01:30 PM EST, 03/05/2025 (MT Newswires) -- Progressive Planet Solutions ( ASHXF ) on Wednesday said it will receive up to $4.6 million in funding to support the construction of a pilot plant to produce PozGlass, a low-carbon supplementary cement material (SCM) derived from post-consumer glass.

This funding from Sustainable Development Technology Canada (SDTC) covers a four-year period, with the first tranche of $1.55 million in place on Jan. 31.

On June 29, 2023, Progressive Planet signed a purchase agreement with Lafarge Canada agreeing to purchase all the PozGlass 100G produced by Progressive Planet's pilot plant up to a maximum of 3,500 metric tonnes per year.

"PozGlass is our solution to reducing the carbon footprint of cement production," said chief executive Steve Harpur. "This funding allows us to innovate, reduce emissions, and create value from post-consumer glass, a material that has been historically misallocated and considered waste."

The company's shares were last seen up $0.01 to $0.16 on the TSX Venture Exchange.

Price: 0.16, Change: +0.01, Percent Change: +6.90