SOMERSET, New Jersey— July 8, 2020 — Global Fiber Technologies, Inc. wholly owned subsidiary ECOTEK 360, Inc., has signed a collaboration agreement with Fiber Conversion Inc., of Broadalbin, NY., to further the commercial viability of ECOTEK 360’s “rejuvenation technology”.
Chris Giordano, Global’ s Chairman and President stated, “We are now at the point where we feel confident that we can start making commercial grade re-purposed products from what are known as “end of life fabrics” that are headed for a landfill or incinerator. Paul Serbiak our CEO has brought ECOTEK360 to the point where we are getting solid results from the R & D tests that we have run in with our patent pending process.
The collaboration with Fiber Conversion is particularly important because it allows us to see how our process for rejuvenating textile fibers works on a large commercial grade machine in comparison to our pilot line at the facility in Somerset NJ. Fiber Conversion has a large facility inclusive of two commercial grade recycling lines and a full machine shop which will allow us to start testing our commercial viability immediately.”
Paul Serbiak Global’ s CEO stated, “The principals of Fiber Conversion have deep expertise in recycling that spans almost 100 years. After recent discussions both parties found it mutually advantageous to take the relationship to another level. There is more work to be done but our most recent in-house results to date are extremely encouraging. We will now be moving our sample line to their facility so we can bring efficiencies, cost savings and further know how to the process and the goal of potentially developing large-scale commercial scale projects together.
The market for corporate work wear is $8 billion Work Wear Market Analysis and growing quickly. Our goal at ECOTEK 360 is to start a true “circular economy” for landfill destined corporate uniforms and end of life textile products, with our initial focus on the public sector, the hospitality industry and corporate America. The amount of textiles that are landfilled each year is staggering. Textile Waste Per Annum If we can make even a tiny contribution to reverting a small portion of that waste into repurposed products it would have a significant effect on the environment and our company.
We look forward to our collaboration with Fiber Conversion and keeping all of our shareholders updated on our venue with them as well as the headway we are making in our other subsidiaries as they progress.
Posted July 8, 2020
Source: Global Fiber Technologies, Inc.