Burcon NutraScience and Archer Daniels Midland have completed their licensing and development agreement, designed to bring Burcon's canola protein ingredients to market.
The arrangement, first announced in March, gives ADM the exclusive right to produce, promote, market and sell the products worldwide. The company will also develop applications for the products, obtain regulatory approvals and construct one or more full-scale production facilities to produce
Burcon's Puratein and Supertein canola protein isolates, as well as special grades of the products and derivatives.
"This agreement marries ADM's strengths in the development, production, sales and marketing of specialty food ingredients with Burcon's novel protein extraction technology," said Johann F. Tergesen, Burcon's president & COO. "Together, our objective is to chart a path through the final development process that will ensure speed to market for our products."
Canola, recognized for its nutritional qualities, is the second-largest oilseed crop in the world after soybeans. ADM is one of the world's largest processors of canola and Burcon has developed a process to extract and purify valuable proteins from canola meal, a co-product of the canola crushing process.
Protein ingredients are used in a wide variety of foods, personal care products and other commercial and industrial applications. The protein ingredient industry is currently experiencing rapid growth and estimates of the global market for protein ingredients now exceed $10 billion.
Earlier this week Burcon announced its intention to list on the Frankfurt stock exchange in Germany in order to increase its profile with both private and institutional investors across Europe.