Plantible Foods has secured $35 million in combined debt and equity financing to expand production of Rubi Protein, its plant-derived functional protein ingredient, at the company’s Ranchito facility in Eldorado, Texas.
The financing includes a $25 million loan from X-Caliber Rural Capital through the U.S. Department of Agriculture’s OneRD Business & Industry program, along with a subsequent $10 million equity investment from RA Capital and existing investors.
Plantible plans to use the capital to increase annual Rubi Protein production capacity fivefold to more than 1,000 metric tons.
The expansion could include the construction of up to 50 additional greenhouses.
The additional capacity is intended to help Plantible serve its existing customer pipeline, enter new markets and expand economic activity around its commercial operations in Eldorado.
Plantible produces Rubi Protein from Lemna, commonly known as water lentils, using a proprietary cultivation and processing system.
Its process has already been demonstrated at the company’s 100-acre enclosed aquafarm outside Eldorado.
By growing the crop in a controlled aquatic environment, Plantible aims to reduce exposure to seasonal volatility and extreme weather while enabling consistent harvesting and production.
Rubi Protein is positioned as a functional ingredient for food and consumer products.
Plantible said the protein contains all nine essential amino acids and vitamin B12, has a neutral taste and has no known allergens.
Customers already using the ingredient include ICL Food Specialties, which has incorporated Rubi Protein as a binding agent in ingredient formulations.
The financing follows a regulatory milestone for Plantible. In February 2026, the U.S. Food and Drug Administration issued a “No Questions” letter confirming Rubi Protein’s Generally Recognized as Safe status.
Plantible said it was the first FDA clearance of this type for isolated RuBisCO protein in food applications.
Plantible has operated its first commercial site in Schleicher County since 2022 and has added local positions across operations, engineering and research while investing in workforce training and education partnerships.
The company was founded by Dutch entrepreneurs Tony Martens and Maurits van de Ven and is focused on developing plant-derived proteins for food applications.
KEY QUOTES:
“This funding and expansion is about delivering value for our customers, for Eldorado and Schleicher County, and for society who deserve high-quality nutritional functional food ingredients. We now have the means to build capacity and meet the industry’s demand.”
Tony Martens, Co-Founder and CEO of Plantible Foods
“The customer response to Plantible’s industry-leading tech and superior products has been phenomenal. We’re excited to help Plantible rapidly scale its modular production facilities at this critical moment in the company’s growth.”
Kyle Teamey, Managing Partner With The Planetary Health Team at RA Capital Management
“Plantible has translated breakthrough science into consistent, scalable production, and this expansion is the next proof point. Reducing water consumption and expanding protein production is a holy grail for an industry that is facing consistent constraints on available, healthy protein alternatives.”
Maria Buitron, Principal at Piva Capital
“Innovative companies often face financing challenges as they scale, even when their long-term potential is clear. USDA’s Business & Industry Loan Guarantee Program helps bridge that gap, and we’re proud to provide the maximum financing available under the program to support Plantible Foods’ continued growth and investment in rural America.”
Anna West, President of X-Caliber Rural Capital
