VANCOUVER, Nov. 13 - Lignol Energy Corporation (TSX-V: LEC) today announced that its wholly-owned subsidiary, Lignol Innovations Ltd. ("Lignol"), has been awarded additional grants of up to $4.1 million from the Alberta Government to support the ongoing development and commercialization of its unique process technology for the conversion of cellulosic biomass into ethanol and other biochemicals.
This grant is in addition to the previously announced grant of up to $870,000, that Lignol was awarded from the Government of Alberta in May 2007. Both grants are part of the government's Biorefining Commercialization and Market Development Program. The Alberta Government grants will be received in stages and are conditional upon the completion of certain agreed upon work plans.
"The funding we are receiving from the Government of Alberta will support the expansion of our current work plan and accelerate our progress towards commercialization," said Ross MacLachlan, President and CEO of Lignol. "This award is further proof of the continued interest in our technology platform and its potential to help the government reach its ambitious goals of reducing greenhouse gas emissions and supporting the production of cellulosic ethanol for blending with gasoline."
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.
%SEDAR: 00004360E
Caution concerning forward-looking statements
Certain statements contained in this document may constitute "forward-looking statements". When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "investigate", "looking at" as they relate to Lignol or its management, are intended to identify forward-looking statements or information. 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 among 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. 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.
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