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Canadian Government Announces Funding for Leading Biotechnology Firm's Project
Date:3/6/2009

Performance Plants to Further Develop Plant Traits for Biofuel

KINGSTON, ON, March 6 /PRNewswire/ - Performance Plants Inc. (PPI), a global leader in agricultural and biofuel biotechnology development and Sustainable Development Technology Canada (SDTC) are pleased to announce that a project led by PPI will be receiving up to $5,565,063 in funding from SDTC. The funds will be used to advance its trait technologies that improve conversion of cellulose into cost-effective biofuels and biochemicals.

The announcement was made today by Natural Resources Minister Lisa Raitt and Vicky Sharpe, SDTC President and Chief Executive Officer.

"The support of SDTC is important and greatly appreciated as it validates the efficacy of our technologies to more efficiently convert non-food biomass into cellulosic ethanol," says Peter Matthewman, President, Performance Plants. "We believe our technologies are the critical link to developing a profitable and sustainable clean energy sector that replaces such feedstocks as coal and petroleum with non-food biomass crops."

According to Matthewman, the challenge has been breaking down cellulose - tight chains of indigestible sugar molecules that make up the majority of plant cell walls - for conversion into renewable sources of energy. PPI has discovered a family of technologies called Enhanced Conversion Technology(TM) (ECT(TM)) that alter plant cell walls to significantly improve their conversion into biofuels.

The primary use of the SDTC funding will be to develop ECT(TM) to improve the amount of releasable glucose and develop these traits in non-food crops to increase their conversion efficiency. The SDTC funding support will also be used to support the acceleration of Performance Plants' Biomass Enhancement(TM) (BET(TM)) and Water Use Efficiency(TM) (WET(TM)) technologies. These yield stabilization technologies will be combined (stacked) with ECT(TM) to further reduce costs by sign
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SOURCE Performance Plants Inc.
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