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Advances partnership with Canada's largest cement producer
KAMLOOPS, BC, June 29, 2023 /CNW/ - Progressive Planet (TSXV: PLAN) (OTCQB: ASHXF) ("Progressive Planet", "PLAN", or the "Company"), a leader in developing CleanTech solutions for the planet, signs a purchase agreement with Lafarge Canada Inc. ("Lafarge") agreeing to purchase all the PozGlass™ 100G ("PozGlass") produced by the Company's pilot plant up to a maximum of 3500 metric tonnes per year.
The purchase agreement follows the non-binding MOU with Lafarge announced March 13, 2023, and allows Progressive Planet to now focus on proving the patent-pending PozGlass technology as a bolt-on solution for existing cement plants in North America and around the globe.
"The purchase agreement is an enormous accomplishment," says Progressive Planet VP of Strategy and Investor Relations Ian Grant. "It positions us for global licensing and royalties, which will be an important revenue driver for our company."
Added Grant: "Glass has virtually the same chemical composition worldwide, which lends itself to rapid scalability for cement manufacturers utilizing PozGlass technology."
The Kamloops-based pilot plant, the final step to validate this technology, begins construction in 2023 and will be operational in 2024. Lafarge provides technical guidance and support to Progressive Planet in advancing the proprietary PozGlass technology through design, construction, and operation of the pilot plant.
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About Progressive Planet:
We are a CleanTech and manufacturing company based in Kamloops, British Columbia, in the heart of some of Canada's richest volcanic fields, which are the prime ingredient of our innovations. Our expertise lies in merging CleanTech with ancient volcanic ash and recycled minerals to create planet-friendly products that fight climate change and protect our planet's health.
Our products are in 10,000+ retail stores across North America. Our innovations, created at our C-Quester™ Centre of Sustainable Innovation, bring positive disruption to the cement, agricultural and animal-care sectors by creating products that help reduce carbon footprints and restore ecosystems.
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.
This news release, required by Canadian laws, does not constitute an offer of securities and is not for distribution or dissemination outside Canada.
SOURCE Progressive Planet Solutions
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