Calyx Bio-Ventures Inc.

Calyx Bio-Ventures Inc.

June 24, 2013 08:00 ET

Scientific Study Reveals ReadiDiesel® Meets Petroleum-Based Diesel Specifications Without Blending Fossil Fuels

ReadiDiesel®, made from energy feedstock from Calyx Bio-Ventures' subsidiary Agrisoma, stands out as petroleum alternative, made from non-food oilseed

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 24, 2013) - Calyx Bio-Ventures Inc. (TSX VENTURE:CYX) is pleased to announce that Resonance® energy feedstock provided by Calyx subsidiary Agrisoma Biosciences, was found to be the most similar to petroleum-derived fuels as compared to other renewable fuels tested in a recent study conducted by the Coordinating Research Council (CRC), a non-profit organization that encourages, promotes and studies various fuels through scientific research.

The study, Advanced Alternative and Renewable Diesel Fuels: Detailed Characterization of Physical and Chemical Properties, confirmed that ReadiDiesel®, made from Agrisoma's Resonance™ energy cairnata feedstock, "looked more like the petroleum-derived fuels than the other renewable fuels…" The study compared the results of detailed analyses of the physical and chemical properties of 10 advanced alternative and renewable diesel fuels and four commercial ultra low sulfur diesels.

A key objective of the blind study was to identify the similarities and differences of alternative and renewable fuels as compared to conventional petroleum derived diesel fuels. Samples were obtained from select manufacturers who produced diesel on a relatively large scale (from pilot to commercial scale) and agreed to participate in the study.

Highlights of the report include:

  • Referring to RD3 (ReadiDiesel): "…looked more like the petroleum-derived fuels than the other renewable fuels…" Page xviii, Executive Summary.

  • ReadiDiesel was the only fuel tested that had the same level of aromatics as petroleum-based diesel fuel, the main reason most alternative fuels require blending with petroleum.

ReadiDiesel, made by Applied Research Associates (ARA) and Chevron Lummus Global from Agrisoma Resonance® energy feedstock, is referred to as "RD3" in the report the report.

"The CRC report provides a broad view and comprehensive analysis of the slate of alternative and renewable diesel fuels at or near commercial scale. Our ReadiDiesel, made from Agrisoma's Resonance energy feedstock, clearly stands out, meeting D975 specs without blending and having a molecular makeup that is almost indistinguishable from the ultra low sulfur diesels tested in the program," said Ed Coppola, ARA Fuels Technical Lead.

"The fact that ReadiDiesel has a density equivalent to petroleum diesels is significant from an operational perspective as it equates to extra miles per gallon for a diesel fleet," said Chuck Red, ARA's Vice President, Fuels Development.

"The CRC study is one more confirmation that Resonance® carinata can be used as a feedstock for fuels that are complete petroleum substitutes, resulting in substantially reduced carbon and other harmful emissions without compromising performance," said Hugh Notman, president and CEO of Calyx. "This further supports our efforts to become a leading non-food source of biofuels that can be utilized seamlessly in petroleum-fuel powered engines, whether they be in planes, ground transportation or other applications."

Access to the full CRC Report visit

The AVFL-19 Working Group (of the CRC) is comprised of representatives from energy companies, U.S. national labs, and a Canadian national lab. The time and testing expenses of the authors were largely funded by their respective organizations. Members of the U.S. Department of Energy National Laboratories used funding from their budgets provided by U.S. DOE Vehicle Technologies Program. Members of National Resources Canada and Canmet ENERGY used funding from their budgets provided by the Government of Canada's interdepartmental Program of Energy Research and Development, PERD 113 Petroleum Conversion for Cleaner Air.

About Calyx

Calyx Bio-Ventures Inc. (TSX VENTURE:CYX) is an agricultural technology company focused on renewable fuels including biojet and biodiesel. Calyx's operating subsidiary, Agrisoma Biosciences Inc., is producing a new proprietary non-food energy feedstock crop, Resonance® carinata, which yields oil that can be refined into fuels that work in existing engines as a 100 percent petroleum substitute. From seed to sky, fuels produced from Resonance® carinata substantially reduce carbon and other harmful emissions, and help to reduce global petroleum dependence. For further information about Calyx, please visit Resonance® is a registered trademark of Agrisoma Biosciences Inc.

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.

This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, any securities in the United States, nor shall there be any sale of securities mentioned in this press release in any state in the United States in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Neither the 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.

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