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Burcon NutraScience Corp
Symbol BU
Shares Issued 108,726,742
Close 2022-04-07 C$ 1.03
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Burcon receives co-investment for protein development

2022-04-07 12:39 ET - News Release

Mr. Steve Campbell reports

BURCON RECEIVES CO-INVESTMENT FROM PROTEIN INDUSTRIES CANADA TO DEVELOP FOOD-GRADE HIGH PURITY PROTEINS FROM SUNFLOWER SEEDS

Burcon NutraScience Corp. has received a co-investment from Proteins Industries Canada for the development of high-quality protein ingredients from sunflower seeds.

The $1-million project will see Burcon partnering with Pristine Gourmet, a processor of 100-per-cent pure Canadian non-genetically-modified-organism (GMO) cold pressed virgin oils, to further develop Burcon's novel process for the production of sunflower protein ingredients. Premium sunflower protein isolate, that contains greater-than-90-per-cent protein purity and has exceptional taste and functionality, has the potential of setting a new benchmark in the growing plant-based ingredients market. Leveraging Burcon's core protein extraction and purification platform, the project intends to fine-tune and scale up an economical extraction and isolation process arising from the byproduct (pressed cake) of sunflower oil production.

"Sunflower protein checks all the boxes as an ideal source of plant-based protein," said Peter H. Kappel, Burcon's interim chief executive officer and chairman of the board, adding: "With this investment, Burcon and Pristine Gourmet can accelerate the development of value-added premium protein ingredients coming from a byproduct normally used as animal feed."

Protein Industries Canada's co-investment further supports Canadian innovation in the development of cutting-edge food technologies and patent-pending processes to develop products that are unique in the global plant-based protein marketplace.

"Canada's plant-based food and ingredients sector has seen tremendous growth over the past several years, thanks largely to the innovation shown by our entrepreneurs and researchers," Protein Industries Canada chief executive officer Bill Greuel said. "The development of new ingredients, processing technologies and food products is key to seeing this growth continue. As our companies work together to bring these developments from idea to full-scale implementation, Canadians can look forward to a strengthened economy, new healthy and sustainable options on grocery store shelves, and an increased ability to meet the growing global demand for plant-based protein."

Sunflower protein ingredients are naturally non-GMO, have a favourable taste profile, low allergenicity, are particularly label-friendly, and are easily understood and accepted by consumers. As the world's third largest oilseed crop, behind soy and canola, sunflower seed has significant potential to be a major source of protein within the plant-based food revolution. Sunflower seed proteins produced using Burcon's extraction technology exhibit unique and potentially valuable functional characteristics as well as a nutritional profile similar to that of canola protein. Unlocking the potential of protein present in sunflower seed for mainstream food ingredient applications could mean that the company would be unlocking vast quantities of novel plant protein worldwide.

About Burcon NutraScience Corp.

Burcon is a global technology leader in the development of plant-based proteins for foods and beverages. With over two decades of experience formulating high-purity proteins that have superior functionality, taste and nutrition, Burcon has amassed an extensive patent portfolio covering its novel plant-based proteins derived from peas, canola, soy, hemp and sunflower seeds, among other plant sources. In 2019, Merit Functional Foods Corp. was established between Burcon and three veteran food industry executives. Merit Foods has since built and commissioned a state-of-the-art protein production facility in Manitoba, Canada, that is producing, under a licence from Burcon, best-in-class pea and canola proteins for the food and beverage industries.

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