BlueOcean NutraSciences Inc. to Demo AlgaOmega(TM) Algae Production System at Arizona Center for Algae Technology and Innovat...
July 02 2014 - 4:00PM
Marketwired Canada
BlueOcean NutraSciences Inc. ("BlueOcean") (TSX VENTURE:BOC) will demonstrate
its algae production system at the Arizona Center for Algae Technology and
Innovation ("AzCATI") located at Arizona State University ("ASU"). AzCATI is
part of the ASU led AlgaeTestbed Public-Private Partnership (ATP3) and is
recognized as the preeminent test facility for algae development and validation.
The demonstration will provide third party validation on all production metrics.
The demonstration is expected to be completed within the next 90 days.
AlgaOmega(TM) algae oil contains over 50% more EPA than competitor algae oils as
well as a significant amount of DHA. This combination of high EPA and DHA
uniquely positions AlgaOmega(TM) in the market place.
AlgaOmega(TM) is phototrophically produced utilizing a proprietary bio-reactor
design that incorporates a patented hollow fiber CO2 infusion technology and
light delivery system resulting in up to three (3) times more algae biomass
production than competitor production systems.
"BlueOcean is pleased to be working with AzCATI to demo our algae production
system. Having third party validation of our commercial production system by
AzCATI will allow BlueOcean to complete our discussions with major strategics on
contingent offtake agreements." - said BlueOcean's CEO, Douglas Kemp-Welch.
"Third party validation of commercially relevant technology is one of the key
missions for AzCATI and our ATP3 program. Technology companies, like BlueOcean
NutraSciences, having easy access to facilities and expertise such as those
available within our ATP3 network can help accelerate innovation and
commercialization of algal technologies and products." - said Dr. John McGowen,
Portfolio Manager in ASU's Office of Knowledge Enterprise Development's Project
Management Office and Director of Operations and Program Management for AzCATI
and ATP3.
About BlueOcean NutraSciences:
BlueOcean NutraSciences Inc. ("BlueOcean"), formerly Solutions4CO2 Inc., is a
Canadian company that develops specialty oils using innovative product platforms
targeted at the rapidly growing Health and Wellness, and Animal Feed markets.
BlueOcean is developing three specialty oil products: AstaShrimp(TM),
AlgaOmega(TM) and AstaTene(TM). BlueOcean owns 50% of the participating and
voting rights in 70717 Newfoundland and Labrador Ltd., a joint venture with a
major Atlantic Canada shrimp processor that provides the shrimp feedstock for
the extraction of AstaShrimp(TM). BlueOcean owns Asta NutraSciences Inc., a
company formed to develop AstaTene(TM), a natural astaxanthin based health and
wellness product for the nutraceutical and animal feed markets. BlueOcean wholly
owns its AlgaOmega(TM) product line.
About the Arizona Center for Algae Technology and Innovation:
AzCATI is an internationally recognized center at ASU and serves as a national
testbed for research, testing, and commercialization of algae-based products
such as biofuels, pharmaceuticals, nutraceuticals, and other algae biomass
co-products. AzCATI provides open test and evaluation facilities for the algae
industry and research community. For more about AzCATI, visit azcati.com.
About the Algae Testbed Public-Private Partnership:
ATP3 is a learning environment for the next generation of scientists, engineers
and business leaders to accelerate the research and development of algae-based
technologies. The ATP3 open test bed and evaluation facilities, are a hub for
research and commercialization of algae-based biofuels and co-products. ATP3 is
funded through a $15 million grant from the US Department of Energy. The
partnership is led by AzCATI at ASU with support from industry, academic, and
national laboratory partners. For more about ATP3, visit atp3.org.
Forward-looking Statements
This news release may contain forward-looking statements that are based on
BlueOcean's expectations, estimates and projections regarding its business and
the economic environment in which it operates. These statements are not
guarantees of future performance and involve risks and uncertainties that are
difficult to control or predict. Therefore, actual outcomes and results may
differ materially from those expressed in these forward-looking statements and
readers should not place undue reliance on such statements. Statements speak
only as of the date on which they are made, and the Company undertakes no
obligation to update them publicly to reflect new information or the occurrence
of future events or circumstances, unless otherwise required to do so by law.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
BlueOcean NutraSciences Inc.
Douglas Kemp-Welch
CEO
416-803-9435, extension 101
BlueOcean NutraSciences Inc.
Dil Vashi
Manager Corporate Development
416-803-9435, extension 104
www.blueoceannutra.ca
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