VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/10/13 -- Calyx Bio-Ventures Inc. ("Calyx" or the "Company") (TSX VENTURE: CYX) announced today that the analysis on the world's first civil jet flight powered by 100 percent unblended biofuel, conducted by the National Research Council of Canada ("NRC"), is a significant milestone in green aviation and should pave the way for continued progress to increase the use of biojet fuel.
NRC flew the first civil jet powered by 100 percent unblended biofuel on October 29, 2012, achieving a milestone for the aviation industry and earning recognition from Popular Science magazine in their December 2012 issue as one of "The Big Science Stories of 2012". The biofuel used in the flight was produced from feedstock by Calyx's operating subsidiary, Agrisoma Biosciences Inc. ("Agrisoma"), and transformed into jet fuel by Applied Research Associates and Chevron Lummus Global.
NRC announced earlier this week the results of an analysis of the historic flight, which revealed that the biofuel used in the flight is cleaner than and as efficient as conventional aviation fuel.
"We are thrilled with the results. The findings confirm our expectations that biojet fuel, refined from Agrisoma's Resonance energy feedstock, will play a significant role in our efforts to further the use of Resonance based renewable jet fuel," said Calyx President and CEO Hugh Notman. "It confirms we can reduce black carbon and aerosol emissions by as much as 50 percent without sacrificing performance. The result of NRC's study is a big confirmation for our company, and a bigger nod to the emerging biofuel industry."
The NRC collected in-flight data, which was analyzed by a team of experts for the past two months. That analysis revealed an important reduction in aerosol emissions (50 percent) when using biofuel compared to conventional fuel. Furthermore, additional tests performed on a static engine showed a significant reduction in particles (up to 25 percent) and in black carbon emissions (up to 49 percent) compared to conventional fuel. The tests also revealed comparable engine performance and an improvement of 1.5 percent in fuel consumption during steady state operations. The jet's engines required no modification as the biofuel tested in-flight meets the specifications of petroleum-based fuels. The Falcon 20 aircraft operated on biofuel at 30,000 feet, similar to regular commercial aircraft altitude. A second aircraft, the T-33, tailed the Falcon in flight and measured engine emissions.
Agrisoma's Resonance based feedstock, used to produce the fuel, is a dedicated industrial oilseed capable of growing on semi-arid land that was launched at commercial scale in 2012 across western Canada.
More information about this biofuel initiative.
To view a video of Tim Leslie, NRC pilot, talking about the biofuel initiative, click here.
Calyx Bio-Ventures Inc. trades on the TSX Venture Exchange under the symbol "CYX" and owns a majority position in Agrisoma Biosciences Inc. Agrisoma is an 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 is a trademark of Agrisoma Biosciences Inc. For more information about Resonance, visit www.agrisoma.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.
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.
Calyx Bio-Ventures Inc.
W. Hugh Notman
President & CEO
Calyx Bio-Ventures Inc.
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