X-Caliber Rural Capital Provides $25 Million USDA Financing to Support Plantible Foods’ Texas Expansion
X-Caliber Rural Capital (XRC), a licensed USDA OneRD lender and affiliate of X-Caliber Capital Holdings LLC, has closed a $25 million USDA OneRD Business & Industry Guaranteed Loan to support the expansion of Plantible Foods’ commercial production operations in Eldorado, Texas. The transaction represents the maximum loan amount currently available through the USDA Business & Industry Guaranteed Loan program and is designed to help the food technology company significantly increase its production capacity.
The financing will support the expansion of Plantible Foods’ Ranchito commercial production facility in Schleicher County, Texas. As part of the project, the company plans to add as many as 50 new commercial greenhouses. The expansion is expected to increase Plantible’s annual production capacity for its plant-based protein ingredients to more than 1,000 metric tons.
The transaction highlights the role that government-backed financing can play in helping innovative companies expand manufacturing operations in rural communities. It also demonstrates how USDA lending programs can provide growing businesses with access to capital for projects that have the potential to generate employment, increase domestic production, and contribute to local economic development.
USDA Financing Supports Major Production Expansion
Plantible Foods is a biology-focused food technology company that develops functional ingredients from Lemna, commonly known as water lentils. The company has developed a proprietary cultivation and production platform designed to transform the fast-growing aquatic plant into functional food ingredients, including its flagship Rubi Protein™.
The company’s expansion in Eldorado is intended to help address growing demand for plant-based protein ingredients and provide additional production capacity as Plantible continues to develop its commercial business.
The planned addition of up to 50 commercial greenhouses represents a significant expansion of the company’s existing operations. Once completed, the project is expected to allow Plantible to produce more than 1,000 metric tons of plant protein annually.
For a company operating in the rapidly developing alternative-protein and food-ingredient market, the ability to scale production is an important component of commercial growth. Increased capacity can allow manufacturers to serve additional customers, improve operational efficiency, and establish a stronger foundation for future expansion.
The USDA-backed financing gives Plantible access to substantial long-term capital while supporting an investment located in an eligible rural community.
X-Caliber Highlights Role of Rural Lending
Anna West, President of X-Caliber Rural Capital, said the Plantible transaction illustrates the type of investment that the USDA Business & Industry Guaranteed Loan Program is intended to facilitate.
“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,” West said.
She added that providing the maximum financing available through the program demonstrates how USDA lending can help businesses obtain the capital necessary to scale operations, create jobs, and generate long-term economic opportunities in rural areas.
Government-backed lending programs can be particularly important for companies undertaking capital-intensive expansion projects. Conventional financing may not always provide the same combination of loan size, structure, and term that a growing company needs to fund a major manufacturing expansion.
Through the USDA guarantee structure, lenders can support eligible businesses while benefiting from a federal guarantee that can help reduce lending risk.
For rural communities, the model can help attract private capital to projects that might otherwise face greater difficulty securing financing.
Business & Industry Guaranteed Loan Program
The USDA Business & Industry Guaranteed Loan Program is designed to improve access to capital for businesses located in eligible rural areas.
Under the program, the USDA provides a federal guarantee to participating lenders, allowing financial institutions to extend financing for qualifying projects. The program can be used to support business expansion, acquisition, modernization, equipment purchases, and other eligible investments.
The broader objective is to encourage private investment and economic activity in rural communities.
For companies such as Plantible Foods, USDA-backed financing can provide an important source of growth capital at a stage when production infrastructure requires substantial investment.
The Plantible transaction demonstrates how the program can connect private-sector financing with rural economic-development objectives. The project is expected to expand a domestic manufacturing operation while creating additional employment and generating demand for local contractors and suppliers.
Financing Structured Around Plantible’s Growth Strategy
Shaun Stehr, Vice President at X-Caliber Rural Capital and the originator of the transaction, said the lender worked closely with Plantible to develop a financing structure aligned with the company’s longer-term objectives.
“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,” Stehr said.
He noted that the financing is intended to support the company’s continued expansion while advancing the USDA’s mission of promoting investment and economic development in rural communities.
The transaction illustrates the importance of structuring financing around the specific requirements of an expanding manufacturing business. Large-scale production facilities can require significant upfront capital for construction, equipment, infrastructure, engineering, and operational development.
Access to a $25 million USDA-backed loan provides Plantible with capital to execute the next phase of its growth strategy without relying exclusively on traditional financing sources.
Plantible Foods Expands Plant-Based Protein Production
Founded by Dutch entrepreneurs Tony Martens and Maurits van de Ven, Plantible Foods has developed a technology platform centered on water lentils.
The company’s production model is designed to cultivate Lemna and process it into functional ingredients for use in food applications. Its flagship product, Rubi Protein™, is positioned as a plant-based protein ingredient designed to provide functionality for food manufacturers.
Plantible’s technology reflects the broader movement toward alternative sources of protein and more efficient food-production systems. Food companies are increasingly exploring ingredients that can meet consumer demand for plant-based products while also delivering functionality and scalability for manufacturers.
