Plantible Foods Receives $25 Million USDA-Backed Financing from X-Caliber Rural Capital for Texas Growth Project
X-Caliber Rural Capital (“XRC”), a licensed USDA OneRD lender and affiliate of X-Caliber Capital Holdings LLC, has announced the successful closing of a $25 million USDA OneRD Business & Industry (B&I) Guaranteed Loan to support the continued expansion of Plantible Foods’ commercial production operations in Eldorado, Texas. The financing represents the maximum loan amount available through the USDA Business & Industry Guaranteed Loan Program and will help accelerate the company’s mission of producing sustainable, high-quality plant-based ingredients at commercial scale.
Plantible Foods is a biology-driven food technology company focused on developing functional ingredients from Lemna, commonly known as water lentils. Through its proprietary cultivation and processing platform, the company transforms this highly efficient aquatic plant into innovative protein ingredients designed for applications across the food, nutrition, and consumer product industries.
The USDA-backed financing will support the expansion of Plantible’s Ranchito facility in Schleicher County, Texas, including the development of up to 50 additional commercial greenhouses. Once completed, the expansion is expected to significantly increase the company’s annual production capacity, allowing Plantible to produce more than 1,000 metric tons of its breakthrough plant protein ingredient each year.
“Plantible represents exactly the type of company the USDA Business & Industry Guaranteed Loan Program was designed to support — an innovative business with proven technology, strong leadership, and a meaningful commitment to rural communities,” said Anna West, President of X-Caliber Rural Capital. “Providing the maximum financing available under the program demonstrates how USDA lending can help businesses secure the capital they need to scale operations, create jobs, and generate long-term economic opportunity in rural America.”
The USDA Business & Industry Guaranteed Loan Program plays an important role in expanding access to financing for businesses located in eligible rural areas. By offering federal loan guarantees to approved lenders, the program encourages private-sector investment in rural communities while helping companies obtain the funding needed for growth, expansion, and job creation.
For businesses like Plantible Foods, USDA financing provides an alternative pathway to secure larger loan amounts and longer-term capital structures that may be difficult to obtain through traditional lending channels. The program is designed to strengthen rural economies by supporting projects that increase employment, improve economic resilience, and encourage innovation.
“Plantible has built an impressive platform with a clear commercial growth strategy, and we were able to structure financing that aligned with the company’s long-term objectives,” said Shaun Stehr, Vice President at X-Caliber Rural Capital, who originated the transaction. “Our team worked closely with Plantible to deliver a financing solution that supports its continued expansion while advancing USDA’s mission of promoting investment and economic development in rural communities.”
The expanded Eldorado facility is expected to help Plantible meet growing customer demand while strengthening domestic production capabilities for next-generation food ingredients. The project reflects increasing interest in alternative proteins and sustainable agricultural technologies designed to address evolving consumer preferences and global food challenges.
Founded by Dutch entrepreneurs Tony Martens and Maurits van de Ven, Plantible Foods has developed a proprietary production system that uses water lentils as a sustainable source of functional plant protein. The company’s flagship ingredient, Rubi Protein™, is designed to provide high-quality nutritional benefits while offering functional characteristics that make it suitable for a variety of food and beverage applications.
“This financing represents an important milestone for Plantible as we continue scaling our operations in Eldorado,” said Tony Martens, Co-Founder and CEO of Plantible Foods. “The expansion will enable us to better serve our customers while continuing to invest in the community where we have built our manufacturing operations.”
The facility expansion is also expected to deliver economic benefits beyond Plantible’s production growth. The project will create additional employment opportunities in Schleicher County while supporting regional contractors, suppliers, and service providers involved in construction and ongoing operations. As the company grows, its investment is expected to contribute to the continued development of Eldorado as a center for advanced agricultural manufacturing.
Since establishing its commercial facility in the region, Plantible has invested in building a skilled workforce focused on operations, engineering, and research. These efforts have helped strengthen the area’s emerging advanced agriculture sector and demonstrate the potential for innovative food technology companies to create long-term economic value in rural communities.
The expansion highlights the broader importance of rural businesses in driving innovation, attracting investment, and creating high-quality employment opportunities. Companies developing sustainable food production systems are increasingly becoming key contributors to economic development by combining agricultural innovation with modern manufacturing capabilities.
For X-Caliber Rural Capital, the transaction reinforces its commitment to providing customized USDA financing solutions for businesses focused on job creation, domestic manufacturing growth, and sustainable economic development. Through its USDA lending platform, XRC continues to support companies that are bringing innovative ideas to market while strengthening rural economies across the United States.
Plantible Foods’ headquarters and research and development hub are located in San Marcos, California, where the company operates a pilot facility and cultivation center. With the support of USDA financing and the expansion of its Texas manufacturing operations, Plantible is positioned to further scale its technology and play a growing role in the future of sustainable protein production.
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