Bio-Extraction Inc. (TSX VENTURE: BXI) ("BioExx" or "the Company")
is pleased to announce that it has successfully produced at pilot
scale a very unique and high-value canola protein isolate
("ISOLEXX(TM)") and hydrolyzed protein concentrate
("VITALEXX(TM)"). Third-party product testing suggests that
ISOLEXX(TM) is superior across a range of parameters when compared
to soy protein isolates which currently dominate the vegetable
protein market. In fact, on particular metrics, ISOLEXX(TM)
compares favourably with whey protein isolates, which are dominant
at the high end of the isolate market.
Characteristics of ISOLEXX(TM), as tested, include:
- Protein Purity of 92.8%.
- Strong nutritional profile, comparing favourably to soy,
casein (cow's milk), and other high-end protein sources.
- Excellent amino acid profile, being balanced and capable of
providing adequate amounts of all the essential amino acids.
- Possessive of higher levels of key amino acids such as valine,
methionine, leucine and isoleucine, which are important in muscle
building, and threonine which is important for brain activity, as
well as the sulphur-containing amino acids cysteine and methionine
which are known to have powerful anti-oxidant properties.
- Excellent solubility, which increases the bio-availability
(i.e. the body's ability to absorb and utilize a protein), and also
provides an indicator of the ability of the product to dissolve in
various liquids under various conditions.
- Very low levels of anti-nutritional factors, especially as
compared to soy, which inhibit the body's ability to benefit from
the available proteins.
- Low in fat, carbohydrates, sugar, salt, calories, gluten free,
lactose free, non-allergenic.
- Excellent functional properties, including emulsifying,
foaming and foam stability, gel formation and firmness, water
immobilization, and water binding - generally better than soy
protein isolate and in some cases superior to eggs and to whey
protein isolate.
- Clean/bland taste, with no discernable odor often associated
with vegetable proteins.
Potential product uses include nutritional beverages,
nutritional supplements, infant formulas, meat products and meat
substitutes, baked goods, sauces and creams, confectionaries, milk
and egg replacers, laundry detergents, conditioning shampoos, hand
creams, and skin cleansers.
BioExx has also developed and produced, at lab scale, Hydrolyzed
Protein Concentrates ("VITALEXX(TM)"), at a purity of 88.8%. As
part of the same production process, protein molecules are
separated into two groups, those which are water soluble at
alkaline pH and those which are water insoluble at alkaline pH.
Water soluble proteins are produced into isolates, while water
insoluble proteins are produced into VITALEXX(TM) by hydrolyzing
the proteins into amino acids and peptides. VITALEXX(TM) shows high
solubility across wide pH range, from acidic to neutral to alkaline
conditions, as well as excellent digestibility. It is expected to
be a particularly suitable ingredient for infant formula, and
nutritional beverages such as protein fortified soft drinks, fruit
juices, sports drinks and other protein enhanced beverages.
"We are very pleased to be able to share this watershed news
today. Although we still have work to do in regulatory matters and
to optimize the product for selected applications, we now have a
clear path to the delivery of these two unique, superior, and very
high value products to our market", said Chris Carl, BioExx CEO.
"This materially changes the economic landscape of the BioExx
business. The ability to produce superior quality Isolates and
HPC's from the same feedstock that at present is used primarily to
produce oil and animal feeds represents a quantum leap in the food
value obtained from a pre-exiting agricultural crop. To have proven
that this is now viable at a pilot scale, with a commercial scale
facility already in its initial stages represents a stage of
development which only BioExx has been able to achieve."
These results also underscore the strong commitment BioExx has
made in R&D led by its VP Business Development Samah Garringer,
its Director of R&D Laurence Parslow, and its team of third
party experts including POS Pilot Plant in Saskatoon and the Feeds
Innovation Institute at University of Saskatchewan. Additional
product testing was also completed at the University of Alberta,
EUROFINS Scientific, and the German Institute for Food
Technology.
