/NOT FOR DISTRIBUTION IN THE USA./
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.
Progressive Planet provides regular information for investors on
its website: progressiveplanet.com/investors/. This includes
press releases and other information about financial performance,
patents filed, and information on corporate governance. For further
information or investor relations inquiries, please contact:
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this release.
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.
Forward-Looking
Statements:
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.
Disclaimer:
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