Plant & Co To Develop Hemp-Based Food Line Through University Of Manitoba Agreement
Plant & Co Ltd (CSE: VEGN) has signed an arrangement with the University of Manitoba. The agreement, announced this morning, will see the health and wellness firm collaborate with the university to develop what it refers to as a proprietary hemp protein concentrate.
The concentrate developed under the agreement will then be the basis of an all natural hemp based line of gluten free products, with the products to be rich in protein. The product line is expected to be treated as an alternative to egg and milk based products that currently saturate the market.
Research and development of the hemp based concentrate is to be conducted by a team of food scientists at the Richardson Centre of Functional Foods and Nutraceuticals, which is located at the University of Manitoba. Development will be conducted through two phases, with the first to consist of producing a hemp flour that is “defatted” while featuring increased proteins. This specific flour is to be created via a proprietary milling and processing method.
The second phase of the program will then see this method used to create concentrate that will be used for testing within food products. This two phase R&D program is expected to be completed within the first quarter of the new year.
“We are focused on establishing a premium brand of quality of plant-based food products through M&A opportunities such as Holy Crap Brands, and at the same time organically, through home grown initiatives like developing hemp-based food products with the University of Manitoba.”
Shawn Moniz, CEO of Plant & Co
Hemp seed as of late have become commonplace within the health and wellness space, with the seed being recognized as a superfood due to its high protein content, while also being high in fatty acids such as omega-3 and omega-6. Once pressed to extract oil from the seeds, the remaining product is processed into flour which is then used as the basis of plant based products such as pasta and other health foods, with the resulting products being viewed as including potential health benefits.
Plant & Co last traded at $0.60 on the CSE.
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