WINNIPEG – Manitoba Harvest, a wholly-owned subsidiary of Tilray, Inc. (NASDAQ: TLRY) (TSX: TLRY) and the global leader in hemp food, is partnering with a consortium of industry leaders through Protein Industries Canada to develop new hemp and pea varieties with increased protein content, differential starch content, and improved texture. These advancements will dramatically increase the potential for hemp usage in the growing plant-based protein movement.
Manitoba Harvest will lend its expertise in food innovation, product development, and formulation, to improve the potency and functionality of hemp and pea protein. Together with their partners, this work will make hemp proteins suitable for a wider range of food applications.
“Diversity of ingredients within Canada’s plant-based foods and ingredients sector is an essential element of helping it grow to become a global leader,” Protein Industries Canada CEO Bill Greuel said. “Manitoba Harvest, through their partnership with NRGene, Farmer’s Business Network and Pulse Genetics, is displaying great leadership in the area of hemp ingredient development. The hemp-pea flour blend they develop through this project will go a long way in meeting the needs of consumers and food manufacturers alike.”
“As the largest and longest standing hemp food brand in North America, we are committed to providing our customers with the best hemp products available,” said Jared Simon, President, Manitoba Harvest. “Developing plant-based protein products with superior taste, functionality and nutrition aligns perfectly with our objectives as a brand, and we have a history of leadership at the farm level, working directly with growers to improve quality throughout the hemp supply chain.”
The development of these new seed varieties, as well as the hemp-pea flour blend, is expected to create new market opportunities within Canada’s plant-based food and ingredients value chain. NRGene, Farmer’s Business Network, Pulse Genetics and Manitoba Harvest are together investing $3.3 million into the project, with Protein Industries Canada investing an additional $1.8 million.
Founded in 1998, Manitoba Harvest is a pioneer and leader in branded, hemp-based foods with the fastest-growing products in the global hemp food market. Manitoba Harvest is a Certified B Corporation and the first Canadian food company to attain a CarbonZero Certification.
Protein Industries Canada is an industry-led, not-for-profit organization committed to positioning Canada as a global source of high-quality plant-based food and ingredients. Together with industry, Protein Industries Canada has committed more than $377 million to the Canadian plant-protein sector.
We seek Safe Harbor.