FP Innovations & LEC Sign Deal...Not sure what this means, but it seems quite positive. Joint development and commercialization deal is vague but hopefully it means that FP Innovations will be putting up some cash to get this thing in motion. atb
Lignol and FPInnovations sign Joint Development and Commercialization Agreement
7/26/2011 8:30 AM - Canada NewsWire
VANCOUVER, Jul 26, 2011, 2011 (Canada NewsWire via COMTEX News Network) --
-- Development of high-value commercial applications for Lignol's cellulose -- Product diversification opportunities for the forest products industry
Lignol Energy Corporation (TSXV: LEC), a leading technology company in the advanced biofuels and renewable chemicals sector, and FPInnovations, one of the world's largest private, not-for-profit forest research organizations, announced today a Joint Development and Commercialization Agreement to develop new, high-value applications for the cellulose produced by Lignol's biorefining process.
One of the primary product streams of Lignol's integrated biorefinery platform is unique and highly reactive cellulose which can be utilized in the production of biofuels, sugar platform chemicals and cellulose-based materials. Cellulose-based materials are widely used in a number of high-value industrial applications such as textiles, paper and food products.
"The capability to produce high-value cellulose-based materials will enhance the economics of our biorefining platform and diversify the markets for our technology worldwide. Several companies have expressed interest in the cellulose derivatives available from our technology," said Ross MacLachlan, President and CEO of Lignol. "Working in partnership with FPInnovations, we aim to realize the full potential of this optionality and tap into their world-renown expertise and intellectual property in developing materials that address the increasing global demand for natural and renewable products to replace fossil-carbon and mineral-based materials."
"This agreement with Lignol supports our mission of capitalizing on Canada's fibre attributes in developing new products and market opportunities within a framework of environmental sustainability that can optimize the forest sector value chain," said Pierre Lapointe, President and CEO of FPInnovations. "Our relationship with Lignol has been productive, leading to the successful development of two commercial wood composite applications incorporating Lignol's unique lignin formulations and we look forward to continued success under this agreement in the development of high value cellulose products that can have applicability to the Canadian forest products industry."
The five-year agreement calls for Lignol and FPInnovations to jointly conceive and execute projects with a mechanism for commercial ownership based on the contributions of each party, while recognizing the substantial inventory of intellectual property that each organization brings to the collaboration.
About FPInnovations FPInnovations is a not-for-profit R&D and innovation world leader that specializes in the creation of scientific solutions in support of the Canadian forest sector's global competitiveness and responds to the priority needs of its industrial and government members. FPInnovations works towards optimizing the forest sector value chain. It capitalizes on Canada's fibre attributes and it develops new products and market opportunities within a framework of environmental sustainability. FPInnovations' staff numbers more than 500. Its R&D laboratories are located in Qu?bec City, Montr?al, Thunder Bay and Vancouver, and it has technology transfer offices across Canada. For more information about FPInnovations, visit: www.fpinnovations.ca.
About Lignol Lignol (TSXV: LEC) is a Canadian company undertaking the development of biorefining technologies for the production of advanced biofuels and renewable chemicals from non-food cellulosic biomass feedstocks. Lignol's modified solvent based pre-treatment technology facilitates the rapid, high-yield conversion of cellulose to ethanol and the production of value-added biochemical co-products, including High Performance Lignin (HP-LTM). HP-Lts core technologies on a commercial scale. Lignol also intends to invest in, or otherwise obtain, equity interests in energy related projects which have synergies with its biorefining technology. For more information please visit Lignol's website at www.lignol.ca.