KAMLOOPS, BC, Sept. 22,
2022 /CNW/ - 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
the commencing of low-carbon cement field trials and Ag-Tech plant
construction.
Commencing Field Trials
Earlier this month, PLAN received and commissioned a
custom-designed batch ball mill ordered in January 2022. In the past, PLAN could only
produce lab scale quantities of 100 grams per day. The new mill
allows PLAN to produce 500kg of material per day, which is ample
quantity for field trials in both the cement and agriculture
industries.
Immediately upon receiving this mill, PLAN produced and dropped
off 500kg of PozGlass™ SCM, PozDE™ SCM, and PozZeo™ SCM samples
requested by three companies in Calgary. PozZeo SCM is a zeolite-based SCM
designed for the magnesium cement industry.
Early Field Trial Results
ZS2 Technologies Inc. ("ZS2"), one of the three companies
provided samples, shared 7-day test results for a 33 weight-percent
incorporation of PozGlass SCM and PozZeo SCM samples into their
magnesium-based cement showing more than twice the required
structural capacity of Portland
cement.
"Progressive Planet has provided us a circular economy solution,
a post-consumer glass product currently bound for landfill, and it
has shown considerable strength benefits in our waste-to-cement
products," said Dr. Doug Brown, CTO
of ZS2. "We are excited by the potential to further lower
ZS2's cement carbon footprint by being an early adopter in the
commercialization of PozGlass SCM. If lab results scale, we
anticipate requirements in excess of several thousand tonnes in our
Phase I plant's first year of operation with Phase II deployment
expected to exceed 20 thousand tonnes annually of PozGlass
SCM."
Actions To Enhance Gross
Margins
A strategic implementation is underway to materially enhance
gross margins showing progress to actions highlighted in the
Management's Discussion & Analysis For the Year Ended
April 30, 2022 published on
August 29, 2022 (the
"MD&A") filed on the SEDAR website: www.sedar.com.
At the date of acquisition, Progressive Planet Products Inc.
("PPP") had 420 stock-keeping units ("SKUs"). As referenced
in the MD&A, PLAN began an immediate analysis of all SKUs to
reduce costs associated with frequent manufacturing line
change-overs while recognizing that over 75% of sales come from
just 30 SKUs. To date, PPP has achieved a 33% reduction in active
SKUs and will continue this strategic consolidation with updates to
follow.
Ag-Tech Plant Construction
As referenced in the MD&A, PLAN intends to process
low-carbon cements and regenerative fertilizers in a separate
building to the legacy operations, which would increase processing
output while utilizing existing team members and equipment where
possible. The expansion within existing space is made possible
because of steps taken to optimize warehouse space as described in
the MD&A. Construction of the standalone Ag-Tech plant is
underway with the first line expected to be operational making
regenerative fertilizer powders by October
17, 2022.
"PLAN operates a business that sells innovative products to
customers in every province and every state," says Steve Harpur, CEO of PLAN. "With a mandate to
grow, we are committed to co-producing fertilizers and cements
while maintaining our legacy business."
About Progressive Planet
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