A forecasted 750,000 unites to be produced using Solegear’s Traverse® TF4000 plant-based material
Vancouver, BC – Solegear Bioplastic Technologies Inc. (TSX-V:SGB) and r-pac International, a leading global supplier of retail packaging, have collaborated with a major US-based consumer electronics retailer to produce smartphone case packaging in support of the most recent phone release from a market share leader. This commitment represents a forecast of 750,000 units with delivery commencing in the next quarter.
“Solegear’s product development team has worked diligently with r-pac to develop and refine our TF4000 bioplastic to ensure it would meet retailers’ quality expectations to withstand the impact of demanding transportation and in-store environments,” said Paul Antoniadis, CEO of Solegear. “This smartphone case packaging order commitment is a great illustration of how our team works alongside our partners to develop breakthrough bioplastics that meet the real-world needs of top Fortune 500 brands.”
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 hazardous chemicals.
“Our customers rely on us to bring them packaging innovations that deliver on their sustainability objectives without sacrificing performance or aesthetics,” stated Michael Teitelbaum, CEO of r-pac. “Our partnership with Solegear has allowed us to work collaboratively with their development team to ensure this plant-based packaging not only met those requirements, but could be manufactured and shipped just like traditional materials.”
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.
For more information: www.solegear.ca
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.
For more information, please contact: www.r-pac.com
Bioplastic.Inquiry@r-pac.com
On behalf of the Company:
“Paul Antoniadis” Chief Executive Officer and Director
Contact: 604-998-4058
Investor Contact:
Caleb Jeffries
Kin Communications
604-684-6730 / 1-866-684-6730 (Toll-Free)
SGB@kincommunications.com
Media Contact:
Elisha McCallum
FleishmanHillard Vancouver
778-668-0185
Elisha.McCallum@fleishman.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
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 (i) that future orders may not be placed by r-pac International Corp. for case packaging, and (ii) that the quantity of orders placed may not be within the range forecasted.
When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
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Forward-looking information contained in this news release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.
