Science and business join forces in Brazil to accelerate innovation in food by focusing on the sustainable use of LATAM’s biodiversity and affordable nutrition for consumers

Three leading global companies, Givaudan, Bühler, and Cargill, have formed a consortium in collaboration with the FoodTech HUB Latam and ITAL, Food Technology Institute, to build a food innovation centre in the city of Campinas, recognised as Brazil’s tech powerhouse. The “Tropical Food Innovation Lab” will be located at the Food Technology Institute, ITAL, in a fully refurbished, 1,300 square metre area.

This new hub will be the go-to place in Latin America to connect and develop sustainable, future food and beverage products. Start-ups, companies, investors, universities and research institutions will have direct access to high-end technologies for rapid prototyping and plugging into the global food tech ecosystem that will foster fast-paced innovation in the food and beverage sector.

The most current generation of wet and dry extrusion systems for plant-based proteins, as well as beverages processing units will add complementary capabilities to the existing facilities of ITAL. When complete, the facility will feature new application labs and a state of the art demo kitchen, where consumers, food scientists, nutritionists, chefs, mixologists and marketers, among other professionals, will work together to create sustainable new products.

In a world facing major challenges from climate change, combined with a population expected to exceed 9.5 billion people by 2050, it is essential for the food industry to take positive action and work towards a regenerative and equitable food system that and provides healthy, safe and nutritious food for all, while staying within the planetary boundaries.

Brazil has the richest plant biodiversity on the planet, distributed in six major biomes and is one of the world’s main food producers. Yet immense potential remains, with regards to healthy and sustainable products, novel food and food waste reduction, contributing to Food Systems Transformation.

The Tropical Food Innovation Lab is planned to open in Q1 2023.

JBT Corporation announced that Brian Deck will resume his role as Interim President and Chief Executive Officer, effective immediately.

Following further discussions with JBT’s Board of Directors, Tom Giacomini has decided that he is unable to return as Chief Executive Officer of JBT and has stepped down, effective immediately, to focus on his health and recovery. He has also resigned from the Board of Directors.

Alan Feldman will continue in his role as Non-Executive Chairman on a permanent basis. Matt Meister, Vice President and CFO for JBT Protein, has been named Interim Chief Financial Officer. Mr. Meister joined JBT in May 2019 and has responsibility for all finance activity for the Protein Division within the FoodTech segment. He brings a strong track record of driving results and developing process improvements in complex, global businesses to the role of Interim CFO.

The Board has initiated a search to identify a permanent CEO and will retain a leading executive search firm to assist in the process. It will consider both internal and external candidates.

“Over the past few months, Brian and the senior management team have demonstrated outstanding leadership of JBT and we are confident in their ability to continue executing the Company’s strategy while the Board conducts a search for a permanent successor,” said Mr. Feldman. “I look forward to continuing to work with Brian and to leveraging his financial and operational expertise as we focus on ensuring the continued health and safety of our employees and serving our customers.”

Mr. Feldman added, “We owe Tom a great debt of gratitude for spearheading JBT’s transformation over the past seven years. Under his leadership, JBT has generated a significant increase in shareholder value, while laying a strong foundation from which to continue delivering for stakeholders. Today, JBT benefits from a disciplined long-term strategy that focuses on growth and margin expansion while delivering exceptional products and services to its customers. Tom also played a key role in assembling our dynamic team of leaders whose significant expertise will further the strategy and continue to drive results. On behalf of everyone at JBT, I send my very best wishes to Tom, including the sincere hope for his improved health.”

About Matt Meister

Matt Meister joined JBT in May 2019 with extensive experience in global manufacturing across various industries, including his prior roles at IDEX Corporation where he held several operational finance leadership roles, most recently serving as Group Vice President, Health and Science Technologies.  Prior to joining IDEX, he held various roles of increasing responsibility at Navistar International Corporation. Mr. Meister holds an MBA from The University of Chicago Booth School of Business and an undergraduate degree in Finance and Operations Management from Washington University in St. Louis.

JBT Corporation (NYSE: JBT) is a leading global technology solutions provider to high-value segments of the food & beverage industry with focus on proteins, liquid foods and automated system solutions. JBT designs, produces and services sophisticated products and systems for multi-national and regional customers through its FoodTech segment. JBT also sells critical equipment and services to domestic and international air transportation customers through its AeroTech segment. JBT Corporation employs approximately 6,300 people worldwide and operates sales, service, manufacturing and sourcing operations in more than 25 countries.