Business
Global Fiber Technologies (OTCQB: GFTX) Starts Pilot Program with Corporate Client
Global Fiber Technologies (OTCQB: GFTX) Starts Pilot Program with Corporate Client.
About this update from Authentic Holdings Inc.
[{"type":"text","content":"SOMERSET NJ / ACCESSWIRE / July 30, 2019 / Eco Tek 360, Inc., a Global Fiber Technologies business, begins pilot program to recycle textile waste.Eco Tek 360 has made tremendous progress establishing our supply chain and infrastructure that takes us from fiber to final product. With our supply chain established, our pilot plant set up, and the internal testing of our proprietary process complete we are ready to start taking on small commercial projects.We expect to begin a development program with a major hotel chain that will allow us to demonstrate our first “proof of concept” with a third party.Our patent pending technology is expected to provide a substantial competitive moat around our business for many years to come and allows us the confidence to now start producing products.The company’s core differentiator is our ability to maintain a fiber’s strength and length through our rejuvenation process which allows us to repurpose fibers from each land fill destined item and re-create a high-quality sustainable product that will continue to be re-purposed for several years to come. Another benefit when working with cotton products is the ability to reduce carbon and water footprints for corporate clients.“Each pound of land fill destined cotton waste that we convert into a re-purposed and sustainable product will save an average 500 gallons of water each time it is re-purposed. That means throughout the lifecycle of that original pound of cotton that continues to be rejuvenated it will help save thousands of gallons of water,” stated Paul Serbiak, CEO, Global Fiber Technologies.Chris Giordano, Global’s Co Chairman and President stated, “The amount of water that can be saved is truly awe inspiring. If we were to re-purpose just 50,000 pounds of corporate cotton waste it would help save over 25,000,000 gallons of water compared to what would have been needed to grow and process the 50,000 pounds of cotton."Global Fiber Technologies’ pilot plant has the capacity to produce over 1.6 million pounds of re-purposed product per year which translates into 800,000,000 gallons of potential water savings from one small facility. Our ability to help companies to save water while creating a truly sustainable product is staggering.Safe Harbor ActForward-Looking Statements: This release contains statements that constitute forward-looking ...