Naturally Advanced Technologies Signs Exclusive Deal with National Retail Partner for CRAiLAR Flax in Domestic Textiles
December 01 2011 - 6:00AM
PR Newswire (Canada)
New Fiber Expected to Bolster Sustainability of Products
VANCOUVER, BC and PORTLAND, OR, Dec. 1, 2011 /CNW/ - Naturally
Advanced Technologies Inc. (NAT) announced it has entered into a
development and supply agreement with Target to evaluate the use of
its CRAiLAR Flax fiber in Target's domestic textiles
category beginning December 1. The agreement includes two
years of exclusivity in the category and calls for Target's
evaluation of CRAiLAR Flax in a number of products including
sheets, top of bed, shower curtains, window treatments, table
linens, decorative pillows, towels, and more. "Target
represents a best-in-class partner for CRAiLAR in the domestic
textiles category," said Ken Barker, CEO of Naturally Advanced
Technologies. "Also the fiber's performance in moisture management,
shrinkage reduction, and dye chemical savings is in line with
Target's sustainability efforts." The proprietary CRAiLAR enzymatic
process, developed by Vancouver-based NAT in conjunction with the
National Research Council of Canada, turns natural bast fibers—such
as flax, hemp, jute, and kenaf - into soft, finished textiles that
are as comfortable as cotton, but more durable and eco-friendly.
The result is a product that can integrate with existing technology
for spinning, weaving, or forming fabric, which can be used across
categories such as apparel, footwear, work wear, and domestic
textiles. Additionally, CRAiLAR can be used for a number of
industrial applications. This year, NAT has announced
commercialization or development agreements for CRAiLAR Flax fiber
with HanesBrands, Georgia-Pacific, Levi Strauss & Co., Cintas,
Carhartt, Ashland, Westex and Brilliant Global Knitwear. About
Naturally Advanced Technologies Inc. Naturally Advanced
Technologies Inc. develops renewable and environmentally
sustainable biomass resources from flax, hemp and other bast
fibers. The Company, through its wholly owned subsidiary, CRAiLAR®
Fiber Technologies Inc., has developed proprietary technologies for
production of bast fibers, cellulose pulp, and their resulting
by-products in collaboration with Canada's National Research
Council. CRAiLAR technology offers cost-effective and
environmentally sustainable processing and production of natural,
bast fibers resulting in increased performance characteristics for
use in textile, industrial, energy, medical and composite material
applications. The Company was founded in 1998 as a provider of
environmentally friendly, socially responsible clothing. For more
information, visit www.naturallyadvanced.com. Neither the TSX
Venture Exchange Inc. 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. Forward-Looking Statement DisclaimerThis news release
includes certain statements that may be deemed "forward-looking
statements". All statements in this news release, other than
statements of historical facts, are forward-looking statements.
Forward-looking statements or information are subject to a variety
of risks and uncertainties which could cause actual events or
results to differ from those reflected in the forward-looking
statements or information and including, without limitation, risks
and uncertainties relating to: any market interruptions that may
delay the trading of the Company's shares, technological and
operational challenges, needs for additional capital, changes in
consumer preferences, market acceptance and technological changes,
dependence on manufacturing and material supplies providers,
international operations, competition, regulatory restrictions and
the loss of key employees. In addition, the Company's business and
operations are subject to the risks set forth in the Company's most
recent Form 10-K, Form 10-Q and other SEC filings which are
available through EDGAR at www.sec.gov. These are among the primary
risks we foresee at the present time. The Company assumes no
obligation to update the forward-looking statements. Naturally
Advanced Technologies Inc. CONTACT: Media Contact:Ryan
LeverenzNaturally Advanced Technologies(415)
999-1418ryan.leverenz@naturallyadvanced(dot)comInvestor
Contact:Rick AnguillaGuidance Counsel(503)
820-3565ir@naturallyadvanced.comCorporate Officer:Guy
PrevostCFO(866) 436-7869ir@naturallyadvanced.com
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