First Venture Technologies Corp.
TSX VENTURE : FEB

First Venture Technologies Corp.

October 01, 2007 09:00 ET

First Venture Reports Set-Up of Its Fully-Functional California Fermentation Lab

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2007) - First Venture Technologies Corp. (TSX VENTURE:FEB) is pleased to report the completion of a fully equipped and staffed California fermentation laboratory, coinciding with the extensive analytical work associated with the commencement of the 2007 North American grape harvest. This facility enables the company to provide its customers with full and comprehensive technical and analytical support in the trials and use of its yeast products, as well as further product development. Personnel are capable of scalable bench-top fermentations of wine, sake, and other fermented beverages, and can also produce pilot-size quantities of the company's proprietary yeasts in wet form. This new technical and production capability enables First Venture to be a more fully-integrated yeast product and service provider to the wine industry.

"We are providing not only comprehensive technical support to our customers, but practical field-based applied research as well," said Bryan Avila, Technical Projects Leader at First Venture Yeast Products. "The primary purpose of this lab during the wine-grape harvest is to enable us to demonstrate the performance of our yeast products to winemakers using their own grapes. We are performing trials at a production scale as well as in the laboratory: 25 bench top fermentations already this season. We feel that it is important to continue to work with the whole wine industry to: (1) further develop a current body of data and knowledge about the presence and the concern of ethyl carbamate in wine products including the potential for exponentially higher levels at the point of consumer intake and not just the actual levels measured at the point of winery production; (2) ensure the reliability and predictability of its urea-degrading yeasts in every conceivable winemaking circumstance both for regulatory "calls for data" compilation and consideration, and for the improvement of best practices protocols for our customers; and (3) develop next generation commercial products for the wine making community."

"As we are now in the midst of the 2007 harvest, many wineries are in their second year of product evaluation with us and fermentation volume has increased significantly from our previous season last year - including trials this year that scale-up to as much as a 68,000 liter fermentation trial," said Andy Starr, First Venture Yeast Products' Director of Marketing and Business Development. "The completion of our Napa-based lab is a key step in First Venture's process of becoming a fully-integrated and high-quality yeast product and service provider to these customers and to the entire wine industry."

The company has undertaken many initiatives, and continues to log many milestones, in this past quarter that support: (1) its entry into new markets outside of North America; and (2) its process to become a fully-integrated and high-quality yeast product and service provider, and new product innovator. These activities include:

- Positive final results from commercial product trials in Chile during the spring 2007 winemaking season have been confirmed. In addition to Ethyl Carbamate reductions ranging as high as 76% - 92% when causal conditions exist, the company now reports sensory characteristics and fermentation kinetics of the wines to be similar to control strains. These trial customers represent over 50% of commercial wine production in Chile, which is one of the 10 largest wine producing countries in the world.

- Work to develop the process, standardization and optimization protocols for commercial scale production of the company's proprietary yeasts, and other downstream products is proceeding on schedule. This work is being conducted at the Prince Edward Island Food Technology Centre.

- The establishment of a product development and applied research office at the new Richardson Centre for Functional Foods and Nutraceuticals (RCFFN) in Winnipeg Manitoba. Dr. John Husnik, who has joined the company full-time and was previously at the UBC Wine Research Centre, will be based at the Richardson Centre. He will have a lead role in the procurement and development of the company's yeast products and technologies.

Most recently, the company announced the acquisition of Phycobiologics Inc. With this acquisition, First Venture will add an exceptional business and technical group that has the skills and the experience of fast-tracking technologies to commercial markets and sustainable revenues. This compliments First Venture's corporate mandate to not only commercialize its urea-degrading yeast technology, but to also support the development of commercially viable next-generation products and new technologies. The acquisition is pending the approval of the TSX Venture Exchange.

ON BEHALF OF THE BOARD

Howard Louie, President & CEO

ABOUT FIRST VENTURE TECHNOLOGIES

First Venture is a biotechnology company that develops and commercializes advanced yeast products.

The company is currently commercializing a platform yeast technology that substantially reduces the formation of a known carcinogen, ethyl carbamate (or urethane) from food products and alcoholic beverages. The company has licensed the exclusive worldwide rights to the technology from The University of British Columbia (UBC).

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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