Veconomist the Vegan Business Magazine Stay Informed Stay Competative Get our Newsletter
advertisement

« Previous article
Instant Sports Nutri...
Next article »
Givaudan’s Thi...

2nd May 2024  Content supplied by: Burcon Nutrascience Corporation

HPS and Burcon Achieve First Commercial Sales of World’s First Hemp Protein Isolate


  • Burcon and HPS have achieved their first commercial sales of high-purity hemp protein.
  • Burcon is ramping up production to meet growing customer demand.
  • Consumer product launches featuring the high-purity hemp protein isolate are anticipated for the latter part of 2024.

Burcon NutraScience Corporation, a global technology leader in the development of plant-based proteins for foods and beverages, and HPS Food and Ingredients Inc. (“HPS”) have announced a significant milestone in their 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."

Prospective customers are encouraged to contact the HPS Sales Team directly for inquiries regarding product samples and information. Use the green "Request Information" button below to connect with Burcon.


    

Tags:

Date Published: 2nd May 2024

Source article link: View


View full company details


Related news