PORTLAND, OR, April 14 /PRNewswire/ - Naturally Advanced
Technologies Inc. (NAT) (OTCBB: NADVF) (TSXV: NAT) today announced
that it has entered into a short term CRAiLAR® Flax fiber
development agreement with Levi Strauss & Co. beginning in
April 2011 to support evaluation of
processing CRAiLAR flax fiber in woven casual apparel products,
specifically denim and non-denim, bottom and top weight
fabrics.
"Levi's and Dockers are the quintessential denim and casual wear
brands," said Ken Barker, CEO of
NAT. "We are very excited to be working with a company like Levi's
because it aligns with our broad strategic goal of identifying and
partnering with the most important brands in categories upon which
we believe we can make the greatest impact. I have great confidence
in the ability of CRAiLAR to make a performance and economic impact
for Levi's products."
Last month, the Company announced a 10-year purchasing agreement
with Hanesbrands. This was the first commercialization agreement
for its CRAiLAR flax fiber. Later that month, it announced a short
term purchasing agreement with Georgia-Pacific to further evaluate the use of
CRAiLAR in formed materials.
Naturally Advanced Technologies Inc.
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® 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. 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.