Calyx's Operating Subsidiary Powers the World's First Test Flight Fueled by 100% Renewable Jet Fuel
September 18 2012 - 7:00AM
Marketwired Canada
Calyx Bio-Venture Inc. (TSX VENTURE:CYX) announces that the Company's operating
subsidiary - Agrisoma Biosciences Inc. ("Agrisoma"), along with the National
Research Council of Canada ("NRC") and the U.S. Air Force Research Laboratory
("AFRL") are partnering with Applied Research Associates ("ARA") and Chevron
Lummus Global ("CLG") to evaluate CLG and ARA's 100% drop-in ReadiJet(TM) Fuel.
ARA and NRC will test the renewable jet fuel against ASTM and military
specifications and evaluate the fuel in ground based engine tests, with the
initiative culminating in a test flight with the NRC Falcon-20 twin-engine jet.
The goal of this testing is to validate the jet fuel for use by the aviation
industry.
This flight will be the first time in the world a jet aircraft is powered by
100%, un-blended, renewable jet fuel that meets petroleum jet fuel
specifications.
The biofuel, ReadiJet(TM), was produced by ARA, under contract to AFRL, from
Agrisoma's Resonance(TM) feedstock crop using CLG's and ARA's breakthrough
Biofuel ISOCONVERSION process.
During the test flight, a second aircraft, the National Research Council's T33
jet will fly behind the Falcon 20 to measure the emissions of the engine
operating on both the ReadiJet biofuel and on conventional petroleum-based
aviation fuel.
Systems onboard the Falcon 20 will allow NRC's flight research team to switch
back and forth between the two fuel types throughout the flight.
These data will be the first of its kind to evaluate biojet fuel emissions of an
aircraft engine operating on 100% biofuel.
NRC's unique expertise will support Agrisoma and CLG/ARA efforts to validate the
Resonance-based ReadiJet biofuel as a viable and sustainable option for the
aviation industry.
Resonance(TM) is a member of the mustard oilseed crop family, and was introduced
into commercial production in Canada in 2012.
Agrisoma Biosciences Inc., a long-time NRC partner, commercialized the oilseed
to provide the industry with a sustainable energy feedstock crop: a non-food,
industrial oilseed that is well-suited for production in semi-arid areas, making
it ideal for producers who can grow the crops on marginal land.
"NRC is helping Agrisoma complete the value chain for Resonance-based
alternative jet fuels," said Steven Fabijanski, President and CEO of Agrisoma.
"We are excited about the continued testing of Agrisoma's Resonance(TM) oilseed
feedstock by ARA/CLG and other strategic partners," stated Hugh Notman,
President and CEO of Calyx Bio-Ventures. "This real world demonstration in a
100% biojet fuel powered flight validates our feedstock as a leading alternative
fuel solution for the commercial and military aviation markets."
Resonance(TM) is a trademark of Agrisoma Biosciences Inc. For more information
about Resonance(TM), contact info@agrisoma.com.
About Calyx
Calyx Bio-Venture Inc. trades on the TSX Venture Exchange under the symbol "CYX"
and owns approximately one third of an operating subsidiary called Agrisoma 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
www.agrisoma.com
www.ara.com
www.nrc-cnrc.gc.ca
www.readifuels.com
www.chevron.com/productd/sitelets/refiningtechnology/about_che_tech.aspx
ON BEHALF OF THE BOARD
CALYX BIO-VENTURES INC.
By: Hugh Notman
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.
iShares 1 to 10 Year Lad... (TSX:CLG)
Historical Stock Chart
From Oct 2024 to Nov 2024
iShares 1 to 10 Year Lad... (TSX:CLG)
Historical Stock Chart
From Nov 2023 to Nov 2024