A forecasted 600,000 units to be produced for major US-based consumer electronics retailer
Vancouver, BC – Solegear Bioplastic Technologies Inc. (TSX-V:SGB) (“Solegear” or the “Company”) and r-pac International, a leading global supplier of retail packaging, announced today a replenishment order from r-pac International, to provide Solegear’s proprietary TF4000 bioplastic for the production of smartphone case packaging to support an upcoming launch at a leading US-based consumer electronics retailer. This order represents a forecast of 600,000 smartphone case packages to be produced by r-pac from Solegear’s plant-based bioplastic with delivery commencing in this quarter.
“Following an initial launch of plant-based smartphone case packaging last fall, this latest order represents an ongoing commitment from the retailer to meet demand from consumers for more sustainable products and packaging,” said Paul Antoniadis, CEO of Solegear. “Our collaborative partnership with r-pac International means that we continue to develop packaging materials that meet real-world performance and manufacturing requirements for Fortune 500 brands, and these solutions are resulting in long-term customer relationships and commitments.”
Solegear’s Traverse TF4000 is a USDA BioPreferred® packaging material with independently verified plant-based content and enhanced thermal properties. Designed as a drop-in replacement for petroleum-based plastic packaging, TF4000 can be readily processed in standard thermoforming equipment and contains no BPAs, phthalates or other chemicals of concern.
“Delivering innovative solutions is key to nurturing long-term partnerships with our clients,” stated Michael Teitelbaum, CEO of r-pac. “Through our continued collaboration with Solegear, we have been able to execute on this goal with industry-leading plant-based plastic packaging without sacrificing logistic or brand performance.”
About Solegear Bioplastic Technologies Inc.
Solegear Bioplastic Technologies Inc. (TSX-V:SGB) is an innovator in the field of next generation bioplastics made from annually renewable plant-based sources. Committed to the principles of Green Chemistry, Solegear is driven by its mission to create healthier, safer and stronger communities by fundamentally changing the way plastics are made.
Solegear’s proprietary bioplastic formulations, Polysole® and Traverse®, are designed to meet today’s social and corporate requirements to lower carbon emissions, reduce waste and remove toxicity typically associated with traditional petroleum-based plastics. Together with its partners, Solegear custom engineers, produces and distributes its high-performance bioplastics as resin, sheets and finished goods with some of the highest percentages of renewable, plant-based materials currently available in the industry.
About r-pac International Corp
Established in 1987, r-pac International Corporation is a leading global supplier of branded packaging and trims for retailers and designers. r-pac International is located in 24 countries and their production facilities are audited for social and ethical compliance. r-pac International’s corporate headquarters is located in New York, and regional international headquarter offices in Hong Kong, Singapore and Luxembourg. The company’s product line includes corrugated boxes, jewelry boxes, POP displays, shopping bags, polybags, blister/clamshell packaging, woven & printed labels, heat transfers, tapes, hangtags, backer cards, patches and stickers.
On behalf of the Company:
“Paul Antoniadis” Chief Executive Officer and Director
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This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
Cautionary Statement Regarding Forward-Looking Information
Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Such factors include, among others, the risk that: (i) future orders may not be placed by the customer; and (ii) that sales projections may not be within the current range forecasted.
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