|By Marketwired .||
|July 2, 2014 04:00 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 07/02/14 -- BlueOcean NutraSciences Inc. ("BlueOcean") (TSX VENTURE:BOC) will demonstrate its algae production system at the Arizona Center for Algae Technology and Innovation ("AzCATI") located at Arizona State University ("ASU"). AzCATI is part of the ASU led AlgaeTestbed Public-Private Partnership (ATP3) and is recognized as the preeminent test facility for algae development and validation. The demonstration will provide third party validation on all production metrics. The demonstration is expected to be completed within the next 90 days.
AlgaOmega(TM) algae oil contains over 50% more EPA than competitor algae oils as well as a significant amount of DHA. This combination of high EPA and DHA uniquely positions AlgaOmega(TM) in the market place.
AlgaOmega(TM) is phototrophically produced utilizing a proprietary bio-reactor design that incorporates a patented hollow fiber CO2 infusion technology and light delivery system resulting in up to three (3) times more algae biomass production than competitor production systems.
"BlueOcean is pleased to be working with AzCATI to demo our algae production system. Having third party validation of our commercial production system by AzCATI will allow BlueOcean to complete our discussions with major strategics on contingent offtake agreements." - said BlueOcean's CEO, Douglas Kemp-Welch.
"Third party validation of commercially relevant technology is one of the key missions for AzCATI and our ATP3 program. Technology companies, like BlueOcean NutraSciences, having easy access to facilities and expertise such as those available within our ATP3 network can help accelerate innovation and commercialization of algal technologies and products." - said Dr. John McGowen, Portfolio Manager in ASU's Office of Knowledge Enterprise Development's Project Management Office and Director of Operations and Program Management for AzCATI and ATP3.
About BlueOcean NutraSciences:
BlueOcean NutraSciences Inc. ("BlueOcean"), formerly Solutions4CO2 Inc., is a Canadian company that develops specialty oils using innovative product platforms targeted at the rapidly growing Health and Wellness, and Animal Feed markets.
BlueOcean is developing three specialty oil products: AstaShrimp(TM), AlgaOmega(TM) and AstaTene(TM). BlueOcean owns 50% of the participating and voting rights in 70717 Newfoundland and Labrador Ltd., a joint venture with a major Atlantic Canada shrimp processor that provides the shrimp feedstock for the extraction of AstaShrimp(TM). BlueOcean owns Asta NutraSciences Inc., a company formed to develop AstaTene(TM), a natural astaxanthin based health and wellness product for the nutraceutical and animal feed markets. BlueOcean wholly owns its AlgaOmega(TM) product line.
About the Arizona Center for Algae Technology and Innovation:
AzCATI is an internationally recognized center at ASU and serves as a national testbed for research, testing, and commercialization of algae-based products such as biofuels, pharmaceuticals, nutraceuticals, and other algae biomass co-products. AzCATI provides open test and evaluation facilities for the algae industry and research community. For more about AzCATI, visit azcati.com.
About the Algae Testbed Public-Private Partnership:
ATP3 is a learning environment for the next generation of scientists, engineers and business leaders to accelerate the research and development of algae-based technologies. The ATP3 open test bed and evaluation facilities, are a hub for research and commercialization of algae-based biofuels and co-products. ATP3 is funded through a $15 million grant from the US Department of Energy. The partnership is led by AzCATI at ASU with support from industry, academic, and national laboratory partners. For more about ATP3, visit atp3.org.
This news release may contain forward-looking statements that are based on BlueOcean's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
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.
BlueOcean NutraSciences Inc.
416-803-9435, extension 101
BlueOcean NutraSciences Inc.
Manager Corporate Development
416-803-9435, extension 104