The superior BioExx protein products have their origins in the
unique low-temperature and patented BioExx oil extraction
technology, which avoids negative changes in the properties of the
proteins that are typically caused in traditional, higher
temperature oil extraction processes. This results in an "improved
starting point" to separate proteins from the meal that remains
after the oil extraction. This has helped facilitate the
development of a unique and simplified process for protein
separation, and also results in very unique canola proteins.
This simplified approach and much improved process and products
are the subject of a U.S. patent-pending, as filed in May, 2008.
The BioExx process and products have been subjected to extensive
third-party scientific and legal review and scrutiny, including a
detailed review of relevant and published prior art.
BioExx intends to produce these two products at all of its
production facilities, beginning in early 2011, including its
40,000 MT per year Saskatoon facility. Leading up to that date,
BioExx will work with its major protein customer, Helm AG, as well
as end users and other potential customers to optimize the products
for their highest-and-best-use applications. In addition, BioExx
will work towards GRAS standing with the US FDA (and equivalent
authorities in Canada and the EU), to facilitate the use of
ISOLEXX(TM) and VITALEXX(TM) as food ingredients.
"We have completed a battery of tests on the BioExx canola
protein isolate and believe it is a very good and unique product",
said Mr. Thomas Arnold, Executive Director Nutrition of Helm AG.
"We look forward to working with BioExx and our customers to
conduct further studies to tailor the product for our targeted
high-value applications, and ultimately to delivering a very strong
product which is in great demand in the markets we serve."
Early production yield estimates suggest BioExx would produce
approximately 60 kg of CPI and 120 kg of HPC for each metric tonne
of canola seed processed. Current market pricing is found in the
range of $6,000 - $8,000 per metric tonne for CPI and $4,000 -
$6,000 per metric tonne for HPC's. At the low end of this price
range, this represents potential additional and incremental revenue
from proteins at the 40,000 MT per year Saskatoon facility of
approximately $25 million per year, versus feed-grade protein
concentrate products.
About Bio-Extraction Inc.
Headquartered in Toronto, Canada, BioExx is a leading technology
company focused on the extraction of oil and high-value proteins
from oilseeds for the global food market. BioExx' patented
technology allows for the use of significantly lower temperatures
than conventional methods in extracting the active ingredients and
oils from oilseeds, resulting in higher yields and higher-quality
meal, oils and proteins. BioExx' low energy requirements,
environmentally sound process, and high-yield production have the
potential to make a valuable contribution in alleviating food
scarcity. BioExx operates a commercial scale extraction facility in
Saskatoon, Saskatchewan, and has a mission to construct additional
and larger processing facilities on a global basis. To find out
more about Bio-Extraction Inc. (TSX VENTURE: BXI), please visit
www.bioexx.com.
The statements made in this press release include
forward-looking statements that involve a number of risks and
uncertainties. These statements relate to future events or future
performance and reflect management's current expectations and
assumptions. A number of factors could cause actual events,
performance or results to differ materially from the events,
performance and results discussed in the forward-looking
statements, such as the economy, generally, the demand for BioExx'
products, the availability of funding, and the anticipated costs of
BioExx' plant construction and operation. These forward-looking
statements are made as of the date hereof and BioExx does not
assume any obligation to update or revise them to reflect new
events or circumstances. Actual events or results could differ
materially from BioExx' expectations and projections.
The TSX Venture Exchange has not reviewed this press release and
neither approved nor disapproved the information contained in this
press release.
Contacts: Bio-Extraction Inc.: Chris Schnarr Chief Financial
Officer (416) 588-4442 x111 cschnarr@bioexx.com www.bioexx.com
Investor Relations: Brisco Capital Partners Scott Koyich, President
(403) 262-9888 scott@briscocapital.com The Equicom Group Inc. Glen
Williams (416) 815-0700 x272 gwilliams@equicomgroup.com
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