Plantible Secures $35M in USDA-backed Debt and Equity to Quintuple Rubi Protein Output in Texas

Plantible Foods has secured $35 million in funding to expand production of its Lemna-derived Rubi Protein in Texas. The funding includes a $25 million loan from USDA-licensed lender X-Caliber Rural Capital and a $10 million equity investment from RA Capital and existing backers. The expansion will involve the construction of up to 50 new greenhouses, allowing the company to increase its annual production capacity to more than 1,000 metric tons.

Rubi Protein is known for its high protein content, containing all nine essential amino acids and vitamin B12. With FDA acknowledgment of its safety and previous funding rounds, Plantible is now focused on scaling production to meet the increasing demand for its product. The company's expansion in Eldorado is also seen as a positive development for economic growth in Schleicher County.