Burcon Updates on Peazazz(TM) Pea Protein First Commercial Production Facility
VANCOUVER, British Columbia, Jan. 29, 2013 (GLOBE NEWSWIRE) -- Burcon
NutraScience Corporation (TSX:BU) (Nasdaq:BUR) ("Burcon") reports today that
it has commenced building a Peazazz semi-works production facility: a first
commercial-scale plant to produce Peazazz^TM, the world's premier pea protein
that offers exceptional usability and high-quality protein nutrition. The
transparent, pea protein is expected to be available for customers looking to
purchase commercial-scale market development quantities beginning in July of
Planning and engineering for this semi-works production plant began in the
summer of 2012. Equipment orders are now in-place and, subject to timely
delivery, Burcon projects to have the facility completed and operational by
"Since announcing Peazazz in November 2011, interest from potential customers
for a clean-tasting, transparent pea protein has been very encouraging," said
Johann F. Tergesen, president and chief operating officer, adding, "Creating a
dedicated plant to produce our Peazazz product will allow us to grow customer
demand for this innovative protein."
The Peazazz semi-works plant, which is being built in Winnipeg, Manitoba, will
enable Burcon to provide market development quantities (tonnage amounts) to
customers for product and market development activities. Burcon has gained a
great deal of experience in ramp up production over the last two years, with a
highly competent production team, headed by Burcon's senior vice president
process, Randy Willardsen.
Peazazz is created through a proprietary patent-pending process that delivers
a highly purified product with a greater than 90 percent protein concentration
on a moisture-free basis. The Peazazz protein extraction technology produces
a pea protein that has exceptional flavor characteristics and is completely
soluble and transparent in beverage applications with a pH below 4.0.
Burcon intends to launch and demonstrate Peazazz at the 2013 IFT Annual
Meeting and Food Expo in Chicago in July.
In August 2012 Burcon announced the signing of a non-binding letter of intent
with an unnamed potential commercial partner with the intention of
commercializing Burcon's Peazazz with that partner.In that regard, Burcon
also announces today that it has formally requested to terminate that letter
of intent and to thereby terminate the requirement that Burcon negotiate
exclusively with that partner.
The economics of the plant protein industry continue to improve as a result of
steady increases in the pricing of mainstream animal protein ingredients,
dairy protein and egg protein, and this is a trend that is expected to
continue.The implied economic value of Burcon's pea protein extraction
technology is supported by the combination of an increasing demand for protein
ingredients and the simultaneous increase in price of competing protein
ingredients.Burcon is investigating multiple avenues for commercializing
Peazazz including alternatives ranging from licensing the technology to an
existing producer or through a joint venture or the possibility of building a
future full-scale production facility on its own.
"Opening up new options to commercialize this exciting protein while we
accelerate our production efforts is a smart strategy," said Brad Allen,
Burcon's lead director, adding, "Our first commercial Peazazz production
facility, expected to come online later this year, will allow us to explore
many more partnering opportunities while preserving the option of
commercializing this exciting protein on our own."
Peazazz™ is 100% soluble, transparent and heat stable in low pH solutions.
Peazazz™ has clean flavour characteristics and is well suited for use in low
pH beverages as well as a variety of other healthy and great tasting food and
beverage product applications. Its valuable nutritional and functional
characteristics make Peazazz™ an attractive product for food and beverage
producers looking for an alternative plant protein ingredient.
Pea is a widely accepted and consumed vegetable, recognized for its
nutritional value and health benefits. Field peas (otherwise known as dry
peas) belong to the family of cool season legume crops commonly referred to as
pulses, which includes lentils, fababeans, kidney beans and chickpeas. Canada
is among the largest producers of field peas in the world along with Europe
and Asia with Canadian production now regularly exceeding two million tonnes
Food ingredient processors recognize the high protein content in peas and have
been extracting pea protein for almost 40 years. Today, a variety of food
products contain pea protein including: snacks and cereals; weight management
products; as well as gluten-free, vegetarian and vegan foods. Not only are
peas high in protein, fibre, starch, vitamins and minerals, but they are also
non-allergenic and are grown sustainably.
Peazazz™ pea protein can easily be incorporated into a variety of foods and
beverages including low pH fruit juices and juice blends, sport nutrition
drinks, powdered beverages, fortified waters, bars, baked goods and vegetarian
and vegan foods.
Protein ingredients are valued by the food and beverage industry for two
fundamental properties: nutrition and function.
Nutritionally Peazazz™ is consistent with existing pea proteins which are
valued for their high digestibility and low potential for allergic responses,
Peazazz™ pea protein isolate is also from a non-GMO source.
Functionally Peazazz™ lends itself to numerous potential applications due to
its unique solubility and clean flavour profile.
Pea protein is widely accepted by food processors and consumers alike. The
quest for healthier lifestyles has led consumers to search for alternatives to
animal proteins. This factor – the pursuit of health and wellness in food
products – is expected to drive and sustain the market demand for Peazazz™,
which can be incorporated into a wide variety of beverage and food products.
For more information about Peazazz, visitwww.burcon.ca
About Burcon NutraScience
Burcon is a leader in nutrition, health and wellness in the field of
functional, renewable plant proteins. Since 1999, Burcon has developed a
portfolio of composition, application, and process patents originating from
our core protein extraction and purification technology. We have developed
CLARISOY™ soy protein, which offers clarity and complete protein nutrition for
low pH beverage systems; Peazazz™ a uniquely soluble and clean-tasting pea
protein and Puratein®, Supertein™ and Nutratein™ canola protein isolates with
unique functional and nutritional attributes. Our team of highly specialized
scientists and engineers work from our private research facility to develop
and optimize environmentally sound technologies. To-date, our patent portfolio
consists of 217 issued patents in various countries, including 36 issued U.S.
patents, and in excess of 400 additional pending patent applications, 80 of
which are U.S. patent applications.
CLARISOY™ is under license from Archer Daniels Midland Company.
CLARISOY™ is a trademark of Archer Daniels Midland Company.
ON BEHALF OF THE BOARD OF DIRECTORS
"Johann F. Tergesen"
Johann F. Tergesen
President and Chief Operating Officer
The TSX has not reviewed and does not accept responsibility for the adequacy
of the content of the information contained herein. This press release
contains forward-looking statements that involve risks and uncertainties.
These forward-looking statements relate to, among other things, plans and
timing for the introduction or enhancement of our products, statements about
future market conditions, supply and demand conditions, and other
expectations, intentions and plans contained in this press release that are
not historical fact. Our expectations regarding the prospect for future
success depend upon our ability to develop and sell products, which we do not
produce today and cannot be sold without further research and development.
When used in this press release, the words "goal", "intend", "believes" and
"potential" and similar expressions, generally identify forward-looking
statements. These statements reflect our current expectations. They are
subject to a number of risks and uncertainties. In light of the many risks and
uncertainties surrounding the development of a source of protein from canola
meal, you should understand that we cannot assure you that the forward looking
statements contained in this press release will be realized.
CONTACT: Michael Kirwan, Director, Corporate Development
Burcon NutraScience Corporation
(604) 733-0896 / (888) 408-7960 toll-free
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