Calgary-based faba protein producer Phytokana Ingredients Inc. has secured long-term offtake agreements with domestic and international customers, totaling approximately $450 million in contracted revenues ahead of the launch of their faba protein facility. The agreements, spanning three to ten years, are tied to the commercialization of the plant in Strathmore, Alberta, which is designed to process 30,000 metric tonnes per year for global food and beverage manufacturers. The pre-commercial contracting is seen as significant for a startup, reducing financing risks and providing revenue visibility from the start of operations.

The CEO of Phytokana highlighted the versatile applications of faba protein, including in plant-based meats, alternative dairy, fortified baked goods, and snack foods, validating the product performance and commercial strategy. The chairman praised the company's credibility in the operating environment and emphasized the secured demand that de-risks their path to commercialization. Faba beans are becoming a popular alternative protein source, particularly due to their performance in Canadian growing conditions, competitive amino acid profile, and the cleaner label potential of dry fractionation processing over solvent-based methods. Customer details, pricing terms, and facility opening timeline have not been disclosed.