Vancouver, British Columbia--(Newsfile Corp. - October 7, 2024) - Burcon NutraScience Corporation (TSX: BU) (OTCQB: BRCNF) ("Burcon" or the "Company"), a global technology leader in the development of plant-based proteins for foods and beverages, is pleased to announce the launch of its Puratein® canola protein into the rapidly growing, multi-billion-dollar egg replacement market. Burcon's canola protein is well-suited for use in baked goods, offering food manufacturers a sustainable and cost-effective alternative to eggs.
Egg prices have surged due to supply challenges, with demand outpacing production in the U.S. Over the past two years, avian influenza outbreaks have significantly disrupted egg supplies. According to the U.S. Bureau of Labor Statistics and USDA data, the price of eggs in August 2024 increased by 57% year-over-year, while powdered whole egg prices rose by 15%. As a result, food manufacturers are actively seeking egg substitutes to mitigate supply shortages and price volatility.
Burcon's canola protein isolate, with over 90% protein purity and exceptional functionality, is a suitable egg replacement in bakery applications. In a side-by-side study, Burcon's canola protein has demonstrated the ability to replace up to 100% of powdered and shelled eggs, delivering cost-in-use savings of 20 - 30%. This great-tasting canola protein not only provides superior functionality and price stability but also offers a vegan-friendly option for consumers.
"We're thrilled to receive such positive customer feedback on the use of our canola protein as an egg protein replacer," said Kip Underwood, Burcon's chief executive officer. "The food industry has long sought a plant-based alternative to egg protein. Our canola protein not only serves as a replacement in traditional food applications but also enables the creation of superior, more sustainable plant-based alternatives, expanding new application possibilities."
About Puratein® Canola Protein Isolate
Burcon's canola protein isolate, a unique and unparalleled product, is derived from non-GMO, Canadian-grown canola seeds. It boasts a nutritionally complete amino acid profile, containing all nine essential amino acids and a protein digestibility amino acid score (PDCAAS) of 1. With over 90% protein purity, a neutral flavor, high solubility across a broad pH range, superior foaming, and exceptional functionality, this protein isolate is a game-changer. It allows for creating a wide range of innovative, nutritious, sustainable, and great-tasting food and beverage products.
About Burcon NutraScience Corporation
Burcon is a global technology leader in the development of plant-based proteins for foods and beverages. Our proteins exhibit superior functionality, taste and nutrition, making them ideal ingredients for food formulators. With over two decades of experience, Burcon has amassed an extensive patent portfolio covering its novel plant-based proteins derived from pea, canola, soy, hemp and sunflower seeds, among other plant sources. Burcon is committed to delivering next-generation, best-in-class protein solutions, positioning itself as a key player in the rapidly expanding plant-based market. Supporting the growing trend towards a plant-based diet, Burcon offers sustainable protein ingredients that we believe are better for you and better for the planet. For more information, visit www.burcon.ca.
Forward-Looking Information Cautionary Statement
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 or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements or forward-looking information involve risks, uncertainties and other factors that could cause actual results, performances, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements or forward-looking information can be identified by words such as "anticipate," "aim", "intend," "plan," "goal," "project," "estimate," "expect," "believe," "future," "likely," "may," "should," "could," "will" and similar references to future periods. All statements included in this release, other than statements of historical fact, are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements or information. Important factors that could cause actual results to differ materially from Burcon's plans and expectations include the implementation of our business model and growth strategies; trends and competition in our industry our future business development, financial condition and results of operations and our ability to obtain financing cost-effectively; potential changes of government regulations; and other risks and factors detailed herein and from time to time in the filings made by Burcon with securities regulators and stock exchanges, including in the section entitled "Risk Factors" in Burcon's annual information form for the year ended March 31, 2024 and its other public filings with Canadian securities regulators on SEDAR+ at www.sedarplus.ca. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Any forward-looking statement or information speaks only as of the date on which it was made, and, except as may be required by applicable securities laws, Burcon disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Although Burcon believes the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance, and, accordingly, investors should not rely on such statements.
Industry and Investor Contact
Paul Lam
Director, Investor Relations and Communications
Burcon NutraScience Corporation
Tel (604) 733-0896, Toll-free (888) 408-7960
plam@burcon.ca www.burcon.ca
Media Contact:
Steve Campbell, APR
President
Campbell & Company Public Relations
Tel (604) 888-5267
TECH@CCOM-PR.COM
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SOURCE: Burcon NutraScience Corporation
