The partnership will increase exposure for two proprietary ingredients, V-70™ Hemp Heart Protein and V-ONE™ Hemp Heart Oil that will debut in July 2020. The two new ingredients deliver the nutritional excellence found in hemp while providing neutral flavor and color and unique formulation characteristics that solve challenges for formulators across a broad range of product applications. AFS also will provide technical support, including formulation expertise and customer service.
“AFS has a well-earned reputation as a leader in the food ingredient space for the development of functional ingredients and working closely with their supply chains to scale them sustainably for all stakeholders,” said Chad Rosen, founder and CEO, Victory Hemp. “This partnership will allow Victory Hemp to apply all of our focus and resources on developing processing infrastructure and building a healthy supply chain as we work together to bring hemp back to the front row in American agriculture.”
Commenting on the deal, Loretta Zapp, CEO of Applied Food Sciences, said: “As hemp continues to earn a more significant role in U.S. agriculture, and the demand for plant-based proteins continues to rise, we recognize the opportunity to develop new ingredients that can fully utilize the industrial hemp plant to deliver novel high protein ingredients.”
AFS recently opened its Innovation Center at the University of Iowa’s Bio-Ventures Research Park where it develops novel, natural, and organic ingredients that are highly scientifically qualified, non-GMO and GRAS (Generally Recognized As Safe).