Solegear Bioplastics Inc.

Solegear Bioplastics Inc.

September 29, 2010 08:01 ET

Solegear Bioplastics Inc. Wins an Unprecedented Three Awards in One of North America's Largest Technology Venture Competitions

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 29, 2010) -

Editors Note: There is a photo associated with this Press Release.

On Thursday, September the 23rd, 2010, at the BCIC New Ventures 10th annual awards ceremony, Solegear Bioplastics was awarded prizes in three different categories. This is the first time ever that the jury has awarded three prizes to one company.

Competing for over $300,000 in a demanding five-month process of presentations and business case submissions to a panel of senior investment and business leaders – including BDC's Geoff Catherwood, Chrysalix's Jim Fletcher, Stirling Mercantile's David Shore, Green Angel's Al Werenko, Lions Capital's Tanner Philp. Growthworks' Maria Pacella and Altos Ventures' Anthony Lee – Solegear was presented with:

  • BC Innovation Council (BCIC)'s Economic Impact Prize
  • BC Hydro's Sustainability Prize
  • BCIC New Ventures Competition's 2nd Prize

"Perseverance, teamwork and technologies which are already making an economic and sustainable impact in the plastics industry have been recognized by an expert and well-respected jury," said Toby Reid, Founder, President and CMO of Solegear Bioplastics. "These prizes are gratefully received, will advance the delivery of materials to current customers and represent another milestone in the Company's development, as we close our Series A round of funding. I'd like to personally thank everyone on my team, our advisors and mentors, and our many supporters who have all played a role in helping us achieve these awards."

Solegear was also recently recognized by Frost & Sullivan, one of the world's leading market research firms, with the 2010 New Product Innovation of the Year Award in Biopolymers. Recent commercial successes have included initial orders from Fisher Price, Petstages and Avery Dennison, and inquiries from Ford Motor Co. and other leading manufacturers.

About Solegear Bioplastics Inc.

Solegear, based in Vancouver, BC, designs, produces and distributes high-performance bioplastics. Founded in 2006, Solegear has worked in R&D for four years with an international team of scientists to develop Polysole® – a 100% natural, non-toxic, high performance biodegradable plastic. Solegear has also recently launched Traverse® - a complementary, high-performance biocomposite that uniquely blends natural fibres with recycled or traditional plastics.

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