Calyx pleased with increased support for mustard seed
Calyx pleased with increased support for mustard seed
Calyx Bio-Ventures Inc (C:CYX)
Shares Issued 38,351,892
Last Close 10/3/2013 $0.165
Thursday October 03 2013 – News Release
Mr. Don Konantz reports
CALYX WELCOMES AGRICULTURE & AGRI-FOOD CANADA’S SUPPORT OF MUSTARD 21
Calyx Bio-Ventures Inc. welcomes Agriculture and Agri-Food Canada’s new investment to the mustard seed industry, which includes industrial oilseeds utilized for biofuel production. Agriculture Minister Gerry Ritz outlined new funding of $4.9 million to increase mustard seed yield and quality.The funding is earmarked for Mustard 21 (“M21”), a non-profit corporation that is actively involved in support programs for the development of condiment mustards and the industrial oilseed brassica carinata. M21 is a partner of Calyx’s 50 percent-owned Agrisoma Biosciences Inc. (“Agrisoma”) in the effort to commercialize and scale production of ResonanceAtrademark carinata. AAFC funding through M21 will focus on improving production of industrial oilseeds for growers, specifically concentrating on rotational benefits, water use efficiency, and fertilizer and weed management.”Mustard 21 and AAFC have played an instrumental role in the development of carinata and this investment will build on efforts to increase yields of uniform, high quality oil and high protein carinata meal,” said Don Konantz, Calyx President and CEO. “This commitment will continue to improve the competitiveness of industrial oilseeds for use in the biofuel sector.”With support of Mustard 21, AAFC and other partners, Agrisoma has proven the viability of carinata as a sustainable, non-food feedstock for biofuels. In October 2012, biojet fuel refined from carinata was used to power the world’s first 100% biofuel powered civilian jet flight, flown by the National Research Council of Canada (“NRC”). On September 26, 2013, NRC published a success story about carinata and the 100% biofuel flight (click here to read).The commitment is part of the government’s Growing Forward 2 policy framework, which came into effect on April 1, 2013 and will continue to drive innovation and long-term growth in Canada. In addition to a generous suite of business risk management programs, governments have agreed to invest over five years in innovation, competitiveness, and market development. For more information on the Growing Forward 2 policy framework, visit www.agr.gc.ca/growingforward2.
