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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Burcon NutraScience Corporation    BU   CA1208311029

BURCON NUTRASCIENCE CORPORATION

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Burcon NutraScience : Nestle announces collaboration with Burcon and Merit for plant-based ingredients

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01/24/2020 | 10:59am EDT

Nestle today announced a collaboration with Burcon and Merit, two key players in the development and production of high-quality plant proteins. This partnership will enable Nestle to further accelerate the development of nutritious and great-tasting plant-based meat and dairy alternatives with a favorable environmental footprint.

The partnership combines Nestle's expertise in the development, production and commercialization of plant-based foods and beverages with Burcon's proprietary plant protein extraction and purification technology, while leveraging Merit's state-of-the-art plant protein production capabilities.

'Developing nutritious and great-tasting plant-based meat and dairy alternatives requires access to tasty, nutritious and sustainable raw materials as well as proprietary manufacturing technology,' says Stefan Palzer, Nestle Chief Technology Officer. 'The partnership with Burcon and Merit will give us access to unique expertise and a new range of high-quality ingredients for plant-based food and beverages.'

Globally, Nestle has around 300 R&D scientists, engineers and product developers located in 8 R&D centers that are dedicated to the research and development of plant-based products. To complement its internal capabilities, the company also strategically collaborates with researchers, suppliers, start-ups and various other innovation partners.

Nestle's plant-based product range includes pea, soy- and wheat-based burger patties, sausages, mince meat, chicken filets and various prepared dishes. The company also developed pea and oat-based dairy alternatives, almond-, coconut- and oat-based creamers, plant-based coffee mixes as well as a range of non-dairy ice creams. It also recently announced its plans to launch vegan alternatives to cheese and bacon, designed to complement its existing plant-based burger patties.

Burcon Nutrascience is a global technology leader with a portfolio of patents related to composition, application, and manufacturing of novel plant-based proteins derived from pea, canola, soy, hemp, sunflower seed and various other crops.

Established in 2019, Merit Functional Foods provides the highest quality protein ingredients and blends that offer unmatched purity, exceptional taste, and excellent solubility.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (CAD)
Sales 2020 0,03 M
EBIT 2020 -
Net income 2020 -
Debt 2020 -
Yield 2020 -
P/E ratio 2020 -16,0x
P/E ratio 2021 -29,3x
Capi. / Sales2020 3 214x
Capi. / Sales2021 20,9x
Capitalization 85,2 M
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Mean consensus BUY
Number of Analysts 2
Average target price 2,88  CAD
Last Close Price 0,88  CAD
Spread / Highest target 269%
Spread / Average Target 227%
Spread / Lowest Target 184%
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Managers
NameTitle
Johann Franz Tergesen President & Chief Executive Officer
David Lorne John Tyrrell Chairman
Jade Cheng Chief Financial Officer & Treasurer
Martin Hans Schweizer Vice President-Technical Development
Mei Wah Chau Director
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