(TheNewswire)
Vancouver, B.C. - TheNewswire - October 4, 2022 – Solarvest BioEnergy Inc. (“Solarvest”,or the “Company”) (TSXV:SVS) ,(“Solarvest” or the “Company”), announces the Board ofDirectors has mandated the management of Solarvest including theAdvisory Committee to evaluate different scenarios to be presentedshortly to the Board of Directors in order to accelerate thedevelopment of the successful proof of concept of the Company’sGreen Bio-Hydrogen.
With the recent initiatives from numerousGovernment’s around the world to invest in the development of GreenHydrogen, including Canada and many provinces, Solarvest intends topursue collaborative agreements with various private and publicinstitutions to develop the mechanisms that will further thecommercial development of producing Green Bio-Hydrogen fromalgae.
Bill Cheliak, board member of Solarvest said “Webelieve the time is ripe to further develop Solarvest’s initial workin Green Bio-Hydrogen production. We have mandated Solarvestmanagement to present us a clear plan to reactivate the development ofour Green Bio-Hydrogen vertical market which will include a financingplan along with strategic partnerships that should be targeted.”
Solarvest Bioenergy Inc. has previously announcedthird-party confirmation of its Green Bio-Hydrogen expression systemfollowing the successful completion of a previously announcedsix-month NSERC Engage project with Dr. Hallenbeck at the Universitéde Montreal, a world leader in Green Bio-Hydrogen production andproteomics.
The study indicated that the Solarvest’s improvedstrain of microalgae produced six times more hydrogen per cell ascompared to the industry standard wild-type strain. In addition, theSolarvest strain demonstrated continuous hydrogen production;producing hydrogen ten times longer when compared to the industrystandard wild-type microalgae. The Company expects that yield can befurther improved with optimization of culture conditions and strainimprovements.
Solarvest has obtained patents in many countries thatcover this Hydrogen technology. In addition to the intellectualproperty, the Company has in-house expertise and know-how to deploythis technology at scale.
AboutSolarvest
Solarvest BioEnergy Inc. is an algae biologics companywhose production platform provides an extremely flexible systemcapable of producing numerous products from omega-3 fatty acids tohuman therapeutic proteins. The company has successfully demonstratedthe expression of high-value biological API - therapeutic proteins,viral antigens (immune-stimulating proteins), and Cecropins(antimicrobial peptide/protein).
For further information contact:
Gerri Greenham, CEO
Tel: (647) 204-4095
Email: invest@solarvest.ca
Forward-LookingStatement
This news release containsforward-looking statements, which relate to future events or futureperformance and reflect management's current expectations andassumptions. Such forward-looking statements reflect management'scurrent beliefs and are based on assumptions made by and informationcurrently available to the Company. Investors are cautioned that theseforward looking statements are neither promises nor guarantees, andare subject to risks and uncertainties that may cause future resultsto differ materially from those expected. These forward-lookingstatements are made as of the date hereof and, except as requiredunder applicable securities legislation, the Company does not assumeany obligation to update or revise them to reflect new events orcircumstances.
Neither the TSXVenture Exchange nor its regulation services provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this pressrelease.
Copyright (c) 2022 TheNewswire - All rights reserved.