Applied DNA Expands Long-Term CertainT™ Agreement with Loftex Home for Towels
July 18 2017 - 5:30AM
Business Wire
First CertainT Recycled PET Towels to Arrive on
U.S. Retail Shelves by Fourth Quarter of 2017
Applied DNA Sciences, Inc. (“Applied DNA,” “the Company,”
NASDAQ: APDN), has signed a new multi-year, exclusive license
agreement with Loftex Home, LLC, a well respected manufacturer of
high-quality towels and home textiles. Under a prior agreement
announced in March 2017, Applied DNA provides CertainT™ 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
CertainT 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 CertainT 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 Fibers
with CertainT collection announced in March exceeded our
expectations, which is why we are expanding our use of recycled PET
verified by the CertainT platform.”
CertainT 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 fiber 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 fiber, thus ensuring the
recycled nature and origin of the fiber. Loftex will use recycled
PET verified by CertainT 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.
“This new exclusive collaboration enables Loftex to provide an
added level of trust to its customers,” said Dr. James Hayward,
president and CEO of Applied DNA. “The ability to differentiate its
brand in a competitive marketplace reinforces Loftex’ leadership as
a transparent and responsible brand. As a licensee, Loftex also
highlights the growing awareness and adoption of our CertainT
program, which integrates our commercial platforms into a
licensable strategy, with a public-facing trademark that stands for
authenticity and performance.”
About Loftex Home
Loftex has established a global reputation for leadership in
innovation, fashion, quality, sustainability and value as
a supplier of bath towels, beach towels and plush throws. Founded
in 1980, this privately held firm started as a beach towel factory
and has steadily expanded in the international marketplace; Loftex
is now one of the largest terry towel producers in the world.
Product innovation is key to the company’s success. Loftex focuses
on mid- to upper-end channels of distribution, offering excellent
service and the finest quality products at competitive prices to
major U.S. retail customers. The company develops products
specifically to serve the needs of its major markets, all with the
goal of engaging the ultimate consumer through touch, loft and
overall tactile and visual appeal.
About Applied DNA Sciences
Applied DNA is a provider of molecular technologies that enable
supply chain security, anti-counterfeiting and anti-theft
technology, product genotyping and DNA mass production for
diagnostics and therapeutics.
We make life real and safe by providing innovative,
molecular-based technology solutions and services that can help
protect products, brands, entire supply chains, and intellectual
property of companies, governments and consumers from theft,
counterfeiting, fraud and diversion. The proprietary DNA-based
“CertainT™” platform can be used to identify, tag, test, and track
products, to help assure authenticity, origin, traceability,
sustainability and quality of products. SigNature® DNA
describes the core technology ingredient that is at the heart of a
family of uncopyable, security and authentication solutions such as
SigNature® T and fiberTyping®, targeted toward textiles and
apparel, BackTrac™ and DNAnet®, for anti-theft and loss prevention,
and digitalDNA®, providing powerful track-and-trace. All provide a
forensic chain of evidence, and can be used to prosecute
perpetrators. Applied DNA Sciences is also engaged in the
large-scale production of specific DNA sequences using the
polymerase chain reaction.
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The statements made by APDN in this press release may be
“forward-looking” in nature within the meaning of the Private
Securities Litigation Act of 1995. Forward-looking statements
describe APDN’s future plans, projections, strategies and
expectations, and are based on assumptions and involve a number of
risks and uncertainties, many of which are beyond the control of
APDN. Actual results could differ materially from those projected
due to our short operating history, limited financial resources,
limited market acceptance, market competition and various other
factors detailed from time to time in APDN’s SEC reports and
filings, including our Annual Report on Form 10-K filed on December
6, 2016, and our subsequent quarterly reports on Form 10-Q filed on
February 9, 2017, and May 11, 2017 which are available at
www.sec.gov. APDN undertakes no obligation to update publicly any
forward-looking statements to reflect new information, events or
circumstances after the date hereof to reflect the occurrence of
unanticipated events, unless otherwise required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20170718005110/en/
Investors:LHA Investor RelationsSanjay M. Hurry,
212-838-3777orMedia:CGPRAngie Mathews,
714-768-1140orProgram:MeiLin Wan, 631-240-8849VP Textile
SalesorWeb: www.adnas.comTwitter: @APDN
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