ICL Boosts Relationship With Plantible Foods With Follow-On Investment

ICL Group Ltd. ICL announced a follow-on investment in Plantible Foods, as part of its Series B capital round. This investment expands on ICL’s earlier involvement in Plantible’s Series A round, extending the two firms’ strategic relationship.

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In October 2023, ICL Food Specialties and Plantible Foods launched Rovitaris Binding Solution driven by Rubi Protein. It received the Ingredient Idol award at the SupplySide West conference in November 2024. It was also recognized as the most innovative food ingredient of 2024.

The collaboration with ICL is critical in bringing Rubi Protein to market. The award at SSW emphasizes the potential of the companies’ collaboration to improve the food business with sustainable and functional ingredients.

ICL’s investment in Plantible Foods demonstrates its commitment to developing sustainable and innovative food industry solutions. 

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The development of breakthrough ingredients, such as Rovitaris Binding Solution, is aligned with these industry trends and helps position ICL to meet changing customer preferences and capitalize on new opportunities.

ICL’s shares have lost 3.5% in the past year compared with the Zacks Fertilizers industry’s 19.6% decline.

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ICL currently carries a Zacks Rank #2 (Buy).

Other top-ranked stocks in the basic materials space are Carpenter Technology Corporation CRS, CF Industries Inc. CF and New Gold Inc. NGD.

Carpenter Technology currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 14.1%. The company’s shares have soared 138.9% in the past year. 

CF, which currently sports a Zacks Rank of 1, beat the consensus estimate in two of the last four quarters and missed twice, the average earnings surprise being 10.3%. CF has gained around 7.8% in the past year.

New Gold, which currently carries a Zacks Rank of 2, beat the consensus estimate in three of the trailing four quarters and missed once. In this time frame, it has delivered an earnings surprise of roughly 37.5%, on average. NGD’s shares have gained 65.8% over the past year. 

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CF Industries Holdings, Inc. (CF) : Free Stock Analysis Report

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