BURLINGTON, ON, Sept. 11, 2014 /CNW/ - EcoSynthetix Inc. (TSX:ECO)
("EcoSynthetix" or the "Company"), a renewable chemicals company that
produces a family of commercially proven bio-based products, today
hosted the Honourable Gerry Ritz, Federal Minister of Agriculture and
Agri-Food, for the announcement of $7 million in funding for a national
Bioproducts cluster. The cluster, developed by Bioindustrial Innovation
Canada, connects research and market-ready products across Canada.
EcoSynthetix will receive approximately $2 million of the total grant.
"The support of the federal government will enable us to accelerate our
commercialization efforts for new bio-based technology platforms
targeting the replacement of non-renewable chemicals," said John van
Leeuwen, CEO of EcoSynthetix. "In addition, this funding will allow us
to invest in additional product development talent at our Centre of
Innovation in Burlington, Ontario. Our team continues to make strong
progress in the development of new products by building upon the core
science of our proprietary technology."
Agriculture and Agri-Food Canada scientists will work with industry
partners on adding value to the agriculture sector and responding to
global demand for environmentally-friendly bioproducts.
About EcoSynthetix Inc. (www.ecosynthetix.com)
EcoSynthetix Inc. is a renewable chemicals company specializing in
bio-based products that can be used as inputs in industrial
manufacturing for a wide range of consumer products. The Company's
products offer a reduced carbon footprint and are marketed primarily on
the basis of lower cost, stable pricing and equal or superior
performance. EcoSynthetix's lead product, EcoSphere® biolatex® binders, is used commercially by a number of the global top 20
manufacturers in the coated paper and paperboard industry.
Forward Looking Statements
Certain statements in this Press Release constitute "forward looking"
statements that involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance,
objectives or achievements of the Company, or industry results, to be
materially different from any future results, performance, objectives
or achievements expressed or implied by such forward looking
statements. These statements reflect our current views regarding future
events and operating performance and are based on information currently
available to us, and speak only as of the date of this Press Release.
These forward looking statements involve a number of risks,
uncertainties and assumptions and should not be read as guarantees of
future performance or results, and will not necessarily be accurate
indications of whether or not such performance or results will be
achieved. Those assumptions and risks include, but are not limited to,
the fact that our results of operations and business outlook are
subject to significant risk, volatility and uncertainty. Many factors
could cause our actual results, performance or achievements to be
materially different from any future results, performance or
achievements that may be expressed or implied by such forward looking
statements, including the factors identified in the "Risk Factors"
section of the Company's Annual Information Form dated March 31, 2014.
Should one or more of these risks or uncertainties materialize, or
should assumptions underlying the forward looking statements prove
incorrect, actual results may vary materially from those described in
this Press Release as intended, planned, anticipated, believed,
estimated or expected. Unless required by applicable securities law, we
do not intend and do not assume any obligation to update these forward
looking statements.
SOURCE EcoSynthetix Inc.
