The Canadian government has announced financing of almost $100 million for Merit Functional Foods, a producer of plant protein, for its previously announced new Winnipeg facility which will reportedly produce the world’s highest purity and highest quality pea and canola protein. Merit’s CEO states the facility will “redefine plant protein”.
Burcon Finalizes Agreement for North American Protein Production Facility
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. 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 …