BlueOcean Announces CEO Transition
October 25, 2017 (Source) — BlueOcean NutraSciences Inc. (TSXV:BOC) (BlueOcean or the “Company”) is pleased to announce that an orderly CEO transition is taking place from Dr. Marvin Heuer who headed shrimp oil business developments to John Archibald who is heading CO2 gas infusion irrigation developments. This CEO transition is due to the Company proceeding with the proposed sale of its Shrimp oil based products, brands, trademarks, inventory and tax losses announced last week and the restart of its CO2 gas infusion business. Marvin will remain on the Board and act as a Science Advisor for dissolved CO2 grow trials and commercial CO2 applications.
The Company is working with a variety of growers to use its CO2 gas infusion technology for accelerating plant and algae yields and profits in cannabis, lettuce, tobacco and algae to date. Plant leaves when sprayed/misted/fogged with dissolved CO2 irrigation water can absorb all the CO2 their genetics allow, maximizing plant growth. Grow trial proof to date includes 300% and 100% higher algae and lettuce yields using dissolved CO2 water at NRC Canada’s algae labs and at the U of Guelph.
The Company expects greenhouse growers using dissolved CO2 irrigation to achieve a further 10%-20% yield improvement over CO2 gassing which typically adds 33% to indoor plant yields while reducing CO2 costs due to no gas losses. Outdoor yields could rise 25%-100% depending on crop type and degree of irrigation used. There is no alternative to applying CO2 outdoors on plants as no one to date has dissolved CO2 gas into outdoor irrigation as a nutrient.
BlueOcean NutraSciences Inc. is a Canadian public listed company (TSXV:BOC) whose mission is to develop effective, innovative and sustainable products from Natural Sources, to improve the lives of its customers. This includes naturally accelerating plant growth. BlueOcean’s first specialty ingredient is its patent protected shrimp oil which is the base for its current three consumer brands. Shrimp oil is made from sustainably managed North Atlantic cold water shrimp shells (the by-product of the cooked and peeled shrimp process) which contains phospholipid bound omega-3 fatty acids and over 40 times more natural astaxanthin compared to krill oil ingredients.
Shrimp oil’s unique nutritional properties enables the ingredient to make numerous health claims across a wide range of markets, including the $4Bn omega-3 heart health market, the $9Bn joint health market and the $10Bn sports supplement market. BlueOcean markets its shrimp oil ingredient through a number of consumer brands that are formulated to target these specific markets.
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BlueOcean currently markets its shrimp oil under three consumer brands: Pure Polar(R) Omega-3 Shrimp Oil, Joint AXTM and Sport AXTM. Products may be purchased online at purepolarlabs.com
Its CO2 gas infusion technology is being commercialized by applying the dissolved CO2 water to plant leaves via foliar spray as a novel means to provide CO2 more efficiently to greenhouse and outdoor plants. Applying dissolved CO2 to plants by foliar spray can potentially save a greenhouse up to 60% of its CO2 gassing costs which are currently wasted, and accelerate plant growth further for higher yields.
Global markets for using dissolved CO2 irrigation are 1) the $8 Trillion/y food market of which $340 Billion/y is from Greenhouses and 2) $50B/y by 2022 for legal cannabis. The Company filed for a USPTO Patent that is the first of its kind for applying dissolved CO2 to plants via foliar spray/irrigation. No other patent has been issued for applying CO2 to plants by foliar spray.
This news release may contain forward-looking statements that are based on BlueOcean’s expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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