Trimming breaks up markup

As toscho stated, types_render_field() is not a wordpress function, so you should have declared it somewhere.

HTML tags are stripped before returning the excerpt, whether you are using wp_trim_excerpt or wp_trim_words. If you need to keep HTML formatting in the excerpt, you will need to create your own excerpt function. To do this, you will first need to remove wp_trim_excerpt and then add your own function.

Here is a custom excerpt that wrote a while ago. It calles as normal in template files, meaning the_excerpt(). This excerpt keeps all HTML formatting. It also only breaks text after , ; ? . or ! The Read more text appear in a new paragraph, but if you need to have it next to the last word, you can just remove // from

//$pos = strrpos($pietergoosen_excerpt, '</');
//if ($pos !== false)
// Inside last HTML tag
//$pietergoosen_excerpt = substr_replace($pietergoosen_excerpt, $excerpt_end, $pos, 0);
//else
// After the content

Here is my excerpt

if ( ! function_exists( 'pietergoosen_custom_wp_trim_excerpt' ) ) : 

    function pietergoosen_custom_wp_trim_excerpt($pietergoosen_excerpt) {
    global $post;
    $raw_excerpt = $pietergoosen_excerpt;
        if ( '' == $pietergoosen_excerpt ) {

            $pietergoosen_excerpt = get_the_content('');
            $pietergoosen_excerpt = strip_shortcodes( $pietergoosen_excerpt );
            $pietergoosen_excerpt = apply_filters('the_content', $pietergoosen_excerpt);
            $pietergoosen_excerpt = str_replace(']]>', ']]&gt;', $pietergoosen_excerpt);

            //Set the excerpt word count and only break after sentence is complete.
                $excerpt_word_count = 75;
                $excerpt_length = apply_filters('excerpt_length', $excerpt_word_count); 
                $tokens = array();
                $excerptOutput="";
                $count = 0;

                // Divide the string into tokens; HTML tags, or words, followed by any whitespace
                preg_match_all('/(<[^>]+>|[^<>\s]+)\s*/u', $pietergoosen_excerpt, $tokens);

                foreach ($tokens[0] as $token) { 

                    if ($count >= $excerpt_word_count && preg_match('/[\,\;\?\.\!]\s*$/uS', $token)) { 
                    // Limit reached, continue until , ; ? . or ! occur at the end
                        $excerptOutput .= trim($token);
                        break;
                    }

                    // Add words to complete sentence
                    $count++;

                    // Append what's left of the token
                    $excerptOutput .= $token;
                }

            $pietergoosen_excerpt = trim(force_balance_tags($excerptOutput));

                $excerpt_end = ' <a href="'. esc_url( get_permalink() ) . '">' . '&nbsp;&raquo;&nbsp;' . sprintf(__( 'Read more about: %s &nbsp;&raquo;', 'pietergoosen' ), get_the_title()) . '</a>'; 
                $excerpt_more = apply_filters('excerpt_more', ' ' . $excerpt_end); 

                //$pos = strrpos($pietergoosen_excerpt, '</');
                //if ($pos !== false)
                // Inside last HTML tag
                //$pietergoosen_excerpt = substr_replace($pietergoosen_excerpt, $excerpt_end, $pos, 0);
                //else
                // After the content
                $pietergoosen_excerpt .= $excerpt_end;

            return $pietergoosen_excerpt;   

        }
        return apply_filters('pietergoosen_custom_wp_trim_excerpt', $pietergoosen_excerpt, $raw_excerpt);
    }

endif; 

remove_filter('get_the_excerpt', 'wp_trim_excerpt');
add_filter('get_the_excerpt', 'pietergoosen_custom_wp_trim_excerpt');