Burcon NutraScience has commenced business manufacturing of its Peazazz C pea protein at its newly acquired manufacturing facility in Galesburg, Illinois. This marks the primary time the corporate has had direct operational management over a commercial-scale manufacturing web site.
Fast ramp-up and forecasts
The power turned operational lower than three months after commissioning and is now ramping up output by way of the second half of 2025. The corporate initiatives between $1 million and $3 million in income for the calendar yr 2025, and over $10 million in 2026. Optimistic money circulate is anticipated by the tip of 2026.
“The profitable startup of our Galesburg facility marks a key operational milestone in Burcon’s business scale-up. In lower than 90 days since commissioning, our workforce has introduced next-generation protein manufacturing on-line, enabling us to fulfill accelerating buyer demand and unlock scalable income alternatives,” defined CEO Kip Underwood.
Burcon is at the moment in discussions to safe buyer provide agreements as manufacturing scales, with the Galesburg plant offering the capability to help long-term contracts and recurring income.
20:1 share consolidation
Along with the launch of business manufacturing, Burcon additionally introduced a 20:1 share consolidation that can take impact on June 11, 2025. The variety of excellent widespread shares will likely be diminished from roughly 253.8 million, with no fractional shares to be issued. Holdings will likely be rounded up or down relying on whether or not the post-consolidation quantity exceeds or falls under 0.5 of a share.
Following the consolidation, Burcon’s shares will proceed to commerce underneath the identical title and ticker image.
The corporate defined that the consolidation was accepted by each the board and shareholders at its September 2024 annual normal assembly. Peter H. Kappel, Chairman of the Board, mentioned, “We’re confidently advancing our strategic plan, and the Consolidation marks a key step in optimizing our capital construction and unlocking long-term worth for shareholders.”
