BioExx Specialty Proteins Ltd.
TSX : BXI

BioExx Specialty Proteins Ltd.

September 07, 2010 07:00 ET

BioExx Successfully Completes First End-To-End Production at Saskatoon Plant

TORONTO, ONTARIO--(Marketwire - Sept. 7, 2010) - BioExx Specialty Proteins Ltd. (TSX:BXI) is pleased to announce that it has successfully produced commercial-scale canola protein isolate in its first complete end-to-end protein production run at its Saskatoon plant. The protein produced was tested in the BioExx lab for purity and was corroborated at the independent testing facilities of POS Pilot Plant Corp. These results are more desirable than the prior run as they are above 90% but more consistent with the Company's published commercial product specifications and operating targets. Protein yields were slightly lower than on the prior run due to some product losses resulting from a modification to equipment settings during the run, but yield is expected to fluctuate within a small range as adjustments are made leading to continuous operation, at which time yields are expected to meet or exceed targets.

The protein isolate was produced using each of the three full-scale commercial sections of the BioExx plant, including Pressing, Extraction, and Protein Processing. The run, which included both batch and for the first time, some continuous processing, was the largest so far using a seed input quantity of 2.5 metric tonnes. This is also the first production where all sections of the plant were utilized in the normal operating sequence and therefore provides the most compelling evidence to date of the efficacy of each of the processing sections working in concert.

This run was also significant because it utilized the full size commercial extraction system for the first time. The operating team was very pleased with how well the extraction plant performed, as oil content of extracted meal was below 2%, ahead of the commercial operating plan of 3% or lower.

BioExx will now continue its methodical ramp-up of the Saskatoon plant, focussed on activities leading to the production and shipment of food grade proteins from the plant on a continuous commercial basis. These activities include:

  • moving from batch to fully continuous production, albeit at low volumes initially
  • completing work on ancillary systems required for food grade production (such as packaging, pasteurization, and automated cleaning systems)
  • ramping continuous production volumes first to a 4/24 level and then, as staffing is increased and certification is completed, to 7/24
  • extending the existing plant HACCP/GMP/ISO certifications to include the extraction and protein sections of the plant.

"Meeting our targeted commercial purity specification on our first full-plant production run is yet another important milestone that again adds to our confidence that we have a plant that can meet all of its original objectives," said BioExx CEO Chris Carl. "We still have much work ahead of us to bring the plant to full continuous operation and food grade sales over the balance of the year, but the remaining steps are largely incremental and operational matters. Achieving these results on our first attempt is a testament to the quality and determination of our R&D, operations and engineering teams. We are excited and ready for the challenges that lie ahead and we look forward to the ongoing creation of additional value for our shareholders."

About BioExx Specialty Proteins Ltd.

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 uses patented and patent-pending technology that utilizes significantly lower temperatures than conventional methods for extracting the final quantities of oil necessary to enable its simplified and patent-pending methods for separating proteins from oilseeds. Relative to other commercial processes, the low temperature BioExx process results in comparatively low energy requirements, environmentally sound extraction and protein separation processes, and very high human food yield that cumulatively have the potential to make a highly valuable contribution to global food and protein supply while maintaining an excellent environmentally sustainable footprint. BioExx operates a commercial scale extraction facility in Saskatoon, Saskatchewan, is in development stages on it second plant in Minot, North Dakota and has a mission to construct additional and larger processing facilities on a global basis.

To find out more about BioExx Specialty Proteins Ltd. (TSX: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.

Contact Information

  • BioExx Specialty Proteins Ltd.:
    Chris Schnarr
    Chief Financial Officer
    (416) 588-4442 x111
    cschnarr@bioexx.com
    or
    Investor Relations:
    Brisco Capital Partners
    Scott Koyich
    President
    (403) 262-9888
    scott@briscocapital.com