Progressive Planet Solutions Inc (TSX-V:PLAN) announced that it would like to extend its congratulations to strategic partner and investee company ZS2 Technologies for being awarded a $2.6 million grant from Sustainable Development and Technology Canada (SDTC) to develop direct air capture technology.
Progressive Planet, which provides circular solutions using micronized minerals for the cement and agricultural sectors, said ZS2's ground-breaking work involves permanently removing CO2 from the atmosphere and incorporating it into high-performance cement building materials.
“Our value proposition when we purchased the Kamloops-based business with a 30-year track record was to leverage the acquired business's in-house manufacturing capabilities, established product line, revenues, and distribution network that would accelerate the expansion of our proprietary technologies in the cement and chemical fertilizer replacement sectors,” Progressive Planet Solutions CEO Steve Harpur said in a statement.
READ: Progressive Planet Solutions inks multiple deals to develop eco-friendly regenerative fertilizers
“While we focus on growing the legacy business, we will continue to develop new markets for mineral powders as we focus on growing our legacy business,” Harpur added.
Progressive Planet noted it had previously announced a supply agreement with ZS2 to provide 24 tonnes of PozGlass SCM and PozZeo SCM to ZS2 over a 12-month period, with an expected monthly supply of roughly two tonnes.
The company added, however, that it has now received a purchase order and will be shipping a full truck of PozZeo, totalling 26 tonnes, to ZS2's new pilot plant in Calgary this week.
Progressive Planet is a manufacturing and innovation company engaged in the research, design, development, manufacture, integration, and sustainment of advanced absorbents, regenerative fertilizers, other farm products, and eco-friendly cement products.
Contact Sean at sean@proactiveinvestors.com