Corbion stated in a launch it should put money into key development areas reminiscent of natural food preservation and lactic acid by means of 2025 whereas wanting to exit its co-packing mixing and frozen dough companies.
Corbion stated the corporate will now have three enterprise models: sustainable food options, which can embody preservation, useful techniques and single substances; lactic acid and specialties; and incubator, which can develop merchandise involving algae-based omega-3, algae proteins (in cooperation with Nestlé) and a lactic-acid primarily based co-polymer platform.
The Dutch food and biochemicals firm stated the adjustments to its enterprise technique “builds on Corbion’s fundamentals and strengths by bringing further focus to the business portfolio.” In a press release, Olivier Rigaud, Corbion’s CEO, stated the shift additional speed up its transfer from an substances firm right into a options one. “We plan to develop on this options mannequin with natural food preservation and useful techniques as our core capabilities, enabling us to speed up development in shut adjacencies,’ he stated.
With main adjustments to its enterprise mannequin, Corbion hopes to emphasize areas the place it expects extra development and shed others that not match.
Rigaud stated “sustainability is at the heart of what we do,” and Corbion is wanting to acquire from the worldwide effort to develop extra sustainable merchandise and options. He stated the corporate has aligned its technique with the United Nations’ Sustainable Developments Goals, including that zero starvation; good well being and well-being; and accountable consumption and manufacturing targets are areas the place Corbion can have essentially the most affect.
Rigaud signaled a enterprise mannequin shift late final 12 months in an interview with Bioplastics News. He stated the corporate’s sustainability method meshed nicely along with his personal views, which is why he joined Corbion as CEO final August after management roles with plant extracts firm Tate & Lyle and Naturex. Rigaud additionally informed the publication many firms discuss up sustainability and social engagement, however few actually act on it.
One factor that “attracted me is the growth potential of the company. I immediately saw all sorts of chances and opportunities to take Corbion to the next level. Major investments are coming,” he informed Bioplastics News.
According to the corporate’s technique replace, Corbion will proceed to make investments greater than 4% of its gross sales in R&D to help development. Corbion expects to open a lactic acid plant in Thailand by 2023, which the corporate would function “at the highest sustainability standards and lowest costs.” This will embody biodegradable polylactic acid sourced from renewable sources reminiscent of corn starch or sugar cane.
Corbion additionally operates an algae manufacturing facility in Brazil, which Rigaud stated is absolutely built-in with the sugar facility of agribusiness and food firm Bunge. Electricity to function the plant comes from burning the sugar manufacturing facility’s residues. This sort of cooperative manufacturing may assist each companies maintain prices down and take fuller benefit of the uncooked supplies concerned.
Corbion is into different improvements as nicely. Just final month, the corporate launched a powder ingredient to substitute conventional salt curing in fish. The product reportedly combines salt’s taste and performance with vinegar’s antimicrobial properties to assist inhibit listeria and prolong shelf life.
A focus on sustainability, natural food preservation and on-trend substances reminiscent of algae seems to have positioned Corbion for future success with the hope that the shift will translate into quicker development at its enterprise.