Announce of Quarterly Results and a New Director - Innoventé On The Way Of The Growth

Announce of Quarterly Results and a New Director - Innoventé On The Way Of 
The Growth 
QUEBEC, Sept. 28, 2012 /CNW Telbec/ - Innovente inc. (TSXV: IGE) ("Innoventé" 
or the "Corporation") announces its quarterly results for the period ended 
July 31, 2012. This period was marked by the preparation of the 
commissioning of its first green energy plant in St-Patrice-de-Beaurivage. 
"Innoventé is getting ready to reap the benefits of its efforts, commented 
Mr. Richard Painchaud, chairman and CEO of Innoventé. We are soon going to 
inaugurate our first plant and begin the construction of a second one in 
Trois-Rivières following the signing of a new contract earlier this week. Our 
technology is viable and recognized and we can now think of accelerating our 
development in new markets. " 
Financial Highlights for the Quarter 

    --  During the quarter, the reconstruction of the CHP plant
        progressed. The structure of the building have been completed,
        the major components are in position in the plant and are being
        connected by the construction and maintenance teams. The
        installation of auxiliary equipment is also underway.  The
        Corporation expect that his plant will be commissioning in the
        next weeks.
    --  The Corporation received $1,250,000 on July 3, 2012 as second
        tranches of its $2,500,000 loan financing from Investissement
        Québec. On July 30, 2012, the Corporation received an initial
        tranche of $3,172,624 under financing consisting of
        a $6,000,000 pari passu loan from National Bank of Canada and
        Caisse Desjardins de La Nouvelle-Beauce. The balance of the
        loan will be received based on the percentage of completion of
        construction of the plant.
    --  On September 24, 2012, the Corporation entered into a power
        sales contract with Hydro-Québec Distribution. Under this
        25-year term contract, as of May 1st, 2015, the Corporation has
        undertaken to supply, on an annual basis, the equivalent of
        69,379 megawatt hours ("MWh") at a selling price of $106/MWh,
        indexed annually at Consumer Price Index. By that date, the
        Corporation must have built a cogeneration power station to
        deliver the electricity quantities stipulated in the contract.
        For the signature of this agreement, the Corporation issued a
        new irrevocable letters of credit for an amount of $220,000 as
        a security deposit.

Financial results 

Data from the statement of loss and
comprehensive loss
For the quarter ended July 31, 2012 (in
                                             Three-month periods ended
                                          July 31, 2012  July 31, 2011

Operating revenues                                    -              -

Net loss and comprehensive loss               (515,428)      (260,123)

Basic and diluted loss per share                (0.013)        (0.009)

Statement of financial position data                                  
                                          July 31, 2012 April 30, 2012

Cash and cash equivalents                     3,748,502      1,697,307

Total assets                                 16,263,112     12,443,662

Additional Information in Regards to the quarter ended July 31, 2012

The financial information in regards to the quarter ended July 31, 2012 should 
be read in conjunction with the Corporation's annual financial statements and 
the Management's Discussion and Analysis for the fiscal years ended April 30, 
2012 and 2011 dated August 21, 2012. These documents are available at

Normand Bergeron Joins the Board of Directors

During its annual meeting of shareholders held on September 26, 2012, 
shareholders proceeded to the election of Company's directors. "We are happy 
to welcome Mr. Normand Bergeron in our directors' experienced team, declared 
Mr. Richard Painchaud. His expertise in the energy sector brings undeniable 
depth and added value to our board of directors."

Normand Bergeron was Deputy Minister of the Quebec Ministry of Natural 
Resources and Wildlife from 2005 till 2009. He held the functions of 
Vice-President of the Quebec Energy Board from 2002 to 2005, the functions of 
Associate Deputy Minister for Energy and Climate Change from 2000 to 2002 and 
of Managing Director of the Energy Efficiency Agency from 1998 till 2000. Mr. 
Bergeron was on the Hydro-Québec's board of directors.

The Board of Directors authorized a grant of 75,000 stock options to Mr. 
Bergeron as a director of the Company. Pursuant to the terms of the 
Corporation's stock option plan, each option grants the holder of such option 
the right to purchase a common share of the Corporation at a price of $0.85 
per share no later than September 26, 2022.

About Innoventé

Innoventé is an innovative producer of renewable energy. The Company has 
developed a ground-breaking concept that provides communities with a green and 
sustainable organic waste management solution. Known as "intelligent 
electricity," this solution converts organic waste into electricity, heat, and 
fertilizing products, thereby reducing greenhouse gas emissions. Innoventé's 
intelligent electricity is a solution designed to improve environmental 
quality and stimulate economic development - and it can easily be applied in 
all communities. Innoventé has nearly completed construction of its first 
intelligent electricity power station, which will serve 6,000 residents in 
Quebec's Chaudière-Appalaches region. This pioneering power station leads the 
way for future application of our concept around the world.

Disclaimer in regards to forward-looking statements

Certain statements included herein, including those that express management's 
expectations or estimates of our future performance, constitute 
"forward-looking statements" within the meaning of applicable securities laws. 
Forward-looking statements are necessarily based upon a number of estimates 
and assumptions that, while considered reasonable by management at this time, 
are inherently subject to significant business, economic and competitive 
uncertainties and contingencies. Investors are cautioned not to put undue 
reliance on forward-looking statements. The Corporation disclaims any intent 
or obligation to update publicly these forward looking statements, whether as 
a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as these 
terms are defined in the policies of the TSX Venture Exchange) accepts 
responsibility for the adequacy or accuracy of this release.

Mrs. Isabelle Jomphe Vice-president Finance Innoventé inc. 418 692-1011 ext 

Mrs. Caroline Bouchard Director of communications Innoventé inc. 418 692-1011 
ext 200

SOURCE: Innoventé Inc.

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CO: Innoventé Inc.
ST: Quebec

-0- Sep/28/2012 13:00 GMT

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