Vancouver, B.C. - TheNewswire - October 4, 2022 – Solarvest BioEnergy Inc. (“Solarvest”, or the “Company”) (TSXV:SVS), (“Solarvest” or the “Company”), announces the Board of Directors has mandated the management of Solarvest including the Advisory Committee to evaluate different scenarios to be presented shortly to the Board of Directors in order to accelerate the development of the successful proof of concept of the Company’s Green Bio-Hydrogen.

With the recent initiatives from numerous Government’s around the world to invest in the development of Green Hydrogen, including Canada and many provinces, Solarvest intends to pursue collaborative agreements with various private and public institutions to develop the mechanisms that will further the commercial development of producing Green Bio-Hydrogen from algae.

Bill Cheliak, board member of Solarvest said “We believe the time is ripe to further develop Solarvest’s initial work in Green Bio-Hydrogen production. We have mandated Solarvest management to present us a clear plan to reactivate the development of our Green Bio-Hydrogen vertical market which will include a financing plan along with strategic partnerships that should be targeted.”

Solarvest Bioenergy Inc. has previously announced third-party confirmation of its Green Bio-Hydrogen expression system following the successful completion of a previously announced six-month NSERC Engage project with Dr. Hallenbeck at the Université de Montreal, a world leader in Green Bio-Hydrogen production and proteomics.

The study indicated that the Solarvest’s improved strain of microalgae produced six times more hydrogen per cell as compared to the industry standard wild-type strain. In addition, the Solarvest strain demonstrated continuous hydrogen production; producing hydrogen ten times longer when compared to the industry standard wild-type microalgae. The Company expects that yield can be further improved with optimization of culture conditions and strain improvements.

Solarvest has obtained patents in many countries that cover this Hydrogen technology. In addition to the intellectual property, the Company has in-house expertise and know-how to deploy this technology at scale.  

About Solarvest  

Solarvest BioEnergy Inc. is an algae biologics company whose production platform provides an extremely flexible system capable of producing numerous products from omega-3 fatty acids to human therapeutic proteins. The company has successfully demonstrated the expression of high-value biological API - therapeutic proteins, viral antigens (immune-stimulating proteins), and Cecropins (antimicrobial peptide/protein).

For further information contact:

Gerri Greenham, CEO

Tel: (647) 204-4095

Email: invest@solarvest.ca

Forward-Looking Statement

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

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 press release.