Inghams Group has invested A$1.05 million in Australian food technology start-up Just Meat Protein (JMP), supporting the commercialisation of a poultry protein technology developed by Australia’s national science agency, CSIRO.
The seed-stage investment gives Inghams a 10% shareholding in JMP, while chief growth officer Caroline Hayes will join the company’s board. The agreement also provides Inghams with exclusive first-right supply arrangements in Australia.
JMP holds the exclusive worldwide licence to commercialise the CSIRO-developed technology, which converts chicken meat into hydrolysed powdered protein ingredients for sports nutrition, functional foods and specialised nutrition applications.
According to Inghams, the technology is designed to create higher-value ingredients from poultry, targeting markets including sports nutrition, aged care, meal replacements and protein-fortified foods.
“The investment in Just Meat Protein is precisely the kind of innovation-led, high-value adjacency we have been looking to establish and is strongly aligned to our strategy to maximise the value we generate from every bird we process,” says Inghams chief executive officer and managing director Ed Alexander.
“The investment allows us to secure an early and strategically advantaged position in a category we believe has significant growth ahead of it.”
Just Meat Protein chief executive officer and co-founder Ellie Whelan says demand for alternative protein ingredients continues to increase.
“A growing population, the rapid rise in GLP-1 use, and the shift towards more conscious consumers are all feeding a huge growth in demand for new protein sources,” says Whelan.
“For us at Just Meat Protein, solving this through targeting low-value cuts is not only a commercial win, but a positive shift towards a more sustainable food system. We’re excited to take this world-first technology to market with the support of our seed investors, including Inghams.”
