The Sustainable Nutrition Group announced positive results in the development phase of its unique hemp isolates and concentrates with Australian Plant Proteins (APP). The company to report positive results in the development phase of the unique hemp isolates and concentrates being developed in collaboration with APP. Positive test results indicate that the development of high protein, soluble and tasteless hemp isolates and concentrates is on track, with a significant range of identified commercial applications.

Protein extraction from whole seed hemp cake has achieved a protein level of >85%, which compares favourably to soy protein concentrates (81%), pea protein concentrates (83%) and faba bean protein concentrates (85%). In addition, the company's hemp protein concentrates are non-allergenic, gluten free, non-GMO and are Australian grown and processed. The company is well positioned to benefit from significant investments in APP from global agrifood company Bunge Limited ($47.5 million) and $113 million worth of funding from the Federal Government to advance Australian production of plant-based proteins.

With an initial investment of $90,000, the company is leveraging APP's leading technological infrastructure to execute a low capex, fast-to-market development strategy. Under its agreement with APP, the company will own the intellectual property for the hemp concentrates and isolates and have 15-year exclusivity on its sale. Upon completion of development, commercialization is on track for early fiscal year 2023.

The first step in the commercialization strategy is to provide commercial samples of the finished product to key customers. These food manufacturers will then conduct their own internal product development, with commercial sales to follow. The products are expected to be sold into the rapidly expanding plant-based food and beverage markets, including milks, yoghurts, meat alternatives, protein bars and shakes, baked goods, protein supplements as well as sauces and condiments producers.

The company's unique hemp isolates and concentrates have the potential to play a significant role in replacing animal and other plant-based proteins. This new range of products is expected to generate new revenue streams for the company at attractive margins. The company has commenced discussions with leading ingredients distributors who supply more than 30 countries globally.

The global plant-based ingredients market is estimated at over USD 10 billion.