GUELPH, ONTARIO / ACCESSWIRE / April 3, 2014 / ENPAR Technologies Inc. (TSX-V: ENP) ("ENPAR" or "the Company" or "the Corporation") reports that over the past year ENPAR's Electro-static Deionization (ESD) technology has been undergoing independent testing by a leading European research institute. The work has focused on the desalination of biomass hydrolysates that are quickly gaining interest as low-cost feedstocks for fermentation. The ESD system has been demonstrated to be an effective approach for the removal of high levels of sodium and potassium salts in the hydrolysates, thereby ensuring high biochemical productivity in the microorganisms.
Testing of model glucose or sucrose solutions containing salt showed 91-95% salt removal with 87% recovery of the sugar solution. Testing of actual hydrolysate solutions showed 95-96% salt removal and 82% product recovery. Given the high efficiencies, this study clearly demonstrates a new application for ESD.
Dr. Shelp commented, "Although these data are preliminary, ENPAR is very encouraged at the potential future economic benefits. High production costs remain one of the main obstacles for the replacement of conventional chemical synthesis by microbial fermentation to produce biofuels and chemicals like ethanol, butanol, acetone and organic acids. The institute is continuing the program, which is expected to result in larger scale testing at a facility operated by one or more of the program's participating partners. Through research initiatives of this type, ENPAR and its partners continue to develop market opportunities for its novel electrochemical water treatment technologies."
Private Placement of $500,000
The Company announces that, subject to regulatory approval and formal documentation, the Company is offering a non-brokered, private placement.
The placement will be for 5,000,000 Units at a price of $0.10 per unit. Each Unit will be comprised of one Common Share in the capital stock of the Corporation and a one-half share Purchase Warrant ("Warrant"), which is exercisable for a period of two (2) years from the date of closing. Two Purchase Warrants will entitle the holder to purchase one additional Common Share at an exercise price of $0.15 per share.
The proceeds of this offering will be used for marketing and manufacturing initiatives, and for general working capital. The private placement is subject to regulatory approval by the TSX Venture Exchange.
About ENPAR Technologies Inc.
ENPAR is a "Technology Company" applying its patented and proprietary "Electrochemical Technologies" to the treatment of waste water, desalination water and drinking water contaminated by metals or nutrients, i.e., nitrate/ammonia associated with the mining, metal processing, chemical, agricultural, municipal and waste management sectors. The common shares trade on Tier ll of the TSX Venture Exchange under the symbol "ENP".
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Dr. Gene S. Shelp, Ph.D., P.Geo.
President and CEO
Tel: (519) 836-6155
Fax: (519) 836-5683
E-mail: [email protected]
Web Site: www.enpar-tech.com
Forward Looking Statements
This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause ENPAR Technologies Inc. results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof. Certain statements contained in this press release and in certain documents incorporated by reference into this press release constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and "confident" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. ENPAR believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of this press release. ENPAR undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: ENPAR Technologies Inc.