The Vancouver, B.C.-based firm enters into an agreement with an undisclosed global company that produces and distributes snacks and other food products to research and evaluate acrylamide-preventing yeasts.
Functional Technologies Corp., Canada, will research and evaluate its proprietary acrylamide-preventing yeasts with a collaborative partner considered one of the leading companies in the development, manufacturing, marketing and distribution of snacks and other food products, sectors in which the application of the AP yeast products could provide considerable value.
The initial agreement would allow Functional Technologies and its partner to work on proof of concept, pre-pilot scale trials, as well as a preliminary review and development of production protocols. This stage of development and testing are a condition precedent to full-scale pilot trials and commercial negotiations, facilitating meaningful discussions to determine how the company’s technologies and/or services may be employed by the partner.
“Both management and our technical team look forward to working with sector-leading partners to establish the efficacy and commercial protocols of our AP yeasts in removing key precursors responsible for the formation of acrylamide. [This] announcement further supports the commercial appeal of our products and our efforts to attract and engage several of the world’s largest food-based companies,” says Howard Louie, chairman and CEO.