Innoventé inc.

Innoventé inc.

March 28, 2011 10:24 ET

Jacques Gauthier and Luc Dupont Join Innovente's Board of Directors

QUEBEC CITY, QUEBEC--(Marketwire - March 28, 2011) - INNOVENTE INC (TSX VENTURE:IGE) ( (the "Society"), a leader in producing clean energy from organic waste, is pleased to announce the appointments of Jacques Gauthier, Senior Vice President at Dessau, President and Chief Executive of LVM, and Luc Dupont, CEO and co-founder of Immanence Intégral Dermo Correction (IDC) to its Board of Directors. These appointments fill vacancies left by the departure of Denis M. Sirois and Me Mario Jacob, the latter remaining, however, as Corporate Secretary.

Mr. Jacques Gauthier

A lawyer and member of the Bar of Quebec, Mr. Gauthier has over 20 years management experience in the field of energy. Having held senior management positions within large companies including Boralex and Kruger, Mr. Gauthier has excelled in the areas of strategic planning, operations and finance throughout his career, and has contributed to the development and growth of major projects in the Canadian and U.S. energy sectors.

Mr. Luc Dupont

A visionary and result-oriented entrepreneur, Mr. Dupont has co-founded companies of international repute, including AEterna Zentaris (TSX:AEZ)(NASDAQ:AEZ), Atrium Innovations (TSX:ATB), Unipex Innovations, and more recently, Immanence Intégrale Dermo Correction. Although companies founded through Mr. Dupont's entrepreneurial efforts have a wide-reaching impact, he remains committed to enhancing the economic development of Quebec.

"With great enthusiasm we welcome Mr. Gauthier and Mr. Dupont," said Richard Painchaud, Innoventé's President and CEO. "Their respective experience and knowledge will bring great dynamism and success to Innoventé's activities. It's a privilege to have entrepreneurs and leaders of this magnitude on our Board."

"We thank Mr. Denis M. Sirois for his service to Innoventé's shareholders and his superb guidance with the Society's initial public offering. We are also pleased to continue to rely on Me Mario Jacob as Corporate Secretary," added Mr. Painchaud.

In addition, Innoventé announced that the Board of Directors authorized a grant of 175,000 stock options to Directors and Officers. Pursuant to the terms of the Society's stock option plan, each option grants the holder of such option the right to purchase a common share of the Society at a price of $0.85 per share no later than December 20, 2020.

About Innoventé Inc.

Innoventé produces clean energy and fertilizers from organic waste. Innoventé accomplishes this transformation using innovative technologies to produce high caloric value biofuel. Furthermore, these technologies recover an important fraction of fertilizers such as nitrogen, phosphorus and potassium, all contained in organic waste. Innoventé's strategic vision is to develop and operate transformation centers throughout Québec, Canada and around the world.

Innoventé currently owns a demonstration center in St-Patrice-de-Beaurivage. The center can process over 50,000 tons of organic waste annually into biofuel suitable for production of electricity, heat and fertilizers. In February 2010, Hydro-Quebec awarded the company a 25-year supply contract to produce electricity from a 4.6 MW cogeneration plant. In addition to electricity, Innoventé will produce 10 MW of heat and 7,000 tonnes of fertilizers annually while reducing greenhouse gas (GHG) emissions by 25 tons.

Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Innovente Inc. to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Innovente Inc.
    Genevieve Blais
    Director of Communications
    418-692-1011 (200)