The expansion of Plantible’s Eldorado facility is intended to strengthen the company’s ability to respond to this market opportunity.
By increasing production capacity beyond 1,000 metric tons annually, Plantible expects to be better positioned to serve existing customers and accommodate future commercial demand.
Economic Impact in Schleicher County
The benefits of the project are expected to extend beyond Plantible’s own operations.
The company’s expansion is projected to create additional employment opportunities in Schleicher County. It is also expected to generate work for local contractors and suppliers during the construction and development of the additional greenhouse capacity.
Manufacturing investments can have a multiplier effect in rural economies. New facilities and expansions create direct employment while also generating demand for construction services, transportation, maintenance, utilities, professional services, and other local businesses.
For Eldorado, the Plantible project represents an opportunity to strengthen the community’s role in advanced agricultural manufacturing and food technology.
Since establishing its commercial facility in Schleicher County, Plantible has invested in skilled operations, engineering, and research positions. The company’s continued investment contributes to the development of a specialized workforce in the region.
The expansion therefore represents more than an increase in production capacity. It is also part of a broader effort to establish a technology-driven agricultural manufacturing operation in a rural U.S. community.
Supporting Domestic Manufacturing
The project also aligns with broader efforts to strengthen domestic production of innovative food ingredients.
Food supply chains have become an increasingly important consideration for companies and policymakers, particularly as manufacturers seek greater resilience and reliable access to key inputs.
Expanding domestic production capacity can help companies develop more localized supply chains and reduce dependence on imported ingredients or overseas production.
Plantible’s investment in its Texas facility provides an example of how biotechnology and advanced agricultural production can be combined with domestic manufacturing.
The use of commercial greenhouses allows the company to scale its cultivation process while maintaining a controlled production environment. Increasing the number of greenhouses is expected to provide the physical infrastructure needed to support higher output as customer demand grows.
Plantible’s California Research and Development Operations
While the company’s commercial expansion is taking place in Texas, Plantible Foods maintains its headquarters and research and development hub in San Marcos, California.
The California operation includes a pilot facility and pilot cultivation facility, supporting the company’s ongoing work in biotechnology, cultivation, and ingredient development.
The combination of research and development operations in California with commercial manufacturing in Texas gives Plantible a platform for continuing to develop its technology while scaling production.
This structure can be particularly valuable for a growing food technology company because commercial expansion needs to be supported by ongoing research, process optimization, and product development.
As Plantible increases its manufacturing footprint, its R&D capabilities can continue to support improvements in cultivation, processing, ingredient functionality, and production efficiency.
Financing Reflects Growing Interest in Food Technology
The transaction comes at a time when food technology companies are attracting increasing attention from investors, manufacturers, and consumers.
Alternative proteins and plant-based ingredients have become important areas of innovation within the broader food industry. Companies operating in the sector are seeking technologies that can provide scalable production, nutritional functionality, improved sustainability, and commercial viability.
For these businesses, securing financing for manufacturing infrastructure can be one of the biggest challenges associated with moving from technology development to commercial scale.
The $25 million USDA financing provides Plantible with significant capital to bridge that gap.
By supporting the development of up to 50 additional greenhouses, the financing is intended to help convert Plantible’s technology platform into greater commercial production capacity.
X-Caliber’s Role in Rural Economic Development
The transaction also reinforces X-Caliber Rural Capital’s role as a specialized provider of USDA financing.
As a licensed USDA OneRD lender, XRC focuses on financing opportunities that can benefit rural businesses and communities. Its work with Plantible demonstrates how specialized lenders can help companies navigate government-backed financing programs and structure capital around specific business objectives.
For rural businesses, obtaining financing can sometimes be more challenging because of geographic considerations, project size, limited local capital availability, or the specialized nature of an investment.
USDA-backed programs can help address some of these challenges by encouraging lenders to provide capital for qualifying rural projects.
The Plantible transaction shows how such financing can support a combination of commercial objectives and community-development priorities.
With the $25 million financing now closed, Plantible Foods can move forward with the next stage of its Eldorado expansion.
The planned development of up to 50 additional commercial greenhouses is expected to significantly increase the company’s production capacity and strengthen its ability to serve customers.
At the same time, the project is expected to create jobs, support local suppliers and contractors, and contribute to the economic development of Schleicher County.
For X-Caliber Rural Capital, the transaction demonstrates the potential of USDA financing to support innovative businesses while advancing rural economic-development objectives.
For Plantible, the financing represents an important milestone in its transition toward greater commercial scale.
The project ultimately brings together several priorities: expanding domestic manufacturing, increasing production of plant-based protein ingredients, creating rural employment, attracting private investment, and supporting technological innovation in the food industry.
As Plantible continues to expand its operations, the Eldorado facility is expected to serve as a key part of the company’s commercial production network. Meanwhile, its California research and development operations will continue supporting innovation and the development of its proprietary technology platform.
The $25 million USDA-backed financing therefore represents more than a capital infusion. It provides the financial foundation for a major rural manufacturing expansion and illustrates how government-supported lending, private capital, biotechnology, and rural economic development can intersect to support the growth of an emerging food technology company.
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