Burcon NutraScience Corp.
- WKN: 157793
- ISIN: CA1208311029
- Land: Kanada
Nachricht vom 13.01.2020 | 13:28
Burcon NutraScience Corp.: Merit Functional Foods Receives Co-Investment from Protein Industries Canada
DGAP-News: Burcon NutraScience Corp.
/ Key word(s): Miscellaneous
Vancouver, British Columbia, January 10, 2020 - Burcon NutraScience Corporation (TSX: BU), a global technology leader in the development of plant-based proteins, is pleased to share that its joint venture company, Merit Functional Foods Corporation ("Merit Foods") announced today that it has received a significant co-investment from Protein Industries Canada, which will help facilitate the rapid growth of Merit Foods.
Merit Foods was established in May 2019 as a joint venture with Burcon and three veteran food industry executives. Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon's novel pea and canola protein ingredients.
"The support we've received from Protein Industries Canada thus far has been outstanding, and it will be a crucial driver for our continued growth," Merit Foods Co-CEO Ryan Bracken said. "We're entering the new year grateful and determined, and we're eager to start offering our protein to the market when our facility is completed in the fourth quarter of 2020."
Protein Industries Canada is an industry-led, not-for-profit organization committed to positioning Canada as a global source of high-quality plant protein ingredients. It is one of Canada's five innovation superclusters, which are government-initiated efforts to significantly boost Canada's job market, GDP, groundbreaking research, and bold innovations.
"We are pleased to see Merit receive this valuable support from Protein Industries Canada," said Johann F. Tergesen, Burcon's president and chief executive officer, adding, "The state-of-the-art protein production facility that Merit is currently building in Manitoba will produce the first high-purity, non-GMO canola protein products for sale to customers across the globe, which will create a new value-added revenue stream for canola grown in Western Canada."
About Burcon NutraScience Corporation
Burcon is a global technology leader and innovator in the development of plant-based proteins. With over 270 issued patents and more than 260 additional patent applications developed over a span of more than twenty years, Burcon has grown an extensive portfolio of composition, application, and process patents covering novel plant-based proteins derived from pea, canola, soy, hemp, sunflower seed and more. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon's novel pea and canola protein ingredients. Learn more at https://www.burcon.ca .
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