Solarvest Announces Natural Sciences and Engineering Research Council of Canada (NSERC) Funding Approvals

CHARLOTTETOWN, PRINCE EDWARD ISLAND--(Marketwired - July 22, 2013) - SOLARVEST BIOENERGY INC. (TSX VENTURE:SVS) ("Solarvest"), announces that it has been successful at receiving approval for two NSERC projects. After determining a company's eligibility as it pertains to research, technology and commercialization abilities an approved company may apply to support a specific research objective(s) in conjunction with an eligible Canadian College or University. The projects often support a post graduate student researching in a NSERC supported field, who is funded by NSERC to work with the company to further their R&D objectives. Solarvest has applied for and received approval for the two projects outlined below.

The first NSERC Industrial Postgraduate Scholarships Program (IPS) project "Expression of recombinant proteins in Chlamydomonas reinhardtii (algae) using a unique fusion system" is in partnership with Dr. Illimar Altosaar's laboratory at the University of Ottawa. C. reinhardtii has demonstrated protein expression at commercially significant levels with the benefit of having the cellular machinery to properly fold and assemble human proteins and antibodies that reproduce natural forms. This results in highly effective and valuable proteins that make excellent candidates for active biologics and vaccines. The project will study a method of expression with the objective of developing a process that will enable the efficient and cost effective purification of recombinant therapeutic proteins.

The second approved Engage Program project "Molecular characterization of the Solarvest H2 (hydrogen) producing algal strain for the development of targets for strain and process improvement" is in partnership with Dr. Patrick C. Hallenbeck's laboratory at the University of Montreal. The project is focused on further defining specific operational conditions that will enhance hydrogen production in the Solarvest proprietary algal strain Chlamydomonas reinhardtii Cyc6nac2. 49 and to identify key molecules that are involved in regulating increased hydrogen production. Efficient hydrogen production is sought due to its value as a totally clean fuel. Hydrogen can be burned or used in a fuel cell and releases heat energy and water as its only byproduct.

About Solarvest BioEnergy:

Solarvest BioEnergy Inc. is an algae technology company whose algal-based production platform provides it with an extremely flexible system capable of being adapted to produce clean energy in the form of hydrogen and health products such as Omega oils in an economic and environmentally sensitive manner.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither 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.

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from Solarvest's expectations and projections.