CL: Right, because when it comes down to it, you know, it doesn't matter how efficient your product is, it doesn't matter how environmentally friendly or sustainable or anything like that. If people don't like the taste, they aren't going to buy it again.
TL: That's right. Like, a plastic bag from Walmart—yes, plastic bags are not a good idea, so if we invent a new plastic bag from peas, hemp, whatever, and it doesn't work, no one's gonna use it. It functionally has to work. And food, nutrition and taste are key. And I think the other one is accessibility. I've said that a number of times. You have to be able to get it and afford it, and it tastes good and gives you the proper nutrition.
As part of its growth into an alternative protein company, PURIS has partnered with Cargill and will be overhauling two dairy facilities to turn them into production facilities to meet demand. Lorenzen sees that investment as part of the company’s larger mission to help support the communities it calls home as well as the markets it serves.
TL: In the end, we'll retrofit two dairy facilities and spend hundreds of millions of dollars to do it. Cargill's our partner and they're a huge player in the animal protein space, so they're helping us through all of this. And we have some other investors as well that, you know, taking assets that were invested in 30, 40 years ago and giving them a massive facelift and reusing the infrastructure and some of the things that matter. But really, it's right in these communities that tend to be forgotten about and with a lack of investment, they will be forgotten about. So we had to leverage our engineering teams and really create the best use case for facilities across the Midwest to give them new life, and we're not investing for a year or two. We're putting a 50-year life on these assets and extending what the future holds for them.
I think it's just getting started. You look at what's required in terms of actual amount of protein for the world and as the population increased, how we're going to fill the gaps to where we're at today to where we need to be. They say if we produce the same style of proteins that we have, the figure is about the same size of the United States is more land that we would need. Well, that obviously comes at a cost; we're not just going to create land. So what are we going to do? And we really need to be more efficient with the land that we have and it can't come at the cost for the environment. So you start thinking about well, what are the ways...? //