Applied DNA tie-up with Loftex
Applied DNA Sciences, Inc has signed a new multi-year, exclusive license agreement with Loftex Home, LLC, a well respected manufacturer of high-quality towels and home textiles, whose headquarters is in China.
Applied DNA Sciences, Inc has signed a new multi-year, exclusive license agreement with Loftex Home, LLC, a well respected manufacturer of high-quality towels and home textiles, whose headquarters is in China. Under a prior agreement announced in March 2017, Applied DNA provides CertainTâ„¢ platform services to Loftex to verify the authenticity and origin of recycled polyethylene terephthalate (rPET post-consumer) used in bath and beach towels. The first products using recycled PET verified with the CertainTâ„¢ platform are expected at retail by the fourth quarter of 2017. The new multi-year agreement between the two companies is now exclusive for bath and beach towels in the United States, non-exclusive for plush throws and bath rugs, and provides for long term guaranteed minimum annual revenues as well as trademark licensing royalties to Applied DNA.
"Retailers, brands and consumers want to know where their products come from and where they are going," said Charles Gaenslen, CEO of Loftex Home. "Sustainability product claims are central to our recycled PET programs and CertainTâ„¢ verifies our claims throughout the supply chain. Our initial agreement with Applied DNA evolved to be a long-term exclusive collaboration addressing the need for transparency in supply chains. The response from retailers based on our initial launch of our Fusion fibres with CertainTâ„¢ collection announced in March exceeded our expectations, which is why we are expanding our use of recycled PET verified by the CertainTâ„¢ platform."
CertainTâ„¢ provides a single platform to tag, test, track and trace products throughout a certified supply chain. Applied DNA’s molecular tag is extruded into the recycled components that create recycled PET fibre with no impact to performance or quality of the blended staple or filament PET yarns. Thereafter, any piece of the CertainT-tagged towels may be authenticated by detecting the molecular tag present in the recycled PET fibre, thus ensuring the recycled nature and origin of the fibre. Loftex will use recycled PET verified by CertainTâ„¢ to create recycled PET and cotton blended towels. The benefits of a blended recycled PET and cotton towels include less drying time and less water usage during washing, making for a more sustainable and time-saving end product.