Nepra Foods is a plant-based company from Colorado, making allergen-friendly alt-protein products and snacks from hemp. Following a successful IPO in Canada this September, the company has just entered the US securities market.
Nepra’s IPO on the Canadian Securities Exchange was oversubscribed, raising $7.5 million at an offering price of $0.47 CAD. At the same time, the company was listed on the Frankfurt Stock Exchange. Now, just two months later, the company has entered the OTC Pink Market in the US under the trading symbol NPRFF. The listing will give Nepra access to a broader range of investors and increase the convenience of trading within the US.
About Nepra Foods
Nepra produces a range of plant-based, allergen-free ingredients, used by large brands which are stocked at major supermarket chains like Walmart, Costco, Target, and Safeway. The company is also rolling out a range of consumer products, including high-protein ready meals, vegan cream cheese, and alt-meats.
Most recently, Nepra has launched a proprietary ingredient that it describes as “game-changing” — textured hemp protein, or THP. Conventional TVP is usually made with soy, wheat, or pea proteins, but as these are common allergens, they are not accessible to everyone.
Benefits of hemp
Hemp, on the other hand, is allergen-free and has an excellent nutritional profile. It is high in protein and fibre, contains all the essential amino acids, and has an optimal ratio of omega-3 to omega-6 fatty acids. It is also non-GMO and has a neutral flavour that makes it ideal for use in meat alternatives. Additionally, hemp is naturally pest-resistant and therefore doesn’t require pesticides.
Worldwide, companies such as Israel’s Sustainable Agricultural Technologies Limited and New Zealand’s Craft Meat Company are also working on hemp-based meat alternatives, but the idea has yet to take off in the US. Nepra’s THP could help to change that.
As the company continues to expand, it has started work on a new 31,000 square foot facility in Colorado for production and R&D. The facility will feature special equipment to produce THP, among other ingredients.
“This new, dedicated space gives our team of world-class experts, led by Chief Technology Officer Chadwick White, the secure working environment they need for research, development, and testing while protecting the confidentiality of our intellectual property,” said Nepra CEO David Wood. “It also provides much-needed real estate to meet our production goals.”
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