Solegear Bioplastics Inc.

Solegear Bioplastics Inc.

March 11, 2015 08:30 ET

Solegear Teams With Ex-Tech Plastics to Increase Market Reach of Traverse TF® in the US

Partnership with Established and Connected Extruder will Introduce Solegear's High-Heat Resistant, Durable Bioplastic to New Consumer Packaging Segments

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 11, 2015) - Solegear Bioplastics and Ex-Tech Plastics, Inc., an Illinois-based plastics extruder, have entered into a commercial partnership to manufacture and distribute Solegear's next-generation Traverse TF® bioplastic. Traverse TF® is best known for its high bio-content in rigid packaging that can resist high heat shipping conditions. Through this agreement, Solegear and Ex-Tech will benefit from shared access to new market intelligence, technology and contacts to capitalize on business opportunities to grow the penetration of Traverse TF®, in the North American market.

"Solegear is very pleased to partner with Ex-Tech, a respected leader in bioplastics sheet extrusion, who have a track record of exceptionally high standards of quality and levels of customer satisfaction," said Toby Reid, CEO of Solegear. "We believe this alliance will allow Solegear's Traverse TF® to reach new audiences who have been waiting to be introduced to our next-generation products, while leveraging Ex-Tech's exceptional reputation, customer base, and ability to scale order fulfillment efficiently."

Solegear's Traverse TF® Bioplastic is designed to replace Polyethylene terephthalate (PET) packaging applications that require both high heat resistance (≥ 55ºC) and high optical clarity. Traverse TF® is composed of up to 45% bio-content and meets international shipping requirements, validated by SGS laboratories. At the end of its life, the material can be recycled, as with conventional petroleum-based plastics.

"Solegear's Traverse TF® high-heat resistant bioplastic is an excellent addition to our offering of durable plastics for rigid packaging use and we are very excited to be able to begin marketing this product to our customers," says William Riesbeck, President of Ex-Tech Plastics Inc. "Traverse® is a great material for those retailers or manufacturers seeking to reduce their carbon footprint while maintaining high levels of performance and reliability in varied conditions."

Ex-Tech has manufactured a multi-ton purchase order on behalf of Solegear's customers, and will begin to jointly market and distribute Traverse TF® starting April 2015.

About Ex-Tech Plastics Inc.

Ex-Tech Plastics, Inc. was founded in Richmond, Illinois in 1983 as an innovator in recycled plastics sheet. Building on that foundation, Ex-Tech was one of the first extruders to successfully produce and market sheet made from sustainable materials. Ex-Tech delivers a diverse array of sheet solutions in PET, bioplastics, olefins and vinyl to domestic and international customers. www.extechplastics.com

About Solegear Bioplastics Inc.

Solegear, based in Vancouver, British Columbia, is an innovator in the field of next-generation plastics. The Company is an advanced materials firm that engineers, produces and distributes high-performance bioplastics (bioplastics are a category of plastics that are bio-based, compostable, or both). Founded in 2006, Solegear has developed, and is commercializing, proprietary bioplastics technologies that utilize annually renewable plant-based ingredients formulated using green chemistry, to address the growing North American market opportunity for rigid consumer packaging and durable plastic goods. www.solegear.ca

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