Naturally Advanced Technologies and Georgia-Pacific Consumer Products Enter Into a Three-Year CRAiLAR Flax Fiber Supply Agreement
VANCOUVER, B.C. and Portland, Ore. (September 7, 2011) - Naturally Advanced Technologies Inc. (NAT) (OTCBB: NADVF) (TSXV: NAT) today announced that it has entered into a three year CRAiLAR® Flax fiber supply agreement with Georgia-Pacific Consumer Products LP starting Sept. 1, 2011.
The companies recently announced a short-term purchasing agreement using CRAiLAR Flax fibers, which allowed for Georgia-Pacific Consumer Products to purchase CRAiLAR Flax fiber from NAT for additional product testing.
"It is extremely gratifying to conclude this commercialization agreement for CRAiLAR Flax fibers with Georgia-Pacific Consumer Products,” said Ken Barker, CEO of NAT. “Our agreement with Georgia-Pacific Consumer Products holds considerable potential in the fields of use indicated thus far, and we will be able to continue to explore further uses for CRAiLAR Flax fiber.”
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 and the Alberta Innovates. 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.