Progressive Planet Solutions Announces First Purchase Order with ZS2 Technologies Ltd.
KAMLOOPS, Oct. 21, 2022 - Progressive Planet Solutions Inc. (TSXV: PLAN) ("PLAN", "Progressive Planet" or the "Company"), a dominant manufacturer of agricultural, household and industrial products whose pioneering blue-sky technology turns post-consumer glass into high-performance cement using CO2 sequestration, is pleased to announce it has signed an initial purchase order with ZS2 Technologies Ltd. ("ZS2") to provide a proprietary blend of PozGlass™ SCM and PozZeo™ SCM. ZS2 Purchase Order
Progressive Planet will begin regular monthly two tonne shipments to ZS2 in Q1 2023 when ZS2 commissions its Phase I Commercial production facilities for the first ever Made-In-Canada magnesium suite of fire resistant, high-strength, sustainable cost-effective construction materials. ZS2's proprietary low-carbon cement formulations have received significant third-party validation including recent recognition as a milestone finalist in the Carbon Removal XPrize. At full capacity, the Phase I Commercial Plant can demand monthly shipments of up to 200 tonnes.
Commenting on the partnership with ZS2, Stephen Harpur CEO of PLAN said: "After considerable testing over the past two years, we have developed a proprietary blend of PozGlass and PozZeo made specifically to maximize high-performance with a lower-carbon footprint compared to traditional materials for ZS2's building materials. We are extremely excited with their progress bringing a suite of low-carbon, high-performance building technologies to market."
ZS2 CEO Scott Jenkins added, "We expect to continue to grow our partnership with PLAN as 2023 approaches and become a major client and strategic partner as they continue to bring innovative products to market, which are critical components of our proprietary TechFloor™, TechTile™ and TechBoard™. Our Phase I Commercial Plant will be expanded rapidly, and we expect increasing requirements for the proprietary blend of PozGlass and PozZeo as 2023 progresses and beyond."
Additional Announcement
Scott Jenkins, CEO of ZS2, has agreed to step down from the Board of Directors of Progressive Planet as a matter of ensuring appropriate independence and governance with respect to the growing commercial and technology development partnership between the two growing companies. His departure is effective October 20, 2022.
"I want to thank Scott for his incredible support as a valued Board member and supporter of PLAN. Our growing partnership with ZS2 will ensure Scott's continued support and counsel. PLAN is focused on continuously improving our governance and we agreed that this was appropriate at this time," said Stephen Harpur, PLAN's CEO.
Progressive Planet is an established B2B manufacturer of agricultural, household, and industrial products whose pioneering blue-sky technology turns post-consumer glass into high-performance cement using CO2 sequestration.
PLAN is developing and producing a portfolio of proprietary solutions focused on sequestering CO2 and minimizing the carbon footprint to help our customers build, grow, live, and operate more responsibly.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
SOURCE Progressive Planet Solutions
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or investor relations inquiries, please contact us: 1-800-910-3072, Investors@progressiveplanet.ca, www.progressiveplanet.ca