LeanLife Selected in Competitive Government Research ProgramVANCOUVER, British Columbia, August 29, 2019: LeanLife Health Inc. (CSE: LLP) (the “Company”) a Company focused on proprietary plant-based food products is pleased to announce that it has qualified for a Government of Canada Research Program.
LeanLife applied to the Industrial Research Assistance Program (“IRAP”), which is part of the National Research Council (“NRC”) of Canada, in May 2019 and was recently approved for project funding.
IRAP is a competitive process that assesses the technical risk and the growth opportunities and benefits to Canada for a given project.
To be considered for IRAP support, a technology-based company must have a team of committed entrepreneurs with a Research & Development project that is novel and innovative, with a higher level of technical risk and potential impact to accelerate growth. Generally, the outcomes of such a project may represent a significant advance on the state of the art, and will create intellectual property of some sort.
IRAP looks for projects with good market potential in a growth sector, some market traction, in companies that are looking to hire staff and create jobs, have a strong management team, and have a strong innovation/business model/vision.
After a lengthy and in-depth evaluation of LeanLife’s management team, technology, and market potential, including an on-site visit at the Company’s production facilities by a Ph.D. (Biochemist)/MBA/Patent Agent, LeanLife Health’s Production Scale Up project was approved.
The Production Scale Up project will allow the Company to transition to commercial quantity production volumes of its plant-based Omega-3 products. It will result in increases in scale and decreases in manufacturing costs that will allow LeanLife to market a ready-to-use direct replacement for vegetable oil in commercial food products aimed at a healthier diet and lifestyle. It will open the door for a unique offering into the multi-billion dollar global ingredient market.
“The validation by an expert of the Company’s management team, proprietary technology and market potential, and selection after a competitive process, once again demonstrates the strength of LeanLife Health. It is an indirect endorsement of the Company’s potential,” said Stan Lis, CEO.