Latest Order Confirms Organic Growth Potential for Solegear’s Plant-Based Packaging Materials
Vancouver, BC – Solegear Bioplastic Technologies Inc. (TSX-V:SGB) (the “Company” or “Solegear”) announced today that it has received an initial truckload order for bioplastic rollstock from a worldwide developer, manufacturer and marketer of custom thermoformed plastic packaging in the retail, industrial and food industries. This new customer program is expected to generate revenue in the Company’s current quarter.
“This latest organic growth reinforces the quickly increasing demand we’re seeing in the marketplace for healthier, more sustainable packaging options,” said Paul Antoniadis, CEO of Solegear. “In the last quarter alone, we have seen over a four-fold increase in the number of new customer inquiries for plant-based packaging that reduces reliance on fossil fuels and eliminates hazardous chemicals, like phthalates and styrene. We’re very pleased to be emerging as one of the top plant-based packaging providers being considered amongst these new customers.”
Solegear’s FDA approved, food safe packaging materials are designed as drop-in replacements for petroleum-based thermoformed plastic packaging. All of Solegear’s plant-based rollstock can be readily processed in standard thermoforming equipment and contain no BPAs, phthalates or other Chemicals of Concern.
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 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.
On behalf of the Company:
“Paul Antoniadis” Chief Executive Officer and Director
Capital Markets Advisor:
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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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