Burcon NutraScience and HPS Food and Ingredients have commercialized a 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.
"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 more information:
Burcon
1946 West Broadway, Vancouver, British Columbia, V6J 1Z2 CANADA
1.888.408.7960
burcon.ca