|By Marketwired .||
|October 4, 2013 12:26 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 10/04/13 -- Calyx Bio-Ventures Inc. ("Calyx" or the "Company") (TSX VENTURE:CYX) is pleased to announce that Agriculture and Agri-Food Canada ("AAFC") has committed new investment to the mustard seed industry, which includes industrial oilseeds utilized for biofuel production. Agriculture Minister Gerry Ritz outlined new funding of $4.9 million to increase mustard seed yield and quality.
The funding is earmarked for Mustard 21 ("M21"), a non-profit corporation that is actively involved in support programs for the development of condiment mustards and the industrial oilseed brassica carinata. M21 is a partner of Calyx's 50 percent-owned Agrisoma Biosciences Inc. ("Agrisoma") in the effort to commercialize and scale production of Resonance® carinata. AAFC funding through M21 will focus on improving production of industrial oilseeds for growers, specifically concentrating on rotational benefits, water use efficiency, and fertilizer and weed management.
"Mustard 21 and AAFC have played an instrumental role in the development of carinata and this investment will build on efforts to increase yields of uniform, high quality oil and high protein carinata meal," said Don Konantz, Calyx President and CEO. "This commitment will continue to improve the competitiveness of industrial oilseeds for use in the biofuel sector."
With support of Mustard 21, AAFC and other partners, Agrisoma has proven the viability of carinata as a sustainable, non-food feedstock for biofuels. In October 2012, biojet fuel refined from carinata was used to power the world's first 100% biofuel powered civilian jet flight, flown by the National Research Council of Canada ("NRC"). On September 26, 2013, NRC published a success story about carinata and the 100% biofuel flight (click here to read).
The commitment is part of the government's Growing Forward 2 policy framework, which came into effect on April 1, 2013 and will continue to drive innovation and long-term growth in Canada. In addition to a generous suite of business risk management programs, governments have agreed to invest over five years in innovation, competitiveness, and market development. For more information on the Growing Forward 2 policy framework, visit www.agr.gc.ca/growingforward2.
Calyx Bio-Ventures Inc. (TSX VENTURE:CYX) is an agricultural technology company focused on renewable fuels including biojet and biodiesel. Agrisoma Biosciences Inc., a company in which Calyx is the largest shareholder, 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 100 percent petroleum substitutes. 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 www.calyxbio.com. Resonance® is a registered trademark of Agrisoma Biosciences Inc.
Forward-Looking Statements: This document contains certain forward-looking statements concerning Calyx, as well as other expectations, plans, goals, objectives, information or statements about future events, conditions, 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 control, including the completion of the Private Placement and the delay or failure to receive regulatory approvals.
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, timing and completion of the Private Placement, the actual use of proceeds, and the timing of receipt of regulatory approvals.
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