VICTORIA, BC and PORTLAND, OR, Aug. 16,
2012 /PRNewswire/ - Naturally Advanced Technologies Inc.
("NAT" or the "Company") (TSXV: NAT) (OTCBB: NADVF), which produces
and markets CRAiLAR® Flax Fiber, announced it had completed its
final large scale production and commercialization trial with
Barnhardt Manufacturing, one of its key third party manufacturers,
this month. The fiber is destined to go to CRAiLAR's partner
brands, including Georgia-Pacific
for formed materials, Levi Strauss and Company for use in
additional production trials for apparel products, and for the
balance of the spring 2013 retail introduction announced last
month.
NAT and Georgia-Pacific
announced a three-year purchasing agreement in September 2011 after a successful evaluation
period of less than six months. The partnership has since
identified significant product performance advancements. NAT
remains in development Levi's, and the delivered CRAiLAR Flax Fiber
is expected to be used in a trial that would typically precede a
large-scale production run for retail. The amount of fiber
delivered could yield as many as 50,000 units of a regular Levi's
product.
"This is a validating step for CRAiLAR as we demonstrate the
ability of our technology to scale without risk, and as we finalize
the completion of our full scale production facility in
Pamplico, S.C. Most importantly,
this is a key milestone as we look to expand finished products
available at retail, and industries within which consumers will
soon be experiencing CRAiLAR Flax Fiber," said Ken Barker, CEO of NAT. "We are thrilled to be
providing a new, sustainable natural fiber that allows for
innovation in partnership with global brands, and that aligns with
each of their company-wide sustainability initiatives."
Each partner brand determines the timing of their
CRAiLAR-related product introductions internally and has not made
public statements about retail plans.
About Naturally Advanced Technologies Inc.
Naturally Advanced Technologies Inc., through its wholly owned
subsidiary, CRAiLAR® 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. Its renewable and
environmentally sustainable biomass resources from flax, hemp and
other bast fibers offer cost-effective and environmentally
sustainable processing and production, along with 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.crailar.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 NAT'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,
NAT's business and operations are subject to the risks set forth in
its 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. NAT assumes no
obligation to update the forward-looking statements.
SOURCE Naturally Advanced Technologies Inc.