ICL strengthens collaboration with Plantible Foods through follow-on investment

ICL, a global specialty minerals company, has announced a follow-on investment in Plantible Foods, participating in the company's Series B funding round. This investment reinforces ICL’s commitment to sustainable food innovation and builds upon its initial involvement in Plantible’s Series A round. The ongoing collaboration between the two companies continues to advance the development and commercialization of plant-based protein solutions.

In October 2023, ICL Food Specialties, in partnership with Plantible Foods, introduced Rovitaris Binding Solution, a clean-label binding ingredient powered by Plantible’s Rubi Protein. This innovative ingredient was honored with the Ingredient Idol award at the SupplySide West (SSW) conference in November 2024, where it was recognized as the most innovative food ingredient of the year.

“Our continued investment in Plantible Foods underscores our commitment to advancing sustainable and innovative solutions in the food industry,” commented Hadar Sutovsky, Vice President of Corporate Investments at ICL. “We are excited to support Plantible's growth and the development of their groundbreaking plant-based proteins.”

Rovitaris Binding Solution addresses the growing need for functional, sustainable, and clean-label ingredients. Designed to replace traditional animal-based binders, Rovitaris offers food manufacturers a versatile option for creating plant-based products without compromising on texture, stability, or taste. The ingredient’s functionality makes it suitable for a wide range of applications, including meat alternatives, baked goods, and processed foods.

Rado Sporka, Vice President of Food Specialties at ICL, noted the significance of the recognition at SupplySide West: “Receiving the Ingredient Idol award for Rovitaris is a testament to our dedication to delivering cutting-edge, clean-label solutions. Consumers are increasingly seeking healthier and more sustainable food options, and we anticipate rising demand for Rovitaris in 2025.”

The market for clean-label ingredients is expanding rapidly. According to Global Market Research, the global clean-label ingredients market was valued at approximately $53 billion in 2024 and is projected to reach $99 billion by 2034, growing at a compound annual growth rate (CAGR) of over 6.4%. This growth is driven by consumer demand for transparency, natural products, and environmentally friendly solutions.

Tony Martens Fekini, CEO of Plantible Foods, emphasized the importance of collaboration with ICL: “Our partnership with ICL is instrumental in bringing Rubi Protein to market. The recognition at SSW highlights the potential of our collaboration to transform the food industry with sustainable and functional ingredients.”

ICL’s investment in Plantible Foods aligns with broader trends in the food industry toward sustainability and innovation. Plantible’s Rubi Protein, derived from the plant Lemna (commonly known as duckweed), offers a highly functional and sustainable alternative to traditional proteins. It is naturally abundant, fast-growing, and requires minimal resources, making it an environmentally friendly option for food production.

By developing ingredients like Rovitaris, ICL and Plantible are positioned to help manufacturers meet the growing demand for plant-based and clean-label products. The partnership supports both companies’ goals of reducing the environmental impact of food production and offering innovative solutions that cater to evolving consumer preferences.