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.