Burcon NutraScience Corporation (NASDAQ: BRCN) has appointed Ms. Jeanne McCaherty to its board of directors. McCaherty has tremendous management experience in the world food ingredients sector.
Burcon appoint Jeanne McCaherty to its board
The company’s chairman, Dr. Lorne Tyrrell, said, “We are very pleased to welcome Jeanne McCaherty to the board. Her proven ability in industrial manufacturing, and technical leadership experience in food ingredients, makes her an excellent addition. We look forward to her contributions as we enter a very exciting period for Burcon.”
Currently, McCaherty is the Guardian Energy Management CEO. She has previously held management roles at Cargill Inc., where she was the Regional Director of the Global texturizing business Unit. She currently serves as the Renewable Fuels Association chair and sits on the Renewable Products Marketing Group Board.
Burcon releases fiscal 2021 results
Recently the company released its fiscal 2021 results for the period ended March 31, 2021. During the year, the company’s main focus was supporting its joint venture, Merit Foods, which secured $85 million from various lenders and an additional $10 million debt financing in the form of a ten-year interest-free loan.
Burcon successfully came up with techniques to modify and improve the processing functionality of its plant-based proteins for Nestle. As a result, the company received $5 million on proceeds from warrant exercise and converted its $7.8 million convertible debentures.
Johann F. Tergesen, Burcon’s CEO and President, said, “Fiscal 2021 and the year to date was a transformational period for Burcon, reinforcing our position as a leader in the development of plant-based proteins. We began and finished the year in a strong financial position allowing us to focus on supporting our joint venture, Merit Functional Foods. Merit reached a significant milestone near year-end when it achieved first end-to-end commercial production run of its best-in-class pea proteins.”