Discovery Minerals Ltd. has agreed to form a Joint Venture (JV) partnership with Bio-fuel Technology company Syngar Technologies, Inc. (SGI) of Alberta, Canada.
The Joint Venture will authorize use of Syngar's synthesis technology for applications within the Industrial Hemp sector. The result is a sustainable approach toward the cultivation and processing of industrial hemp. The JV partnership will also have access to research funding and facilities through the Alberta research counsel. This access to resources will allow the JV to continually keep pace with the maturing industrial hemp industry within North America. Discovery's immediate benefit is the ability to book the intellectual property's value as an asset on its financial statements.
In 2010, Syngar Technologies successfully licensed the "Pulsed Low Ultra Sound Wave" (PLUSWave) Technology for the exclusive and worldwide application in biofuels with further options for certain protein therapeutic molecules. The PLUSWave Technology utilizes specific and proprietary ultrasound frequencies at specific power levels and set time intervals which stimulate the fermentation growth of microorganisms, mammalian cell cultures, and increases protein expression. The benefit to Discovery, through the JV, is the PLUSWave technology allows for the use of non-food grade cellulose material in the biofuel fermentation process rather than traditionally relying on food grade sources such as corn. Additionally, the possibility exists to utilize smaller infrastructural components for the fermentation process. A small scale on-site application will collect and utilize any unused or waste biomass creating an economical biofuel production ability for individual and collective growers.
The JV partnership will immediately begin to sell sub licenses to the existing available Canadian hemp market and growers awaiting access to the American market.