Progressive Planet Solutions Inc (TSX-V:PLAN) has secured funding from Next Generation Manufacturing Canada (NGen) for the construction of its PozGlass 100G pilot plant.
The $370,000 funding from NGen, alongside support from the Minister of Innovation, Science, and Economic Development, marks the inaugural confirmed funding for the PozGlass pilot plant, earmarked for finalizing plant design.
Progressive Planet said the financial backing is part of a broader commitment of $2.76 million bestowed upon the company, in collaboration with ZS2 Technologies Ltd., LithiumBank Resources Corp (TSX-V:LBNK), Occam's Technologies Inc., and Falkbuilt Ltd., under NGen's Advanced Manufacturing Projects program.
This initiative aims to mitigate risks, drive commercialization, and scale-up innovative manufacturing capabilities within Canada.
Collectively, the consortium is aiming to pioneer an advanced manufacturing solution for the construction sector. Its solution targets the urgent global demand for cost-effective, climate-resilient, energy-efficient, and eco-friendly housing options, achieved through carbon capture and storage into magnesium cement board, and repurposing waste streams.
Progressive Planet will contribute materials like zeolite from its quarries and a supply of ground glass and paper waste from the PozGlass pilot plant.
Crafted from 100% post-consumer glass, PozGlass represents a scalable cement substitute, offering additional environmental merits through carbon sequestration and storage. While a production stream will cater to magnesium cement boards by ZS2, PozGlass from the pilot plant will be procured by Lafarge Canada Inc., the nation's largest cement producer, under a confirmed purchase agreement. Post-consumer glass supply for the pilot plant will be facilitated by Recycle BC.
The Honourable François-Philippe Champagne, Minister of Innovation, Science, and Industry, remarked: "Our government is working hard to ensure that Canadians have access to a safe and affordable place to call home. Innovative projects like this, that create sustainable, affordable and durable building materials, take us one step closer to achieving that goal. We will continue to be there to make life more affordable for Canadians, like on housing."
"We are excited to work with NGen and for the financial support provided by the Minister of Innovation, Science, and Economic Development towards our PozGlass pilot plant. The pilot plant will be a major milestone for Progressive Planet and our innovative technology as we continue to work with government and stakeholders to make it a reality," stated Progressive Planet CEO Steve Harpur.
Progressive Planet aims to fund building and equipment costs through non-dilutive financing, with several funding applications currently pending.