DGAP-News

Burcon Announces Board Change and Provides Business Update - Seite 2

"It has been an honour to serve as Burcon's Chairman of the Board during such an exciting period of growth," said Dr. Tyrrell, adding, "I look forward to continue to serve as a Director of Burcon as the company continues to be in the right food ingredient space at the right time."

"I'm excited to take on the role of Chairman of the Board of Directors at Burcon and will seek to build on the company's strong foundations and continue on its path as a pioneer and global leader in the plant-based protein ingredient industry," said Mr. Kappel.

Business Update

Plant-based foods and beverages, in literally every category, are now at the forefront of food culture around the globe. With the introduction of plant-based meat alternatives and plant-based dairy alternatives to quick service restaurant menus and mass-market retailers, vegetarian and vegan foods and beverages - traditionally the purview of natural product retailers - are now generally available for mainstream shoppers. As a result, food and beverage producers are searching for innovative plant-based ingredients to support consumer demand. Burcon's plant-based proteins, which are better-for-you and better-for-the-planet, fit perfectly with what today's consumer product companies are seeking.

Burcon's joint venture company, Merit Functional Foods, is successfully ramping up production volumes and sales at its new state-of-the-art plant protein production facility in Winnipeg, Manitoba. Merit's first of its kind facility, capable of producing high purity pea and canola proteins, using Burcon's technology, is close to operating on a 24/7 schedule and is on track to meet optimization targets. The highly differentiated Peazazz(R) and Peazac(R) pea proteins and the Puratein(R) line of canola proteins, which are being produced at Merit's facility, are ideal for use as ingredients in innovative plant-based food and beverage applications. Consumer products using Merit's best-in-class pea and canola proteins are already appearing on store shelves and being enjoyed by consumers.