Burcon NutraScience Corporation (Burcon) has said demand for its plant-based protein ingredients is accelerating, with quarterly sales on track to grow 50% and production capacity reaching record levels as the company advances its commercialisation strategy.
The company announced its "continued commercial and operational momentum," highlighting that sales in April and May were significantly higher than in the previous quarter.
It also added that it expected calendar Q2 sales to be about 50% higher than Q1, with more customers testing, buying and reordering products.
"Approximately 50% growth in sales compared to the previous quarter, combined with record production performance, reflects the continued transition of Burcon from technology development to commercial-scale ingredient sales," said Kip Underwood, CEO of Burcon.
As demand continues to expand across our Peazzaz, FavaPro and Puratein protein ingredients, we remain focused on scaling production efficiently, supporting customer growth and executing on our path toward profitability.
The company said its protein ingredients are currently being utilised across various applications, including ready-to-mix beverages, powdered nutrition products, nutrition bars, snacks, baked goods and plant-based foods.
Burcon added that the demand across its portfolio reflects the broad commercial applicability of the company's protein technologies and growing market demand for high-performance plant-based protein ingredients that deliver nutrition, functionality and taste.
Burcon has not only seen commercial growth but also set a new production record in collaboration with its manufacturing partner, Re ProMan LLC.
During the past couple of weeks, the company said that production had exceeded the average daily output for calendar Q1 by approximately 60%.
This achievement highlights ongoing improvements in manufacturing efficiency, production throughput and process optimisation.
However, Burcon did note in its release that the firm will require "additional capital resources to support future expansion opportunities and working capital requirements."
