Archer-Daniels-Midland Plans To Invest $300M To Expand Protein Production

• Archer-Daniels-Midland Co (NYSE:ADM) said it is planning a $300 million investment to expand its Decatur, Illinois, alternative protein production.
• The company will also launch a Protein Innovation Center to enhance its alternative protein capabilities.
• The project is expected to be completed in the first quarter of 2025.
• The investment will support ADM's soy protein concentrate capacity and nearly double the extrusion capacity at the Decatur complex. 
• "The array of opportunity areas for alternative proteins in foods and nutrition solutions is continuing to grow at 10% CAGR, with alternative meat and dairy sales alone expected to grow by 14% a year and reach $125 billion in 2030," said Leticia Gonçalves, ADM's president of Global Foods.
• Price Action: ADM shares are trading higher by 0.71% at $95.24 on the last check Tuesday.