VANCOUVER, B.C. and
PORTLAND, ORE. June 13, 2011 /PRNewswire/ - Naturally Advanced
Technologies Inc. (NAT) (OTCBB: NADVF) (TSXV: NAT), and Hercules
Incorporated, a subsidiary of Ashland Inc. (NYSE:ASH), today
announced that they have entered into a joint development agreement
for CRAiLEX(TM) high-grade dissolving pulp. CRAiLEX is the brand
name for the purified pulp created from a patented process that is
exclusively held by Naturally Advanced Technologies Inc. In recent
tests, CRAiLEX has proven to exhibit higher-grade value pulps than
any other hard- or soft-wood pulps. The pulps are used by
Ashland to create its line of
cellulosic products for multiple industries.
"This is the start of our CRAiLEX technology roll out," said
Ken Barker, CEO of NAT. "In the same
manner and strategy we employed to bring our CRAiLAR(R) technology
to commercialization, partnering with an industry leader such as
Ashland Inc. is a key milestone in the development of CRAiLEX. We
are extremely proud of the opportunity and partnership potential in
working with Ashland."
Naturally Advanced Technologies Inc.
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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(R) 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 and the Alberta
Innovates. 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 Disclaimer
This 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.
SOURCE Naturally Advanced Technologies Inc.