Vancouver, British Columbia–(Newsfile Corp. – April 29, 2024) – Burcon NutraScience Corporation (TSX: BU) (“Burcon” or the “Company”), a global technology leader in the development of plant-based proteins for foods and beverages, and HPS Food and Ingredients Inc. (“HPS”) are proud to announce a significant milestone in its partnership to commercialize the world’s first high purity hemp protein isolate. Burcon and HPS have achieved their first commercial sales of hemp protein, tapping into a rapidly growing multi-billion dollar addressable market.
Through Burcon’s capital-light approach, the Company is bringing its best-in-class hemp protein to market, poised to capture recurring revenue from ingredient sales. By establishing commercial capabilities and scaling up production, Burcon has successfully developed a route-to-market that enables speed and influence over the manufacture of its proteins. In response to strong customer interest, which has surpassed initial expectations, Burcon is in the process of ramping up production to meet the growing demand.
“Today’s announcement is a pivotal moment for us and the hemp industry as we begin commercial sales of the world’s first hemp protein isolate,” said Kip Underwood, Burcon’s chief executive officer. “This achievement is the first proof point that directly validates Burcon’s capital-efficient business model, proprietary technologies and unit economics. As we begin generating revenue, we are keenly focused on clearing the next milestones in our journey to becoming a profitable, market-leading plant protein company.”
Burcon’s high purity hemp protein offers versatile applications across a range of food and beverage categories. Initial target markets for our 95% hemp protein isolate include ready-to-mix, powdered beverages, ready-to-drink beverages, and dairy alternatives. With its exceptional taste, texture and color, it can seamlessly integrate into a wide range of formulations. Consumer product launches featuring Burcon’s hemp protein are anticipated for the latter part of 2024.
“We are thrilled to begin commercial sales of this amazing hemp protein isolate,” said Marc van Burck, HPS’s chief executive officer. “Our customers have been impressed and are actively formulating into consumer products. This accomplishment underscores our commitment to delivering innovative, sustainable, and nutritious plant-based solutions to our customers.”
For inquiries regarding product samples and information, prospective customers are encouraged to directly reach out to HPS Sales Team here.
