VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2012) - Calyx Bio-Venture Inc. (TSX VENTURE:CYX) announces that the Company's operating subsidiary - Agrisoma Biosciences Inc. ("Agrisoma"), along with the National Research Council of Canada ("NRC") and the U.S. Air Force Research Laboratory ("AFRL") are partnering with Applied Research Associates ("ARA") and Chevron Lummus Global ("CLG") to evaluate CLG and ARA's 100% drop-in ReadiJet™ Fuel.
ARA and NRC will test the renewable jet fuel against ASTM and military specifications and evaluate the fuel in ground based engine tests, with the initiative culminating in a test flight with the NRC Falcon-20 twin-engine jet. The goal of this testing is to validate the jet fuel for use by the aviation industry.
This flight will be the first time in the world a jet aircraft is powered by 100%, un-blended, renewable jet fuel that meets petroleum jet fuel specifications.
The biofuel, ReadiJet™, was produced by ARA, under contract to AFRL, from Agrisoma's Resonance™ feedstock crop using CLG's and ARA's breakthrough Biofuel ISOCONVERSION process.
During the test flight, a second aircraft, the National Research Council's T33 jet will fly behind the Falcon 20 to measure the emissions of the engine operating on both the ReadiJet biofuel and on conventional petroleum-based aviation fuel.
Systems onboard the Falcon 20 will allow NRC's flight research team to switch back and forth between the two fuel types throughout the flight.
These data will be the first of its kind to evaluate biojet fuel emissions of an aircraft engine operating on 100% biofuel.
NRC's unique expertise will support Agrisoma and CLG/ARA efforts to validate the Resonance-based ReadiJet biofuel as a viable and sustainable option for the aviation industry.
Resonance™ is a member of the mustard oilseed crop family, and was introduced into commercial production in Canada in 2012.
Agrisoma Biosciences Inc., a long-time NRC partner, commercialized the oilseed to provide the industry with a sustainable energy feedstock crop: a non-food, industrial oilseed that is well-suited for production in semi-arid areas, making it ideal for producers who can grow the crops on marginal land.
"NRC is helping Agrisoma complete the value chain for Resonance-based alternative jet fuels," said Steven Fabijanski, President and CEO of Agrisoma.
"We are excited about the continued testing of Agrisoma's Resonance™ oilseed feedstock by ARA/CLG and other strategic partners," stated Hugh Notman, President and CEO of Calyx Bio-Ventures. "This real world demonstration in a 100% biojet fuel powered flight validates our feedstock as a leading alternative fuel solution for the commercial and military aviation markets."
Resonance™ is a trademark of Agrisoma Biosciences Inc. For more information about Resonance™, contact email@example.com.
Calyx Bio-Venture Inc. trades on the TSX Venture Exchange under the symbol "CYX" and owns approximately one third of an operating subsidiary called Agrisoma Inc. Agrisoma is a private agricultural biotechnology company that uses a proprietary Engineered Trait Loci (ETL) technology licensed from Calyx to commercialize a suite of industry-leading oil quality and crop improvement traits for use in energy feedstock crops. For further information about Calyx, its technology, collaborations and partnerships, please visit:
ON BEHALF OF THE BOARD
CALYX BIO-VENTURES INC.
By: Hugh Notman
W. Hugh Notman, President & CEO
Forward-Looking Statements: This document contains certain forward-looking statements concerning Calyx and/or Agrisoma, as well as other expectations, plans, goals, objectives, information or statements about future events, conditions, results of operations or performance that may constitute "forward-looking statements" or "forward-looking information" under applicable securities legislation. Such statements or information involve substantial known and unknown risks and uncertainties, certain of which are beyond Calyx's and/or Agrisoma's control, including general business, economic, competitive, political and social uncertainties; the delay or failure to receive regulatory approvals, the characteristics and viability for bio-fuel development, the willingness of third parties to conclude agreements with Calyx and/or Agrisoma on terms that are acceptable to management of Calyx and/or Agrisoma, and the ability of Calyx and/or Agrisoma to secure sufficient future funding to carry out all of its business plans.
Such forward-looking statements or information are based on a number of assumptions which may prove to be incorrect. In addition to other assumptions identified in this news release, assumptions have been made regarding, among other things, commodity prices, operating conditions, capital and other expenditures, and project development activities.
Although Calyx and/or Agrisoma believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Calyx and/or Agrisoma can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Calyx and/or Agrisoma and described in the forward-looking statements or information.
The forward-looking statements or information contained in this news release are made as of the date hereof and Calyx and/or Agrisoma undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise unless so required by applicable securities laws or the TSX Venture Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
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