Grant and support from the Canadian Food Innovation Network and the Canadian

Technology Accelerator program propel the commercial development of yeast

expected to greatly reduce off-flavors found in plant-based proteins.

Vancouver, Canada — February 8, 2024 — Renaissance BioScience Corp., a leader in bioengineering yeast for the global food, beverage, and agriculture industries, is pleased to announce its project to develop a yeast-based solution to address the prevalent challenge of off-flavors and aromas in plant-based protein products. 

Renaissance has been awarded CA$232,000 in funding from the Canadian Food Innovation Network (CFIN) to fuel the company’s pioneering work with food industry partners in developing a clean-label, non-GMO solution that will showcase Renaissance’s ability to transform and neutralize compounds which lead to off-flavors and undesirable aromas in plant-based flours and proteins.

Plant-based protein products offer certain health and sustainability benefits versus traditional animal-based proteins. However, the challenge of unpleasant flavors and odours hinders product diversification and widespread consumer acceptance.  Protein Industries Canada’s 2023 Global Market Forecast study noted that 44% of consumers wish for a wider variety of plant-based products and 58% of consumers who reduced their consumption of plant-based protein cited unappealing taste and texture as a reason. 

Renaissance addresses the plant-based protein flavor challenge by applying its clean-label, non-GMO yeast technology that uses natural fermentation. Among its achievements, the company has previously had success in applying its yeast bioengineering expertise to reduce the presence of the off-aroma contaminant hydrogen sulfide in a range of out-licensed wine and beer yeast strains that are seeing commercial sales around the world. 

This plant-based project has the support of Pulse Canada, and Renaissance is also collaborating with food industry partners to ensure the yeast’s effectiveness and efficiency in commercial settings. The end objective is to create a clean-label, non-GMO solution that aligns with evolving consumer expectations. 

To further propel the commercialization of this innovative technology, the Government of Canada’s international Trade Commissioner Service has included Renaissance in its 2024 Food Technologies Canadian Technology Accelerator program. This strategic initiative connects Canadian corporations with export, investment, and partnership opportunities in global markets. 

According to Protein Industries Canada 2023 market projections, the worldwide plant-based protein market is expected to grow from US$40 billion in 2021 to potentially more than US$200 billion by 2035, demonstrating significant potential for innovative solutions. 

Dr. John Husnik, Renaissance’s CSO and Office of the CEO, commented on the project: “We’re excited to receive this funding from CFIN and to be accepted into the 2024 Food Technologies Canadian Technology Accelerator program for our clean-label, non-GMO yeast technology. Our team is confident that we can neutralize the off-aromas and flavors in plant-based protein foods, and we look forward to mutually beneficial outcomes for our company, our partners, and plant-based food makers around the world. Our innovative yeast platform technology will contribute to Canada’s growing role as a global leader in plant-based foods and sustainable protein innovation.” 

As consumer expectations evolve and the global plant-based protein market expands, Renaissance is excited to be at the forefront of efforts to shape the future of food innovation. 

About Renaissance BioScience Corp.

Based in Vancouver, Canada, Renaissance is a leading bioengineering company whose platform technologies are used to develop innovative, market-ready, functional microorganisms that provide cost-effective solutions to address a broad range of environmental, health and industrial challenges. Renaissance technologies create products for multiple end-use industries, including food & beverage, agriculture, animal and human health, and energy. Detailed information about the Renaissance group of companies is available at www.renaissancebioscience.com.

For further information or to arrange interviews: 

 Steve Campbell

Campbell & Company Strategies Inc.

Communications and Public Relations

Vancouver, BC CANADA

01 604 888-5267

renaissance@ccom-pr.com

 For commercial or technology development inquiries:

 Reesha Parmar

Manager of Business Development and Strategy

rparmar@renaissancebioscience.com

Caution Regarding Forward-Looking Statements

This press release may include forward-looking statements with respect to the Company based on management’s opinions, estimates and assumptions considering its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that management currently believes are appropriate and reasonable in the circumstances. Generally, forward-looking statements can be identified using terminology such as “anticipate”, “will”, “expect”, “may”, “continue”, “could”, “estimate”, “forecast”, “plan”, “potential” and similar expressions. The forward-looking statements contained in this press release are made as of the date hereof.  

Forward-looking statements contained in this press release may include, but are not limited to: statements with respect to the successful execution of the Company's business and investment strategy (including its business model), the Company’s intellectual property, entrance of the Company’s business into new markets, the use and benefits of its products and services, the Company’s favourable position in the market on a go-forward basis, demographic and market size/trends, forecasts of revenue and financial projections/growth potential, competitive analysis, projected milestones, go-forward management, go-forward capitalization, anticipated governmental and regulatory approvals and other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance, review and approval dates, start-up timelines and schedules and statements related to the continued overall advancement of the Company’s business.  

By their nature, forward-looking statements are subject to a variety of factors that could cause actual results to differ materially from the results suggested by the forward-looking statements. In addition, the forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. There is significant risk that the forward-looking statements will not prove to be accurate, that the Company’s assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. 

Except as required by law, the Company undertakes no obligation to update publicly or to revise any forward-looking statements that are contained or incorporated in this press release. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Back to all news