More good news from management as the rollout of revenue producing projects continue
" ("PLAN" or the "Company"), wishes to congratulate ZS2 Technologies on its milestone strategic partnership (the "Partnership") with Baymag Canada to accelerate commercialization of leading-edge sustainable construction materials. The highlight of the news is listed below.
Progressive Planet Solutions (CNW Group/Progressive Planet Solutions)
Baymag Inc., North America's leading producer of Magnesium Oxide, and ZS2 Technologies Ltd., a rapidly growing Alberta based developer of innovative building technologies, are pleased to announce a strategic partnership to accelerate the development of high-performance construction material technologies which are safer, healthier, and sustainable.
Through this partnership, both companies will reduce environmental impacts at the Baymag mine and in their respective operations. This partnership includes raw material supply, joint research and development activities, and market initiatives for new products in the building material
On July 15, 2021, PLAN announced an LOI that included a supply agreement with ZS2 of up to 10,000 tons annually of Z1 Natural Pozzolan from PLAN's Z1 Natural Pozzolan Quarry. The LOI also highlights the Company agreed to invest up to $300,000 in units of a private placement in ZS2, which has since been approved by the TSX Venture Exchange. Finally, the agreement included combining applied research efforts between PLAN and ZS2 to permanently sequester CO2 in magnesium-based cements.
ZS2 is a leading-edge technology company focused on the development and commercialization of sustainable construction materials which are safer, stronger, and healthier for residential, commercial, and institutional clients. ZS2's proprietary TechPanels™, TechBoard™, TechClad™, and TechSpray™ are based on low carbon proprietary magnesium cement formulations. Headquartered in Calgary, Alberta, ZS2 is a leading player in the growing low carbon technology economy in Western Canada.
Baymag Inc. is North America's leading producer of Magnesium Oxide and Canada's sole producer with state-of-the art processing facilities in Exshaw, Alberta, mine site near Radium, B.C. and corporate head office in Calgary, Alberta. This strategic partnership coincides with the recently completed multi-million-dollar expansion of Baymag's world class processing facility and strategic investment in the Alberta economy.
Since signing the July 15 agreement with ZS2, PLAN has developed a process to deliver CO2 into magnesium cement and ZS2 has developed a proprietary recipe which includes materials supplied by PLAN along with materials supplied by Baymag.
"We are proud to be a strategic partner with ZS2 and a significant supplier of low carbon materials for their made-in-Canada solutions for lowering carbon footprints of the building industry," states Stephen Harpur, PLAN's CEO. "Low carbon building technologies are a vital part of reducing global carbon emissions. We are delighted that ZS2 has created this exciting partnership with Baymag to accelerate the efforts of ZS2 to reduce the carbon footprint of the global building industry"
Scott Jenkins, CEO of ZS2 Technologies, commenting on the rapidly growing ecosystem of leading-edge companies focused on sustainable building companies, "Our recently announced partnership with the world's largest non state-owned magnesium producer is a perfect compliment to our previously announced partnership with Progressive Planet Solutions and further demonstrates the growing group of innovators in the low carbon material space coming together. The economic opportunity from true low carbon, high performance building materials is a generational opportunity to improve our planet."
ABOUT PROGRESSIVE PLANET
Progressive Planet is an emerging leader in supplying solutions for a livable planet by developing low carbon, pozzolan-based, cementing products which replace equivalent amounts of Portland Cement and fly ash in concrete. The production of Portland Cement is the second largest global generator of CO2 emissions.
Progressive Planet operates its flagship Z1 Natural Pozzolan Quarry in Cache Creek, British Columbia and is earning a 100% interest in the Z2 Natural Pozzolan Property near Falkland, BC and earning a 100% interest in the Heffley Creek Metals and Natural Pozzolan Property. All three properties are within a one-hour drive of Kamloops, BC, an industrial hub with rail access to Canadian and US markets."
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