Calyx's Operating Subsidiary Makes Aviation History, Powers the World's First 100% Biofuel Flight
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 30, 2012) - Calyx Bio-Ventures Inc. (TSX VENTURE:CYX) ("Calyx" or the "Company") is pleased to announce yesterday's successful completion of the world's first civil jet flight powered by 100% renewable, drop-in biofuel, conducted with the Falcon 20 jet of the National Research Council of Canada ("NRC"). The drop-in fuel was produced from feedstock produced by the Company's operating subsidiary, Agrisoma Biosciences Inc. ("Agrisoma"). Agrisoma's Resonance(TM) Energy Feedstock is a dedicated industrial oilseed that has been launched at commercial scale in 2012 across a broad region of western Canada. This historic flight symbolizes a significant step not only for the aerospace industry, but also towards advancing sustainable sources of renewable energy.
The biofuel flowed into the engine of the Falcon 20 - one of NRC's specifically equipped and best-suited jets for this challenge - as it streaked over the skies of Canada's capital. A second aircraft, the T-33, tailed the Falcon in flight and collected valuable information on the emissions generated by the biofuel. Research experts at NRC will analyze this information to better understand the environmental impact of biofuel. Preliminary results are expected to be released in the following weeks.
To date, flights on biofuels have been restricted to a 50% blend with petroleum, imposing limitations on fuel use. Using Applied Research Associates' Isoconversion Process, oil from Resonance(TM) Energy Feedstock was converted into a fuel that represents a complete replacement for conventional jet fuel, enabling flight at 100% biofuel use, a breakthrough for the renewable fuels industry.
Resonance(TM) Energy Feedstock produces a unique long chain industrial oil ideally suited for biofuel manufacturing. Resonance represents a new generation of sustainable and scalable biomass crops, specially developed to provide a non-food oil that represents a step change for the renewable fuels industry, breaking the reliance on food crops to supply feedstock for biofuel manufacturing.
Resonance(TM) Energy Feedstock has been successfully produced by over 40 commercial growers in the semi-arid production crop regions of Western Canada, a region that encompasses more than 16 million acres of dry land agriculture. Agrisoma plans on significantly expanded commercial production of Resonance(TM) for the 2013 production season, underscoring Canada's strength not only in agriculture production but as an energy superpower in both conventional and renewable energies. Agrisoma is also demonstrating the potential of Resonance(TM) for production in the United States across multiple regions.
"Today, I flew the world's first 100 percent biofuel flight," said Tim Leslie, one of NRC's pilots. "We have been working hard with our partners for many months, and it is most rewarding to see it all come together. It is truly inspiring to take this step towards an eco-friendly future!"
"We are extremely pleased to see the worlds first petroleum free flight segment successfully flown yesterday with Agrisoma's Resonance(TM) Energy Feedstock. This flight was possible due to the combined strategic effort of all the partners involved," stated Hugh Notman, President and CEO of Calyx. "We also look forward to receiving the emissions data in the coming weeks, which were taken in real time during the flight, to demonstrate the sustainability of Resonance(TM) Energy Feedstock.
Agrisoma President and CEO Steven Fabijanski, who was present on the tarmac for the flight, commented: "This flight represents the culmination of a significant and strategic effort within Canada to demonstrate leadership in green aviation - from the commercialization of a sustainable and scalable feedstock crop to "at altitude" flight demonstration with emissions monitoring in real time during the flight. Agrisoma is proud to be a part of this landmark work. To date, all powered flight has relied on fossil fuel. This flight changes everything - we have witnessed zero carbon aviation."
The biofuel used for this flight was transformed by Applied Research Associates and Chevron Lummus Global using oilseed crops commercialized by Agrisoma Bioscience Inc. This aviation initiative is funded by the Government of Canada's Clean Transportation Initiatives and the Green Aviation Research and Development Network.
More information about this biofuel initiative.
To view a video of Tim Leslie, NRC pilot, talking about the biofuel initiative, click here.
To listen to an audio of Tim Leslie, NRC pilot, talking about the biofuel initiative, click here.
To view a photo of the T33 tailing the Falcon 20, please visit the following link: http://www.marketwire.com/library/20121025-Falcon20_800.jpg
Calyx Bio-Venture Inc. trades on the TSX Venture Exchange under the symbol "CYX" and owns approximately one quarter of an operating subsidiary called Agrisoma Biosciences 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 www.calyxbio.com.
Resonance(TM) is a trademark of Agrisoma Biosciences Inc. For more information about Resonance, contact email@example.com.
ON BEHALF OF THE BOARD
CALYX BIO-VENTURES INC.
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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Calyx Bio-Venture Inc.
W. Hugh Notman
President & CEO
Calyx Bio-Venture Inc.