New Fiber Expected to Bolster
Sustainability of Products
VANCOUVER, BC and PORTLAND, OR, Dec. 1,
2011 /PRNewswire/ - Naturally Advanced Technologies Inc.
(NAT) (OTCBB: NADVF) (TSXV: NAT) announced it has entered into a
development and supply agreement with Target (NYSE: TGT) to
evaluate the use of its CRAiLAR Flax fiber in Target's domestic
textiles category beginning December
1. The agreement includes two years of exclusivity in the
category and calls for Target's evaluation of CRAiLAR Flax in a
number of products including sheets, top of bed, shower curtains,
window treatments, table linens, decorative pillows, towels, and
more.
"Target represents a best-in-class partner for CRAiLAR in the
domestic textiles category," said Ken
Barker, CEO of Naturally Advanced Technologies. "Also the
fiber's performance in moisture management, shrinkage reduction,
and dye chemical savings is in line with Target's sustainability
efforts."
The proprietary CRAiLAR enzymatic process, developed by
Vancouver-based NAT in conjunction
with the National Research Council of
Canada, turns natural bast
fibers—such as flax, hemp, jute, and kenaf - into soft, finished
textiles that are as comfortable as cotton, but more durable and
eco-friendly. The result is a product that can integrate with
existing technology for spinning, weaving, or forming fabric, which
can be used across categories such as apparel, footwear, work wear,
and domestic textiles. Additionally, CRAiLAR can be used for a
number of industrial applications. This year, NAT has announced
commercialization or development agreements for CRAiLAR Flax fiber
with HanesBrands, Georgia-Pacific,
Levi Strauss & Co., Cintas, Carhartt, Ashland, Westex and Brilliant Global
Knitwear.
About 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 DisclaimerThis 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.