Israel Chemicals (TASE: ICL: NYSE: ICL) announced today that it is expanding its manufacturing capacity and R&D support capabilities for its ROVITARIS alternative protein technology for the meat alternatives market.
With overall annual sales of $600 million, Israel Chemicals, among other things, develops and provides value added, innovative food ingredient solutions for customers around the world. The company's position in the food functional ingredients market leverages its global network of manufacturing and R&D facilities, as well as its backward integration to phosphates.
ROVITARIS is a proprietary technology developed by Israel Chemicals, which supports the production of allergen free plant-based food. The product has good formability and can be adapted to virtually any meat, poultry or seafood substitute application to significantly improve taste and texture. ROVITARIS also has good freeze and thaw stability, which results in reduced costs for food manufacturers.
One of the key advantages of ROVITARIS technology is its flexible use in conjunction with a broad variety of vegetable protein sources. Israel Chemicals continues to develop new protein sources and to differentiate its offerings for its customers. Upcoming launches and line expansions include textured vegetable crumbles, which will augment Israel Chemicals existing offerings of pulse-based (pea and faba) proteins.
Israel Chemicals Phosphate Solutions president Ofer Lifshitz said, "Responsive adaptability is our key to serving ICL’s customers. As a market leading technology, ROVITARIS enables manufacturers to create the products that consumers demand while expanding their product development to include new exciting applications."
Published by Globes, Israel business news - en.globes.co.il - on October 15, 2019
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