VANCOUVER, BC and PORTLAND, OR, Jan. 30,
2012 /PRNewswire/ - Naturally Advanced Technologies Inc.
(NAT) (OTCBB: NADVF) (TSXV: NAT), which produces and markets one of
the first new natural fibers in decades, CRAiLAR®, announced it
will partner with Tuscarora Yarns, one of the world's premier yarn
innovators, to explore a host of new blended yarns using CRAiLAR
Flax.
Under the terms of the non-exclusive, non-transferable license,
Tuscarora Yarns will design and manufacture highly specialized
CRAiLAR Flax fiber yarns and related products for sale and
distribution to third party licensees of CRAiLAR.
"Tuscarora is one of the most innovative yarn spinners in the
world, and has the ability to prepare us for entry into several
unexplored categories such as couture fashion, sports performance,
extreme weather gear, and certain sectors of home furnishings,"
said Ken Barker, CEO of NAT. "This
agreement will seek to push the applications of CRAiLAR beyond our
first phase of cotton blending and establish new market sectors for
this unique and sustainable natural fiber."
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. Since March 2011, NAT has announced commercialization
or development agreements for CRAiLAR Flax fiber with HanesBrands,
Georgia-Pacific, Levi Strauss
& Co., Cintas, Carhartt, Ashland, Westex, Brilliant Global Knitwear and
Target.
About Tuscarora Yarns
Tuscarora Yarns is a maker of specialty yarns headquartered in
Mt. Pleasant, N.C. The company has
been a reliable resource for the apparel and textile industry since
1899. Tuscarora is one of the leading manufacturers of heather and
mélange yarns in the world. The company also serves the automotive
and home furnishings markets. For more information about the
company, please visit www.tuscarorayarns.com.
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
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.