Highlights
- Ensures strong intellectual property protection until 2041
- Secures patent for environmentally friendly soil disinfestation
material
MONTRÉAL, June 6, 2024
/CNW/ - Imaflex Inc. ("Imaflex" or the "Corporation") (TSXV:
IFX) today announced the issuance of U.S. Patent No.
11,992,0091 by the United States Patent and Trademark
Office ("USPTO") for Imaflex's novel "Pesticide-containing Soil
Disinfestation Material Without Use of Fumigant" ("ADVASEAL®").
This patent, valid until 2041, further recognizes Imaflex's
revolutionary soil treatment that eliminates the need for harmful
fumigants. ADVASEAL® effectively disinfects the soil
while minimizing the environmental impact, offering a more
sustainable approach to agricultural practices.
"We are pleased to receive this patent from the USPTO, which
ensures strong intellectual property protection for many years to
come" said Mr. Joe Abbandonato,
President and Chief Executive Officer of Imaflex. "This
recognition underscores our commitment to developing innovative
solutions that address the needs of the agricultural industry while
promoting environmental responsibility. We are confident that
ADVASEAL® could play a significant role in promoting sustainable
agricultural practices, and we are actively working to bring this
product to market as soon as possible."
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1 U.S.
Patent No. 11,992,009, "Pesticide-Containing Soil Disinfestation
Material without use of fumigant," issued by the United States
Patent and Trademark Office is available for public viewing at
https://patentcenter.uspto.gov/
|
Key Features of ADVASEAL®
- Eliminates Fumigant Use: Displaces the need for
traditional soil fumigants, which can be harmful to the environment
and human health.
- Effective Disinfestation: Provides pre-plant soil
disinfestation without the use of soil fumigants, promoting healthy
crop growth.
- Sustainable Approach: Represents a significant step
towards more sustainable agricultural practices.
- Lower Pesticide Rates and Fewer Application
Steps: Compared to traditional methods, ADVASEAL® requires
substantially less pesticides. Furthermore, the streamlined
application process of the new material may lead to reduced costs
for farmers in terms of materials and labour.
U.S. Environmental Protection Agency ("EPA")
Imaflex must secure U.S. Environmental Protection Agency ("EPA")
approval of ADVASEAL®, the final major regulatory hurdle before
bringing this innovative product to market. As is typical
with the EPA's review process, no specific timeline for a decision
has been given. Although it is taking longer than the
Corporation originally expected, we are confident that it will be
approved. We will continue to provide updates as information
becomes available.
About ADVASEAL®
Today, agricultural films are used in the growing of fresh
fruits and vegetables worldwide to cover soil treated with
fumigants – volatile and toxic pesticides essential for reducing
pests, weeds and fungi in the soil, thus supporting good growth of
new crop seedlings.
The original EPA approved ADVASEAL® (ADVASEAL® HSM), contained
only a herbicide for weed control. The new enhanced ADVASEAL®
(also called "ADVASEAL HG") also includes fungicides and a
nematicide to control soil borne pathogens, thus becoming a
complete non-fumigant alternative for soil disinfestation.
With ADVASEAL®, modern non-volatile crop protection products can be
applied more effectively and safely than with fumigants. The
crop protection products are incorporated into a coating, which is
then applied to a mulch film. Once the coated film is applied
to the ground the active ingredients are released into the soil
under controlled conditions, preventing the over/under-dosing found
with current soil disinfestation practices. This new
technology dramatically reduces the amount of crop protection
products required. The catalyst to trigger the release of the
active ingredients is soil moisture. When the film is applied
to the soil, they are efficiently and safely discharged into the
ground, resulting in heightened productivity, lower costs and
notable environmental benefits.
About Imaflex Inc.
Founded in 1994, Imaflex is focused on the development and
manufacturing of innovative solutions for the flexible packaging
space. Concurrently, the Corporation develops and
manufactures films for the agriculture industry. The
Corporation's products consist primarily of polyethylene (plastic)
film and bags, including metalized plastic film, for the
industrial, agricultural and consumer markets.
Headquartered in Montreal, Quebec,
Imaflex has manufacturing facilities in Canada and the United States. The
Corporation's common stock is listed on the TSX Venture Exchange
under the ticker symbol IFX. Additional information is
available at www.imaflex.com.
Cautionary Statement on Forward Looking Information
Certain information included in this press release
constitutes "forward-looking" statements within the meaning of
Canadian securities laws. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by the management of the Corporation,
are inherently subject to significant business, economic and
competitive uncertainties, risks and contingencies. The
Corporation cautions the reader that such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the actual financial results, performance,
or achievements of Imaflex to be materially different from the
Corporation's estimated future results, performance or achievements
expressed or implied by those forward-looking statements and that
the forward-looking statements are not guarantees of future
performance. These statements are also based on certain
factors and assumptions. For more details on these estimates,
risks, assumptions and factors, see the Corporation's most recent
Management Discussion and Analysis filed on
SEDAR+ at www.sedarplus.ca and on the
investor section of the Corporation's website at
www.imaflex.com. The Corporation disclaims any obligation to
update or revise any forward-looking statements, whether as a
result of new information, events or otherwise, except as expressly
required by law. Readers are cautioned not to put undue
reliance on these forward-looking statements.
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.
SOURCE Imaflex Inc.