QUEBEC CITY, Sept. 30, 2013 /CNW Telbec/ - Innovente inc. (TSXV: IGE) ("Innoventé" or the "Corporation") is pleased to announce the commercial operation of its first plant in Saint-Patrice-de-Beaurivage. Delivery of electricity to Hydro-Québec Distribution began according to the terms of the contract after the Corporation successfully completed all compliance tests and trials. Innoventé thus officially reaches the status of renewable energy producer.
"This commercial operation marks the fulfillment of years of efforts aimed at bringing a green and economically viable solution for the production of electricity from organic residues. It also enables the Corporation to start generating substantial revenue immediately. The Saint-Patrice plant is becoming Innoventé's showcase, a model that has already begun to multiply, with projects announced in Trois-Rivières and Matane," said Richard Painchaud, President of Innoventé.
The power purchase agreement with Hydro-Québec Distribution is for a period of 25 years, effective in September 2013, and provides for the production of 4.6 MW of electricity at a price of 12 cents/kWh (2009$), indexed at 2.13%/year.
Based in Québec City, Innoventé produces renewable energy and provides communities with a green and sustainable solution for the management of organic residues through its technology patented in Canada and the United States. Innoventé's shares are listed on the TSX Venture Exchange under the symbol IGE (TSXV: IGE). www.innovente.ca
Caution Regarding Forward-Looking Information
Certain statements contained in this document, including those that express management's expectations or estimates regarding the Corporation's future performance, are "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information is necessarily based on a certain number of estimates and assumptions which, while considered plausible by the management when they are made, are inherently subject to significant commercial, economic and competitive risks and uncertainties. We advise investors not to rely unduly on forward-looking information. The Corporation further declines any intention or obligation to publicly update this forward-looking information, whether due to new information, or future or other events.
Neither the TSX Venture Exchange nor its regulation service provider (as these terms are defined in policies of the TSX Venture Exchange) bears responsibility for the adequacy or accuracy of this press release.
SOURCE: Innoventé Inc.
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Director of Communications, Innoventé
Tel : (418) 692-1011 Ext. 200