantages of hemp protein will revolutionize the food industry and proud that Nepra is taking a leading role in bringing healthy and sustainable options to restaurants,” said Chadwick White, Co-Founder and Chief Innovation Officer of Nepra Foods.