PORTLAND, OR,
Feb. 17 /PRNewswire/ - Naturally
Advanced Technologies Inc. (NAT) (OTCBB: NADVF) (TSXV: NAT)
announced that TSX Venture Exchange has named the Company to its
2011 TSX Venture 50, a list assembled based on quantitative
measurement of top performing publicly traded companies in
Canada.
NAT has developed the all-natural CRAiLAR® process that
successfully removes the binding agents from flax that contribute
to its stiff texture, and produces a fiber that has both the
tensile strength and performance benefits of flax and the comfort
qualities of cotton.
"We are honoured to have earned a position among the TSX Venture
50," said Guy Prevost, CFO of NAT.
"The Company has evolved from a revolutionary sustainable concept
born in Canada's National Research Council to a proven technology
capable of supplying large global brands. We anticipate a number of
developments this year that will further validate our selection
among this group of companies."
In November 2010, NAT announced a
short-term supply agreement with Hanesbrands for final product
scale up prior to completing commercialization. In January, it
announced a separate agreement with Hanesbrands and the U.S.
Department of Agriculture's Agricultural Research Service
(USDA-ARS) for a cooperative project designed to evaluate the
viability of various flax strains for use in the Company's CRAiLAR®
technology. The latter project has positive economic implications
for U.S. farmers and profitable crop rotation.
The 2011 TSX Venture 50 is comprised of ten companies from each
of five sectors; Clean Technology, Mining, Oil & Gas,
Diversified Industries, and Technology & Life Sciences. The
companies were chosen based on the following criteria, with equal
weighting assigned to each: share price appreciation, trading
volume, market capitalization growth and analyst coverage.
About Naturally Advanced Technologies Inc.
Naturally Advanced Technologies Inc. is committed to unlocking the
potential of renewable and environmentally sustainable biomass
resources from hemp and other bast fibers. The Company, through its
wholly owned subsidiary, CRAiLAR® Fiber Technologies Inc., is
developing proprietary technologies for production of bast fibers,
cellulose pulp, and their resulting by-products, in collaboration
with Canada's National Research Council and the Alberta Innovates
- Technology Futures (formerly the Alberta Research Council).
CRAiLAR® technology offers cost-effective and environmentally
sustainable processing and production of natural, bast fibers such
as hemp and flax, resulting in increased performance
characteristics for use in textile, industrial, energy, medical and
composite material applications. The Company was founded in 1998 as
a provider of environmentally friendly, socially responsible
clothing and adheres to a "triple bottom line" philosophy,
respecting the human rights of employees, the environmental impact
of the Company's operations and fiscal responsibility to its
shareholders. See www.naturallyadvanced.com
Neither the TSX Venture Exchange Inc. 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.
SOURCE Naturally Advanced Technologies Inc.
Copyright . 17 PR Newswire