/NOT FOR DISTRIBUTION IN THE
Announces
Additionally, Progressive Planet announces it has reached an Equipment Purchase Agreement with
"The purchase of this thermal processing kiln equipment from Progressive Planet will dramatically increase our capacity to process lignin as we scale up our pilot plant production," says CarbonIP CEO
Added Richardson, "Lignin hard carbon will be a critical success factor in helping develop and secure
Recently, CarbonIP was awarded a funding amount of
Progressive Planet will receive a 2% royalty on any resulting sales made from the successful commercialization of the renewable HC technology by CarbonIP (formerly
"Progressive Planet has a strategy to create IP and monetize it through product sales and royalties, with royalties expected to be a significant revenue driver for our company," says Progressive Planet CEO
Added Harpur, "Collecting our first royalties on existing IP for cat litter formulations is an important milestone to complement potential royalties for developing technologies such as PozGlass™ 100G and CarbonIP's renewable hard carbon technology. Our company continues to pursue opportunities to receive royalties on other existing IP, such as patented Activated Barn Fresh™."
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.
Neither the
We are a
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
SOURCE
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