Swedish agri-food business Lantmännen has invested Skr1.2bn ($116.4m) to build a new factory for plant-based proteins.
The facility, based in Lidköping, will mainly produce plant-based proteins from peas but will also use fava beans as raw materials.
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Around 35,000 tonnes of peas and 5,000 tonnes of fava beans will be processed each year in the plant, and a total of 7,000 tonnes of concentrated plant-based protein will be produced annually, according to Lantmännen.
The cooperative added that it hopes to contribute to increasing Swedish cultivation of peas by 50% – from about 80,000 tonnes of peas today to around 120,000 tonnes.
Magnus Kagevik, group president and CEO of Lantmännen, said: “We need to produce more food to supply the world’s growing population, and there is a global and long-term increasing demand for plant-based proteins as a food ingredient.
“The investment is an investment that will strengthen the entire value chain from farm to fork. This means new cultivation opportunities for farmers and creates conditions for increased Swedish food production and exports – which in turn is positive for Sweden’s food supply.”
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By GlobalDataLantmännen said the plant in Lidköping is expected to be completed in the first half of 2027 and will create approximately 30 jobs.
Lars-Gunnar Edh, head of the energy division, said: “Lantmännen Biorefineries already produces wheat and oat protein in our facilities in Norrköping and Kimstad, and now we are taking another step by also using legumes as a protein raw material.
“We see a steadily increasing demand for plant-based proteins and together with our members, active Swedish farmers, want to be a leader in this development and production. It is a long-term investment for Swedish agriculture and Swedish food production.”
Earlier this year, the Swedish group offloaded its prepared food company Gooh to Finland’s Atria for an undisclosed sum.
At the time, Thomas Isaksson, executive vice president of Lantmännen, said: “We have decided to divest the business area in order to focus on our core, which is to create value from the grain value chain.”
