Global Fiber Technologies, Inc and Regent Apparel, Inc. Enter into A Collaboration Agreement to Utilize Technology and Trade Secrets Established by ECOTEK360
September 24, 2019 at 02:00 am IST
Share
On September 10, 2019 Global Fiber Technologies, Inc. and Regent Apparel, Inc. entered into a Collaboration Agreement to utilize technology and trade secrets established by ECOTEK360 a division of Global to develop of a sustainable series of products for their potential sale into the corporate uniform market which Regent serves. Regent Apparel will be responsible for supplying Global Fiber Technologies with 10,000 pounds of “raw material” which will be either 100% polyester or cotton/polyester blended uniforms that will be collected and delivered to Global’s facility where Global will be responsible for the “opening” and rejuvenation of the fibers contained in the uniforms provided while lending its expertise to the subsequent transition back into re-purposed uniforms and other sustainable products. Regent and Global have made representations in the agreement whereby Regent will begin the process of collecting uniforms from its clients immediately and Global has the necessary equipment in place to carry out the exercise to its completion. Both Regent and Global will create a Leadership Committee that will be responsible for the oversight and administration of the program. In addition, during the time that the program is being developed Global and Regent will share its findings with one another to further the venue towards the potential commercial relationship both parties seek.
Authentic Holdings, Inc. comprises two separate operating subsidiaries. The Authentic Heroes, Inc. subsidiary has patented technology that takes the original event-worn apparel from an iconic individual and creates fan-wear collectibles containing fibers from that original. All of the Fan-Wear items have an embedded QR code that registers the items on the blockchain for their provenance and immutability. It is also in the business of creating vinyl records for distribution in retail department stores and online sales. It also has an NFT platform on the Etherium blockchain capable of housing millions of NFTs. The Company's business plan is to operate a fiber rejuvenation technology company. The Company plans on offering branded fabrics, apparel, and uniforms to the corporate, hotel, hospital, and military markets. Its business plan also involves operating as an intermediary, providing an expedited trading platform for buyers and sellers to efficiently consummate fiber transactions.
Global Fiber Technologies, Inc and Regent Apparel, Inc. Enter into A Collaboration Agreement to Utilize Technology and Trade Secrets Established by ECOTEK360