VANCOUVER, Nov. 6 - Lignol Energy Corporation (TSX-V: LEC), 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 $2,749,134 in additional funding contributions from Sustainable Development Technology Canada ("SDTC"). This amount is in addition to the $1.7 million previously awarded from SDTC and now represents an aggregate contribution from SDTC of up to $4,449,134.
"This funding supports the expanded scope of our current work plan, which will see the establishment of a new industrial scale pilot plant in the coming months and will accelerate our efforts to commercialize our technology," said Ross MacLachlan, President & CEO of Lignol.
"Next-generation biofuels, made from cellulosic biomass, are the key to establishing a new bio-based economy in Canada," said Vicky J. Sharpe, President and CEO of SDTC. "Lignol's innovative technology can provide a key solution in the need to produce ethanol from low-value feedstocks, while at the same time reducing the chemical industry's reliance on petroleum. Should the Lignol project be successful, it will be an important step forward for the production of cellulosic ethanol in Canada and around the world."
Success in the early stages of the project and investments by key stakeholders to date, have enabled Lignol Innovations to scale up the project to: i) establish preliminary operating conditions across a wide range of feedstocks, and ii) identify any significant development issues with respect to various potential, commercial-scale plant configurations. By addressing these key production and process factors in this stage of development, Lignol will be better positioned to advance its plant commercialization objectives.
About SDTC
Sustainable Development Technology Canada (SDTC) is an arm's-length foundation which has received $1.05 billion from the Government of Canada as part of its commitment to create a healthy environment and a high quality of life for all Canadians. SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $550 million SD Tech Fund(TM) supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund(TM) supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels. SDTC operates as a not-for-profit corporation and has been working with the public and private sector including industry, academia, non-governmental organizations (NGOs), the financial community and all levels of government to achieve this mandate. For more information, please visit www.sdtc.ca.
About Lignol
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 cellulosic biomass feedstocks. Lignol's modified solvent based pre-treatment technology, originally developed by a former affiliate of General Electric, and then further developed and commercialized for wood-pulp applications by a subsidiary of Repap Enterprises Inc., facilitates the rapid, high-yield conversion of cellulose to ethanol and the production of value-added biochemical co-products, including High Purity Lignin (HP-L(TM)). 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
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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For further information:
Lignol Energy Corporation
Ross MacLachlan
Chief Executive Officer
Tel: 604-222-9800 ext. 107
Email: info@lignol.ca The Equicom Group
Bruce Wigle
Investor Relations
Tel: 416-815-0700 ext. 228
Email: bwigle@equicomgroup.com