TORONTO--(BUSINESS WIRE)--Dec. 21, 2006--SunOpta Inc. (SunOpta or
the Company) (NASDAQ:STKL)(TSX:SOY) today announced that it has signed
a joint venture agreement with GreenField Ethanol Inc. ("GreenField"),
formerly known as Commercial Alcohols Inc., Canada's leading producer
of fuel ethanol, to develop and implement commercial scale processes
for the production of cellulosic ethanol from wood chips, including
the planned establishment of one or more commercial scale plants
employing the new process.
The first plant is planned to produce 40 million liters
(approximately 10 million gallons) of cellulosic ethanol per year,
which would be the first commercial scale cellulosic ethanol plant
built and operational in the world using wood chips. Greenfield
Ethanol and SunOpta are actively involved in selecting a site for the
first plant in Ontario or Quebec. Subsequent plants will be in the
range of 200 to 400 million liters (approximately 50 to 100 million
gallons) per year capacity.
The venture will be owned 50% by GreenField and 50% by SunOpta's
BioProcess Group and will utilize the SunOpta BioProcess Group's
patented and proprietary process solutions for the production of
cellulosic ethanol.
Steve Bromley, President and COO of SunOpta commented, "As
previously announced, the SunOpta BioProcess Group is raising $30
million to fund exciting growth projects utilizing the Group's
proprietary technology in the production of cellulosic ethanol. This
joint venture is an exciting first step in the use of these funds and
we are most pleased to partner with GreenField, combining their world
class expertise developing ethanol plants with our world class
expertise in biomass pretreatment and cellulosic ethanol
technologies."
Bob Gallant, President and CEO of GreenField commented, "This
partnership combines decades of GreenField's experience in developing
world-class ethanol plants and SunOpta's experience in developing
cellulose pre-treatment technologies. This new joint venture creates
unparalleled experience in developing cellulose technology."
The SunOpta BioProcess Group is a leader in the design,
construction and optimization of biomass conversion equipment and
facilities. With more than 30 years of experience in delivering
biomass solutions worldwide, the BioProcess Group combines its
application expertise with innovative technologies to produce
cellulosic ethanol, cellulosic butanol, xylitol, and dietary fiber for
human consumption; and is currently supplying equipment and technology
to three cellulosic ethanol projects in the U.S., Spain, and China.
GreenField Ethanol, formerly Commercial Alcohols, is Canada's
leading ethanol producer. The company produces 215-million litres a
year of corn-based ethanol at its plants in Chatham and Tiverton,
Ontario. A third facility in Varennes, Quebec is slated to open in
February 2007 and two more plants are under construction in Hensall
and Johnstown, Ontario, and will be operational in 2008. GreenField
Ethanol will be one of the top producers in North America with five
operating plants, producing more than 700-million litres of ethanol
per year by 2008.
GreenField's fuel is available at more than 1,500 gas stations
across Canada.
About SunOpta Inc.
SunOpta Inc. is an operator of high-growth ethical businesses,
focusing on integrated business models in the natural and organic food
markets. The Company has three business units: the SunOpta Food Group,
which specializes in sourcing, processing and distribution of natural
and organic food products integrated from seed through packaged
products; the Opta Minerals Group, a producer, distributor, and
recycler of environmentally friendly industrial materials; and the
SunOpta BioProcess Group which engineers and markets proprietary steam
explosion technology systems for the pulp, bio-fuel and food
processing industries. Each of these business units has proprietary
products and services that give it a solid competitive advantage in
its sector.
Forward-Looking Statements
Certain statements included in this press release may constitute
"forward-looking statements" within the meaning of the United States
Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, but are not limited to references
to business strategies, competitive strengths, goals, capital
expenditure plans, business and operational growth plans and
references to the future growth of the business. These forward looking
statements are based on certain assumptions and analyses made by the
Company in light of its experience and its interpretation of current
conditions, historical trends and expected future developments as well
as other factors that the Company believes are appropriate in the
circumstance. However, whether actual results and developments will
agree with expectations and predications of the Company is subject to
many risks and uncertainties including, but not limited to; general
economic, business or market risk conditions; competitive actions by
other companies; changes in laws or regulations or policies of local
governments, provinces and states as well as the governments of United
States and Canada, many of which are beyond the control of the
Company. Consequently all forward-looking statements made herein are
qualified by these cautionary statements and there can be no assurance
that the actual results or developments anticipated by the Company
will be realized.
CONTACT: SunOpta Inc.
Jeremy N. Kendall, Chairman & CEO
Steve Bromley, President & COO
John Dietrich, Vice President & CFO
Susan Wiekenkamp, Information Officer
Tel: 905-455-2528, ext 103
susan.wiekenkamp@sunopta.com
Website: www.sunopta.com
or
Investment Community Inquiries:
Lytham Partners, LLC
Joe Diaz, Robert Blum, Joe Dorame, 602-889-9700
diaz@lythampartners.com
SOURCE: SunOpta Inc.
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