VANCOUVER, Sept. 3 /CNW/ - Lignol Energy Corporation (TSX-V: LEC) ("Lignol" or "the Company"), a leading technology company in the cellulosic ethanol and biorefining sector, today announced that a project led by its wholly-owned subsidiary, Lignol Innovations Ltd., has been awarded up to $1.18 million in funding assistance from BC Bioenergy Network Association ("BCBN"). With this contribution, BCBN will provide funding to Lignol to work with several British Columbia Universities to support mission-driven lignin research for commercial applications.
The goal of this project is to develop the foundation for a renewable chemicals industry within the Province of British Columbia and to further support the development of a biofuels industry. This project will further develop expertise in the production and functional utilization of Lignol's HP-LTM lignin, derived from locally available non-food, biomass feedstocks and leverage the established world renowned centres of excellence at BC Universities and other research institutions, such as FP Innovations.
"BC companies like Lignol will help our province reach its potential as a clean energy powerhouse," said Blair Lekstrom, Minister of Energy, Mines and Petroleum Resources. "Research like this contributes to BC's leadership in the commercialization of cellulosic ethanol and other biofuels, and in the promotion of innovative clean and renewable energy and biorefining solutions."
"This project is a great fit for our mandate of supporting relevant, mission driven research and building a world class bioenergy capability here in BC" stated Michael Weedon, Executive Director of the BC Bioenergy Network. "Lignol has defined the research agenda needs by working with some of BC's leading research universities and other research institutions to accelerate the commercialization of their technology. This is the kind of collaborative approach that we need more of in BC to really fast track the efforts of our technology companies to get their products to market." Weedon added.
"British Columbia is a province rich in resources as well as technical and scientific expertise. This represents an exciting opportunity, through our expanded partnership with BCBN and collaboration with BC's Universities and Research Institutions, to establish BC as a world-leading centre for the production and commercialization of renewable biochemicals from non-food, ligno-cellulosic feedstocks," said Ross MacLachlan, President and CEO of Lignol. "Lignol's team of 50 dedicated employees now includes a talented technical development team, including seven PhD Scientists, many of whom are graduates of BC Universities. This project, lead by Dr. Alex Berlin, Lignol's Vice President of Research, represents an excellent opportunity to expand our working relationships with the Universities and Institutions of BC, which could serve as a model for future collaborations between Industry and Academia," MacLachlan went on to say.
About the BC Bioenergy Network
Established in April 2008 with a $25 million grant from the BC government, the BC Bioenergy Network is an industry-led association that acts as a catalyst for deploying near-term bioenergy technologies and organizing mission-driven research for the development and demonstration of new bioenergy technologies that are environmentally appropriate for the province of BC. Based on a recently-held focus group, BCBN identified the following technology areas requiring funding support: solid wood residues, pulp and paper residues, harvesting and pelletization, agriculture residues, municipal wastewater, municipal landfill waste, municipal solid waste, and community heating-electricity greenhouse systems. BC is well positioned to become a major player in the global bioenergy sector. The province is steward to one of the largest forested areas in the world, and a leader in biomass to value-added wood products. The BC Bioenergy Network will provide the leadership to make BC a world leader in developing and marketing wood-to-bioenergy and other bioenergy technologies. For more information about the BCBN, visit www.bcbioenergy.ca.
Lignol (TSX-V: LEC) is a Canadian company undertaking the development of biorefining technologies for the production of fuel-grade ethanol and other biochemical co-products from non-food cellulosic biomass feedstocks. Lignol's modified solvent-based pre-treatment technology facilitates the rapid, high-yield conversion of cellulose to ethanol and the production of value-added biochemical co-products, including high purity HP-L(TM) lignins. Lignol is executing on its development plan through strategic partnerships to further develop and integrate the core technologies on a commercial scale. Lignol also intends to invest in, or otherwise obtain, equity interests in energy related projects which have synergies with its biorefining technology. For more information about Lignol, please visit our website at www.lignol.ca.
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Caution concerning forward-looking statements
Certain statements contained in this document may constitute forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or variations of such words and phrases or words and phrases that state or indicate that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements or information reflect Lignol's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors could cause Lignol's 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 or information including, amongst other things, those risk factors which are discussed elsewhere in documents that Lignol files from time to time with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements or information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Except as required by law, the Company expressly disclaims any intention or obligation to update or revise any forward looking statements and information whether as a result of new information, future events or otherwise. All written and oral forward-looking statements and information attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements.