Burcon NutraScience Corporation has entered into a binding agreement with ProMan for the acquisition and operation of a protein production facility in North America. The facility will be dedicated to manufacturing Burcon’s portfolio of plant-based protein ingredients.
“This is truly a transformative opportunity for Burcon that will accelerate our capital-light strategy”
Under the terms of the agreement, ProMan will purchase the facility and grant Burcon exclusive access to its full manufacturing capacity. Burcon will operate as the exclusive manufacturer of its protein products, with a seven-year initial manufacturing term.
Burcon CEO Kip Underwood described the agreement as a key step in the company’s growth strategy. “By pairing a strategic real estate investment with a proven go-to-market approach in food technology, we are seizing the best opportunity in our history to establish a direct route to market for our innovative protein technologies,” he stated.
The production facility, once acquired, will process plant proteins using locally sourced raw materials from North America. It will also have the capability for modular expansion, allowing Burcon to scale production as demand increases. The company expects to complete the installation of proprietary processing operations and commence commercial-scale production following the facility’s acquisition.
Financial projections and growth strategy
Burcon projects first-year sales of $1–3 million, with double-digit revenue growth anticipated in the second year. The company aims to achieve gross margins exceeding 50% as production capacity utilization increases, with profitability and positive cash flow targeted for 2026.
ProMan is led by John Vassallo, a Burcon director and shareholder. “This partnership reflects our strong belief in the future of sustainable, plant-based nutrition and Burcon’s ability to lead in the fast-growing, multi-billion-dollar protein ingredients industry,” Vassallo said.
Building on recent partnerships
The agreement builds on Burcon’s previously announced alliance with a strategic investor group, first disclosed in November 2024. At the time, the company stated its intention to acquire and operate a protein production facility to scale up its portfolio of plant-based protein ingredients.
In addition to this latest development, Burcon has recently expanded its industry partnerships, including a collaboration with global ingredients provider Puratos to advance canola protein innovation and the launch of Solatein, a sunflower protein isolate.
Underwood continued, “This is truly a transformative opportunity for Burcon that will accelerate our capital-light strategy. With expanded capacity and full control of a protein production facility, we can launch our entire suite of unique protein ingredients to market.”
