- Company Appoints Dr. Anjana Meel Project Manager as project enters detailed engineering
- We are now pleased to be in the final stages of plant development. We felt this would be a prudent time to issue a corporate update to share our progress with the markets.” Commented Andrew Reid, CEO of Xylitol Canada Inc.
- Xylitol Canada’s consumer packaged goods division is based in Denver Colorado and has grown from under $500,000.00 in revenue in 2010. To over $8,600,000.00 in 2014.
TORONTO, ONTARIO–(July 22, 2015) - Xylitol Canada Inc., (TSX VENTURE:XYL) an innovator in xylose extraction and xylitol sweetened consumer packaged goods is pleased to announce that the Company is entering its final phases of engineering for its planned xylose production facility.
“Xylitol Canada has been committed to developing a production scale xylose facility since going public in 2010. Throughout the past 5 years we have continued to optimize our technology, identify key commercial partners, and we are now pleased to be in the final stages of plant development. We felt this would be a prudent time to issue a corporate update to share our progress with the markets.” Commented Andrew Reid, CEO of Xylitol Canada Inc.
Xylitol Canada operates 2 business units that address the growing xylose and xylitol markets. Xylitol Canada’s consumer packaged goods division is based in Denver Colorado and has grown from under $500,000.00 in revenue in 2010. To over $8,600,000.00 in 2014. Xylitol Canada operates a 50,000 square foot xylitol facility where it produces and packages a full catalog of natural sugar free products, most notably its natural sugar alternatives. Through this Denver based facility, the Company services major retail customers such as Loblaws, Whole Foods, Costco, Sprouts, and many others.
The Company attributes its continued revenue growth to negative pressure on artificial sweeteners such as aspartame, as well as increasing negative reporting on refined sugar and high fructose corn syrup. With negative sentiment contracting consumption in these two categories, natural sugar alternatives such as xylitol have been able to gain market share and satisfy increasing consumer demand.
Separately, Xylitol Canada has continued to develop and optimize innovative technology to extract xylose and other high value bio-chemicals from sustainable hardwood sources. These materials are the building blocks for xylitol and other high value bio-chemicals. Since 2010, Xylitol Canada has conducted lab scale, pilot scale, and commercial scale trials using feedstock from major commercial partners worldwide. Currently, the Company is pleased to announce that its first commercial scale xylose plant is in advanced stage planning and development.
In September 2014, Xylitol Canada appointed Roche Engineering to facilitate preliminary engineering of the Company’s first commercial plant. This plant initiative comes on the heels of 2 years of site specific trials and commercial negotiation with a key feedstock supplier.
Process optimization has continued since the Roche appointment and recently culminated in commercial grade xylose samples being produced in early 2015. These xylose samples were distributed to prospective industry partners for evaluation and the quality was universally accepted as meeting or exceeding the highest North American food grade specifications.
Currently Xylitol Canada is completing preliminary engineering and is prepared to go to detailed engineering in October 2015. Working alongside Roche, a GANTT chart has been prepared that has Xylitol Canada breaking ground on this production facility in March of 2016 and tentatively completing the project in early Q1 2017. As such, the Company recently appointed Dr. Anjana Meel to spearhead the project management.
Dr. Meel has more than twelve years of experience in research, process development, and technology transfer at various companies including Dow Chemical Company and Cool Planet Energy Systems. Dr. Meel earned a Bachelor’s in Chemical Engineering from the Indian Institute of Technology and PhD in Chemical and Bio-molecular engineering from the University of Pennsylvania.
Dr. Meel has been working closely with Xylitol Canada’s engineering firm, Roche, on bringing the project through the final stages of basic engineering and into the detailed engineering phase.
Xylitol Canada is currently an applicant for several federal and provincial grants to help fund the xylose plant. Furthermore, Xylitol Canada has engaged private market project finance partners, and is working with the Canadian Capital markets to secure financing for the project.
Xylitol Canada will provide project updates to the market as milestones are crossed throughout the coming phases of the project.
About Xylitol Canada Inc.
Xylitol Canada markets xylitol and xylitol based-products and is focused on becoming a major low-cost manufacturer of xylitol and related products, serving the global market from operations in North America. Xylitol Canada’s business strategy is to leverage novel proprietary technology and processes to become North America’s premier manufacturer of low cost, high quality xylitol from readily available environmentally-sustainable biomass. Xylitol is a natural sweetener which is marketed globally including Canada and the United States and is accepted by the American Food and Drug Administration, the World Health Organization and the American Dental Association. Xylitol contains 75% less carbohydrates and 40% less calories than sugar, has a myriad of oral health benefits including the prevention of tooth decay and is safe for diabetics. To date, wider spread use of xylitol has been limited by the lack of a reliable, low cost, high quality supplier.
Forward Looking Statements
This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Xylitol Canada to be materially different from any future anticipated results, performance or achievements expressed or implied by the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Such forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: the ability of Xylitol Canada to obtain necessary financing; the development of and demand for xylitol products; production of a commercial scale production facility; the economy generally; consumer interest in the services and products of Xylitol Canada; competition; and anticipated and unanticipated costs. While Xylitol Canada anticipates that subsequent events and developments may cause its views to change, Xylitol Canada specifically disclaim any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing Xylitol Canada’s views as of any date subsequent to the date of this press release. Although the Xylitol Canada has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The factors identified above are not intended to represent a complete list of the factors that could affect Xylitol Canada. Additional factors are noted under “Risk Factors” Xylitol Canada’s financial statements and related management’s discussion and analysis.
Xylitol Canada Inc.
Andrew Reid, CEO
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