Burcon NutraScience has commenced commercial production of its Peazazz C pea protein at its newly acquired manufacturing facility in Galesburg, Illinois. This marks the first time the company has had direct operational control over a commercial-scale production site.
Quick ramp-up and forecasts
The facility became operational less than three months after commissioning and is now ramping up output through the second half of 2025. The company projects between $1 million and $3 million in revenue for the calendar year 2025, and over $10 million in 2026. Positive cash flow is anticipated by the end of 2026.
“The successful startup of our Galesburg facility marks a key operational milestone in Burcon’s commercial scale-up. In less than 90 days since commissioning, our team has brought next-generation protein production online, enabling us to meet accelerating customer demand and unlock scalable revenue opportunities,” explained CEO Kip Underwood.
Burcon is currently in discussions to secure customer supply agreements as production scales, with the Galesburg plant providing the capacity to support long-term contracts and recurring revenue.
20:1 share consolidation
In addition to the launch of commercial production, Burcon also announced a 20:1 share consolidation that will take effect on June 11, 2025. The number of outstanding common shares will be reduced from approximately 253.8 million, with no fractional shares to be issued. Holdings will be rounded up or down depending on whether the post-consolidation amount exceeds or falls below 0.5 of a share.
Following the consolidation, Burcon’s shares will continue to trade under the same name and ticker symbol.
The company explained that the consolidation was approved by both the board and shareholders at its September 2024 annual general meeting. Peter H. Kappel, Chairman of the Board, said, “We are confidently advancing our strategic plan, and the Consolidation marks a key step in optimizing our capital structure and unlocking long-term value for shareholders.”
