Federal Support Helps Solarvest PEI Inc. Pursue Emerging Biological Technologies

SOLARVEST BIOENERGY INC. (TSX VENTURE:SVS) is pleased to announce that its
Charlottetown-based subsidiary, Solarvest (PEI) Inc., is pursuing an innovative,
new source of renewable energy by generating hydrogen through algae production
with the support of more than $377, 000 from the federal government.


The Honourable Keith Ashfield, Minister of National Revenue, Minister for the
Atlantic Canada Opportunities Agency (ACOA), and Mr. Michael McDougall, Team
Engineering Lead at Solarvest (PEI) Inc., met today in Charlottetown to announce
funding details and tour the Solarvest facility.


"Our Government is committed to initiatives that support our small- and
medium-sized business community and continue to fuel the growth of an innovative
economy on Prince Edward Island," said Minister Ashfield. "This investment
supports Solarvest's innovative research into the development of a unique
renewable energy resource."


Solarvest has proprietary technology that, for the first time, enables algae to
produce hydrogen in a continuous cycle in a single vessel. It has the potential
to produce more hydrogen than existing systems. Solarvest's goal is to further
develop and scale up its algal-based, "green" system for commercial hydrogen
production. The hydrogen could be used as a "gas" or used on algae farms to
produce electricity.


"The support of the Federal Government through programs like the ACOA Business
Development Program has enabled us to pursue this extremely exciting renewable
energy opportunity, which may have otherwise been impossible," said Mr.
McDougall. "In order to reduce our dependence on oil, we must develop a
sustainable substitute, and have the time to implement it."


The Government of Canada is investing $377,927 in this research and development
project through ACOA's Business Development Program. Solarvest (PEI) Inc. is
investing over $235,000.


About Solarvest: Charlottetown-based company, Solarvest (PEI) Inc., a wholly
owned subsidiary of Solarvest BioEnergy Inc., is pursuing an innovative, new
source of renewable energy by generating hydrogen through algae production. ACOA
is investing more than 377,900 dollars in the innovative project. ACOA Minister
Keith Ashfield and Michael McDougall, Team Engineering Lead at Solarvest (PEI)
Inc., made the announcement today. Solarvest is committed to the development of
sustainable and renewable energy sources to meet growing energy demands and
environmental challenges. 


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 the Company's expectations and projections.