BioPower Operations Corporation announced execution of multiple agreements with PIP North America (PIP) to raise funds in a non-dilutive manner through HyFi's new DeFi ILO marketplace technology platform and includes undisclosed technology licensing options for HyFi's Vault and DeFi marketplaces and stock and token purchases. Focused initially on raising funds for PIP's large scale yellow pea wet fractionation processing facility, PIP will have conditional exclusive rights and renewal options to the agriculture sector. During the term of the agreement, PIP will work closely with HyFi's team to fully execute and maximize global funding channels to meet PIP's accelerated growth plans.

PIP's large-scale production will commence in late 2023 to fulfil the growing demand for pea protein isolate and derivative products. Demand for high-quality pea protein isolate has increased dramatically in recent years with the popularization of plant-based diets and increasing consumer awareness regarding nutritional benefits offered by pea proteins. The lack of investment in the agriculture sector specifically prevents plant-based market growth.

HyFi and PIP aim to bring a solution to this funding problem. Solving this problem is a key factor to successfully drive the growth of the pea protein market worldwide.