Progressive Planet finalizes purchase agreement with Lafarge Canada Inc.
by CM Staff
The purchase agreement follows the non-binding MOU with Lafarge, and allows Progressive Planet to now focus on proving the patent-pending PozGlass technology.
KAMLOOPS — Progressive Planet, a manufacturer of cleantech solutions, signs a purchase agreement with Lafarge Canada Inc. agreeing to purchase all the PozGlass™ 100G 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, 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.
