TORONTO, ONTARIO -- (Marketwire) -- 08/03/11 -- BioExx Specialty Proteins Ltd. (TSX: BXI) ('BioExx' or the 'Company) is pleased to confirm that it has continued to achieve improvements in production metrics at its Saskatoon plant during the month of July. In general, the plant is now operating in a stronger and more predictable manner that, subject to some improvements being made during the next two weeks, should result in more robust and continuous operations being achieved throughout the balance of this year. As discussed previously, operations for July consisted of a blend of constant production and new high volume tests that resulted in both several new high-water marks being realized and total volumes remaining relatively stable. Some of the important achievements included:
-- Protein yield from seed processed increased to a high of 59% without secondary protein recovery -- The combination of throughput and uptime increased resulting in the best runs processing 30% more material than in June -- More total protein production month over month -- An important increase in the last week in average purity resulting from recent process modifications
The increased production volumes for the month were based on two of four shift crews operating. While some of the volume increases and testing programs resulted in narrowly missing required product specifications, the causes of these misses were identified and corrective measures were, or are, being taken. Notably, process modifications at month end demonstrated the highest average purity levels and yields to date, which bodes well for performance going forward.
The plant is now shut down for two weeks to allow all operating employees to take summer vacation simultaneously which results in minimal shift disruptions. This time is also being actively used to complete a number of small capital improvement projects. These projects are based on operational experience to date and are designed to address identified challenges and enable substantial increases in key metrics, including:
-- Augmenting processing capacity to increase throughput -- Increasing pasteurizing capacity to allow reduced microbial counts at higher throughput levels -- Completion of hard-piping in place of previous temporary piping to enable more continuous operations -- Improvements to CIP system to increase efficiency and reduce cleaning cycle downtime -- Commissioning of secondary protein-recovery system to increase yield
Although the plant is expected to resume operations in approximately two weeks, with the subsequent time to re-start and normalize operations and the addition and training of a third shift, the full transition may take much of August. However, as previously discussed, the Company expects to realize its most significant gains following the shutdown improvements, and looks forward as a consequence to an accelerated ramp-up over the balance of the year.
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 global food, beverage, nutrition, and other markets. BioExx employs trade secret, patented and patent-pending technologies that utilize significantly lower temperatures than conventional oilseed processing, in order to enable the improved separation of proteins from oilseeds. BioExx believes that these processes cumulatively have the potential to make a valuable contribution to global food and protein supply while maintaining an environmentally sustainable footprint. BioExx operates a commercial scale 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.
BioExx Specialty Proteins Ltd.:
Chief Financial Officer
(416) 588-4442 x111
Brisco Capital Partners