VANCOUVER, BRITISH COLUMBIA — Functional Technologies Corp., (TSX VENTURE:FEB), a world leader in innovative yeast research and development, announced today that it has made considerable progress towards the commercialization of its patent-pending acrylamide-reducing (AR) yeast technology. Acrylamide is a known Group 2A carcinogen (cancer-causing agent), and is formed in starchy carbohydrate-rich foods such as bread, potato chips and cookies when these widely consumed products are baked, fried or toasted.
Currently, several international food ingredient companies are in various stages of conducting tests to confirm the effectiveness of Functional Technologies' proprietary AR yeast in baked products. Based on results to date, the company considers the strategy to partner with at least one global producer to accelerate the commercialization of its AR yeast technology would be the most effective way to achieve the corporate objectives of its business model.
"The potential of an existing baking processing ingredient solving this serious health concern, not only in traditional yeast-fermented baked goods such as bread but also in potential new large markets like potato processing, has been a strong driver in opening partnership opportunities for the company," said Howard Louie, chairman and CEO of Functional Technologies Corp. "Securing the right partner — one with both the resources and the commitment to deliver this important and relevant technology to various markets — is the critical factor in our partnership decision."
The processed potato industry, which includes French fries and potato chips, has been actively seeking and utilizing acrylamide mitigation approaches for some time, with limited success to date. Given this important industry-wide objective, a leading global manufacturer of frozen foods is now evaluating Functional Technologies' AR yeast for application in its potato products. On an annual basis, this industry handles more than half of the world's production of 315 million tonnes of potatoes, so treating this volume of potatoes represents a compelling market application and business opportunity for Functional Technologies' AR yeast.
In addition, cookies, baked snacks and breaded products such as onion rings and fish sticks represent other areas of market opportunity for which Functional Technologies is currently exploring development partnerships. As reported previously, the company expects to establish both global strategic and regional partnerships to further advance market opportunities, and quickly build increased demand and supply for its proprietary AR yeast solutions.
About Functional Technologies' Acrylamide-Reducing Yeast Technology
Acrylamide became a globally recognized food safety issue when it was found to be present in many widely consumed carbohydrate-based food products, including bread, cookies, crackers, baby food, breakfast cereal, French fries and potato chips. Identified by the WHO as a Group 2A carcinogen (considered a "probable" cause of cancer), acrylamide is formed when sugars and the amino acid asparagine, both found in starchy foods, are heated at temperatures over 121C (250F).
Functional Technologies' breakthrough AR yeast works by rapidly breaking down the precursor asparagine into safe compounds before cooking begins. The company has reported initial test results for bread made with its AR yeast; these tests demonstrated reductions of acrylamide of approximately 90% in comparison to bread made with standard commercial baker's yeast.
More information about acrylamide and Functional Technologies' proprietary AR yeast technology can be found at www.functionaltechcorp.com; refer to the news section for our online acrylamide media kit.
About Functional Technologies Corp.
Functional Technologies Corp. develops and commercializes proprietary technologies that enhance the natural properties of yeast and algae — nature's microscopic workhorses. Our scientists apply novel techniques to these micro-celled organisms to resolve significant health and quality problems, and generate new opportunities in the global food, beverage and healthcare industries. Our first commercial products are our Phyterra™ line of proprietary yeast strains, designed to reduce the formation of foul-smelling hydrogen sulfide and the carcinogen urethane in wines and other fermented products. With a head office in Vancouver, Functional Technologies Corp. has R&D facilities in Prince Edward Island and a U.S. sales office in Napa Valley, California. For more information go to www.functionaltechcorp.com.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements about Functional Technologies Corp. and its future plans. Forward-looking statements are statements that are not historical facts, and in this news release include the statement that the company expects to establish both global strategic and regional partnerships to further advance market opportunities and quickly build increased demand and supply for its proprietary AR yeast solutions. The forward-looking statements in this news release are subject to various risks, uncertainties and other factors that could cause the company's actual results or achievements to differ materially from those expressed in, or implied by, the forward-looking statements. These risks, uncertainties and other factors include, without limitation, uncertainty as to the company's ability to achieve the goals and satisfy the assumptions of management; uncertainty as to the actual demand for the company's products and the company's ability to meet such demand; the efficacy of the company's products; a change in the real or perceived health risks associated with acrylamide; new products that become offered by competitors; a change in strategy of potential partners; and other factors that may be beyond the control of the company. Forward-looking statements are based on the beliefs, opinions and expectations of the company's management at the time they are made, and the company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances, should change. Reference to the section entitled "Risks and Uncertainties" commencing on page 16 of the company's management's discussion and analysis relating to the fiscal quarter ended May 31, 2010, which is available on SEDAR at www.sedar.com.
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Source: Functional Technologies Corp.