Somerset NJ, Jan. 09, 2020 (GLOBE NEWSWIRE) — Somerset, NJ., January 9th, 2020. In a release dated September 24th, 2019, Global Fiber Technologies’ (OTCQB: GFTX ) EcoTek 360, Inc. subsidiary stated that and Regent Apparel had signed a “Development Agreement” to advance the creation of a sustainable line of corporate uniforms
“Global Fiber Technologies and Regent Apparel are have now begun that process to bring true sustainability to both the uniform apparel and napery segments of the textile industry. Recently, EcoTek 360 took delivery of the collective uniforms of several Regent clients. We are now in the process of helping Regent rejuvenate them back into new corporate uniforms for sale to their customers.
With growing attention to the need for sustainable solutions in the broader textile market, EcoTek 360 has developed the way to resolve the problems of textile landfill waste with its proprietary mechanical and eco-friendly process for the corporate uniform market.
Regent Apparel is a great partner for us to develop this venue with. They are a highly respected 100-year-old uniform manufacturer very much aligned with us on creating a true 360-degree circular economy for their products. They are forward thinking and driven to create a solution with us to solve the problem of disposing “end of life” uniforms into landfills.
Utilizing the strengths of each company we will tailor a sustainability solution that meets the needs in the hospitality industry; stated Paul Serbiak, CEO of Global “
Chris Giordano Global’ s President and Chairman stated, “Both companies the same common goal. To keep textile-waste out of the landfills and incinerators.
Our development program with Regent Apparel will run a handful of months. Once the program has been completed, we can then look at the commercial viability and a potential long-range program with Regent.
The Regent opportunity will validate our years of R & D in the sustainability arena and allow us to have a first mover advantage.
With our pending patents it would not only garner credibility for the truly disruptive nature of our technology, but also create an effective moat around our business model. This could lead to exponential and unchallenged growth in the $15 Billion dollar market for corporate uniforms in North America.
Eco-Friendly is a word used very loosely today. We take that claim very seriously here. We are truly disruptive in the world of recycling since our process not only re-purposes old uniforms into new uniforms but even takes the eventual waste stream from the uniform rejuvenation process and creates truly saleable products such as placemats, napkins and totes.
Everything that comes thru our doors will be re-purposed and will never see a landfill or incinerator.
We look forward to working with Regent Apparel and their team of creative and innovative thinkers as we move down the path of commercialization with them.
About ECOTEK 360, INC
Headquartered in Somerset, New Jersey, Global Fiber Technologies, Inc. is a public traded fiber technology company founded in 2016 and headquartered in New Jersey. We are dedicated to helping the world by utilizing our portfolio of technologies to create a cleaner, greener and more efficient world for the textile industry. For more information, visit https://globalfibertechnologies.com/ecotek-360/ or contact Paul Serbiak CEO at [email protected]
About Regent Apparel, Inc.
Regent Apparel was established in San Francisco in 1921 and has been supplying durable, quality uniforms made from American made fabrics ever since. For more information visit www.regentapparel.com or contact Alexis Miller Lettis at [email protected]
Safe Harbor Act
Forward-Looking Statements: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Global Fiber Technologies, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements including those relating to the Company’s financing being adequate for the Company to place its products in retail stores, execute its acquisition strategy, and to launch its growth and expansion plans, among others, are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Global Fiber Technologies, Inc.’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. No information in this press release should be construed in any way whatsoever as an indication of Global Fiber Technologies Inc.’s future revenues, financial performance or stock price. More information about the potential factors that could affect the business and financial results is and will be included in Global Fiber Technologies, Inc., filings with the Securities and Exchange Commission at www.sec.gov.
