New hub announces first investment in Protera
ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, today announced it has launched ICL Planet Startup Hub. This innovation platform is expected to help introduce innovative foodTech and agriTech start-ups to the marketplace, as well as provide an extensive network of support, including investment and mentorship. ICL Planet Startup Hub’s first investment is in Protera, an AI-driven start-up designing and developing new proteins, to enable a wide range of plant-based and sustainable solutions.
“ICL is excited to help fund Protera’s efforts to develop safe, sustainable and unique protein-based food ingredients – which address today’s ethical, environmental and consumer health challenges – through its Series A investment of $1 million,” said Hadar Sutovsky, vice president of External Innovation and general manager of ICL Planet for ICL. “We’re pleased to be investing – alongside Sofinnova Partners, Grupo Bimbo and SOSV – in Protera’s Natural Intelligence technology, as it aligns with our overarching food strategy and demonstrates our commitment to this space.”
“Protera is addressing critical unmet needs and foodTech opportunities, which are complementary and synergistic with ICL’s food specialties growth strategy,” said Rado Sporka, vice president of the Food Specialties Commercial Business for ICL. “Their dedication to providing natural protein solutions and to finding sustainable and healthy food alternatives, makes them an excellent fit with ICL.”
ICL Planet was created as an innovation catalyst serving early stage, pilot-ready start-ups, as well as more mature, market-ready start-ups operating within the agriculture and foodTech domains. The initiative was driven to advance and nurture game-changing technology companies active in addressing critical global needs and making a positive and sustainable environmental impact.
ICL Group is a leading global specialty minerals company, which also benefits from commodity upside. The company creates impactful solutions for humanity's sustainability challenges in global food, agriculture, and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its passionate team of talented employees, and its strong focus on R&D and technological innovation to drive growth across its end markets. ICL shares are dually listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,000 people worldwide, and its 2020 revenues totaled approximately $5.0 billion.
For more information, visit ICL's website at www.icl-group.com.
To access ICL's interactive Corporate Social Responsibility report, please click here.
To learn more about ICL Planet, visit www.icl-group.com/innovation/planet-startup-hub/.
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Protera is advancing the science of protein engineering to address some of the most critical problems and opportunities in food, agriculture, the environment and human health. The company streamlines protein design and development with madi™, its proprietary deep learning algorithm, to predict high value protein products and enzymes with unprecedented speed and accuracy. Visit http://proterabio.com for more information.