BioExx Submits Patent Application to Produce Protein Concentrates from Toasted Meal
November 11 2009 - 4:02PM
Marketwired
Bio-Extraction Inc. (TSX VENTURE: BXI)("BioExx" or "the Company")
is pleased to announce that it has filed a significant new patent
application allowing for the production of Protein Concentrates (up
to 70% purity) from oilseed meal produced in conventional,
higher-temperature, processing facilities. While this technology
would not be used in the specialty low-temperature processing
facilities to be constructed and operated by BioExx, this does
represent an opportunity for BioExx to leverage its intellectual
property through licensees to rather simply and significantly
increase the value of the meal produced in existing conventional
facilities. This value increase is enabled by the ability to
process conventional meal, which is primarily sold as lower value
animal feed, to produce Protein Concentrates which may sell for
three to five times the price of meal.
The initial licensing focus of the Company will be on canola and
rapeseed meal markets. With 2007/08 crop year global production of
conventional canola and rapeseed meal at 27.7 million metric tonnes
(source: USDA), this represents a potentially significant and
complementary new source of passive licensing revenue for BioExx
over the medium to long term, in addition to the revenues from its
core business of owning and operating high-value protein isolate
production facilities.
Due to the fundamental limitations created by high temperature
canola and rapeseed processing, the Protein Concentrates produced
by this new method would be suitable only for use in specialty feed
markets, and not suitable for the human-food Protein Isolate
markets which are the core business and key focus of BioExx. It is
not possible with this technology to produce the higher-value
BioExx Protein Isolates, which are a completely different product,
with much higher purity, solubility, and a significantly different
amino acid profile. Although this new patent-pending process was
created as an offshoot of the BioExx development work in that area,
when these novel methods were modified for extension to standard
toasted meal as an input, a high quality Protein Concentrate was
created. The product shows a strong nutritional profile, suitable
for specialty feed applications, with low anti-nutritional factors
and a mix of soluble and insoluble protein.
BioExx believes that the new process technology may be made
available as a relatively simple retrofit onto the back end of
conventional canola processing facilities, and with a capital and
operating cost profile that would drive an attractive return on
investment for licensees. Without compromising its efforts on the
primary business of constructing and operating additional and
larger facilities to produce high-value protein isolates, BioExx
plans to spend the next year working confidentially with selected
licensees to fully develop this unique new technology, with a
targeted initial commercialization within the next 24 months.
Licensing in this manner is also intended to enable deployment and
revenue generation without any significant additional capital
expenditure by BioExx.
"While we are very excited about this new development, we have
no intention of letting it impair our very strong progress or our
timetable for protein isolate production in Saskatoon. Given that
our team was able to complete this project in less than six months
and at minimal cost, we see it as indicative of the broad reach of
potential advancements that can and will be achieved through the
application of our unique and growing portfolio of intellectual
property," said BioExx CEO, Chris Carl. "Our team remains firmly
committed to and highly confident in the successful
commercialization of our protein isolate production in Saskatoon in
mid Q1 2010, and all work in that regard is proceeding well and
according to plan."
Patent Portfolio Update
BioExx also recently filed two additional patent applications
that are directly related to the specialty proteins to be produced
at BioExx facilities, bringing the total number of patents issued
and pending to ten.
The increasingly broad patent portfolio that BioExx has
developed protects its very unique and proprietary processes and
products. The scope of this portfolio now covers:
-- Protection of scalable, economic low temperature extraction methods
-- Protection of unique solvent combinations to effect such extractions
-- Protection of unique solvent separation and recovery methods
-- Protection of unique methods of producing protein concentrates, protein
isolates and hydrolyzed protein extracts from oilseeds
-- Protection of the unique products resulting from the foregoing processes
The BioExx protein patent claims also cover rapeseed, mustard
seed, soy, and flax and hence are not limited to canola
protein.
The BioExx process that is being deployed for commercial protein
isolate production does not use high temperatures or process
additives that cannot be fully removed from the end products, and
specifically does not use salt solutions, in any form, at any stage
in the process. The processes and products that BioExx has
developed have undergone extensive scientific and legal review,
including substantial product testing, to confirm their unique
properties and assessment of freedom to operate in the
marketplace.
About Bio-Extraction Inc.
Headquartered in Toronto, Canada, BioExx is a leading technology
and industrial processing company focused on the extraction of oil
and high-value proteins from oilseeds for the global food,
beverage, and nutrition markets. BioExx's 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's low energy requirements,
environmentally sound process, and high-yield production have the
potential to make a valuable contribution to global food and
protein markets. BioExx operates a commercial scale 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, competition in its
target markets, the demand for BioExx's products, the availability
of funding, the efficacy of its technology, and the anticipated
costs of BioExx's 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's expectations and projections."
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Bio-Extraction Inc. Chris Schnarr Chief Financial
Officer (416) 588-4442 x111 cschnarr@bioexx.com Investor Relations:
Scott Koyich President, Brisco Capital Partners (403) 262-9888
scott@briscocapital.com
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