Foragen Announces Investment in Radient Technologies

Vancouver, British Columbia, Canada, November 22, 2006 – Radient Technologies, Inc. (“Radient”), a global expert in the extraction, isolation and purification of high-value naturally derived chemicals, announced that is has closed a $1.2 million financing led by Foragen Technologies Limited Partnership (“Foragen”) with participation from B.C Research Inc., Koniag Development Corporation and angel investors.   

“This over-subscribed round gives Radient the ability to expand production capacity, accelerate market initiatives and provides the company with resources to actively recruit additional talent to fill technical positions necessary to meet growing customer demands”, said Armand Lavoie of Foragen.    

Radient is commercializing a globally patented microwave-based natural product extraction technology known as MAP™ (or “Microwave-Assisted Processing”). Applications include extracting high value natural active ingredients for the pharmaceutical, nutraceutical, food, cosmeceutical, fragrance, colouring, and flavouring markets.  Radient produces these high-value natural substances by combining a proprietary, globally patented extraction platform technology and its proprietary knowledge and experience in the critical downstream processing areas of isolation and purification.   Radient is focusing on marketing applications where MAP delivers a significant and sustainable competitive advantage.  The company's expertise provides customers the ability to improve their existing products, lower production costs and in some cases deliver entirely new products.  

Foragen is a Canadian investment fund dedicated to supporting and growing technologically advanced companies in the bio-food sector (www.foragen.com).  Its mandate is to promote early stage companies by offering entrepreneurs seed capital, business and management expertise and networking opportunities that will allow them to concentrate on developing and commercializing their technologies.