MOU lays the groundwork for potential
commercial implementation
Applied DNA Sciences, Inc. (NASDAQ: APDN) (“Applied DNA”), a
leader in large-scale PCR-based DNA manufacturing and
authentication, announced today that it has signed a non-binding
memorandum of understanding (the “MOU”) with Reliance Industries
Ltd. (“RIL”) to develop and commercialize apparel made from RIL’s
R|Elan GreenGold® fabric and Recron GreenGold® recycled polyester
fiber and filament powered by CertainT. The collaboration as set
forth in the MOU, provides for potentially extending apparel
manufacturing using R|Elan GreenGold®, and the use of recycled
polyester through Recron GreenGold into consumer and industrial
applications in the global markets. Applied DNA has already
demonstrated with its supply chain partners, full end-to-end
traceability by tagging over 20 million lbs of recycled polyester,
testing of hundreds of samples, and tracking of forensically
authenticated products from fiber to finished goods. Commercial
products are sold in over 4,000 US retail stores, with expansion
into international markets before the end of 2019.
Prior to the signing of the MOU, Applied DNA and RIL had tagged
recycled polyester at RIL’s facilities in India in successful
proof-of-concept studies. Under the MOU, samples will be tested
both on-site and at Applied DNA’s laboratory in Ahmedabad. The
groundwork for commercial scale-up for DNA production for
manufacture of CertainT tagged staple fiber and filament yarn is
underway. Joint marketing will support sales and business
development in US and European markets.
“At Reliance, we believe that sustainability with traceability
is a must and not a maybe. We aim to be an industry leader in
sustainability for recycled polyester, and that is why we believe
CertainT is the best solution,” stated Hemant Sharma, Head
Polyester Business, RIL.
As there is much uncertainty related to the use of post-consumer
recycled polyester to make sustainability product claims, brands
and retailers can be confident that their products marketed and
sold as 100% recycled are proven with forensic assurance and
authentication.
“Our R|Elan brand is growing in apparel and it is used by brands
such as Arrow, Lee, Wrangler, Raymond, Anita Dongre, Kappa and many
more. These brands now have the option to add CertainT forensic
traceability to assure that their products are sustainable,
traceable and authentic,” stated Gunjan Sharma, Chief Marketing
Officer – Polyester Business, RIL.
"Eco-friendly," "natural," "green," and "organic" are typical
sustainable claims and labels that can be confusing and misleading
to consumers. Whilst more companies and key opinion leaders are
espousing to be "green" through advertising and marketing, how do
we know for sure that they are actually implementing business
practices that minimize environmental impact?
“Without Applied DNA’s proprietary molecular tagging system, the
uncertainty, and risk is too high and the burden of proof is much
harder for brands and retailers. So we are very excited to bring a
solution that we believe can truly make a difference for the
planet, the people and our processes,” added Gunjan Sharma.
RIL’s Recron GreenGold fiber is made from 100% used PET bottles.
It has one of the lowest fiber carbon footprints globally.
Sustainable feedstock developments include modern in-house
manufacturing for recycling waste PET bottles into sustainable
fashion solutions. Eco-friendly manufacturing to ensure maximum
water is recycled (up to 90%) and all water re-used in
manufacturing and horticulture. Reliance operates a
state-of-the-art water effluent treatment process system consistent
with their zero waste concept that all material is either used in
process or sold in market.
“Reliance is a key partner for us because you can trust that the
post-consumer recycled polyester process is meticulously managed
from bottle to fiber, and that scalability is done in a fully
controlled environment. Secure chain of custody is a true value
addition to the supply chain, and CertainT tagged recycled
polyester provides an indelible stamp of approval that many brands
and manufacturers need,” stated Dr. James A. Hayward, President and
CEO, Applied DNA Sciences.
About Reliance Industries Limited
Reliance Industries Limited (RIL) is India’s largest private
sector company, with a consolidated turnover of INR 622,809 crore
($90.1 billion), cash profit of INR 64,478 crore ($ 9.3 billion),
and net profit of INR 39,588 crore ($5.7 billion) for the year
ended March 31, 2019. RIL’s activities span hydrocarbon exploration
and production, petroleum refining and marketing, petrochemicals,
retail and digital services.
RIL is the top most ranked company from India to feature in
Fortune’s Global 500 list of ‘World’s Largest Corporations’ –
currently ranking 106th in terms of both revenues and profits. The
company stands 71st in the ‘Forbes Global 2000’ rankings for 2019 –
top-most among Indian companies. It ranks 10th among LinkedIn’s
‘The Best Companies to Work For In India’ (2019).
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 pre-clinical nucleic acid-based
therapeutic drug candidates.
Applied DNA makes 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.
Visit adnas.com for more information. Follow us on Twitter and
LinkedIn. Join our mailing list.
Common stock listed on NASDAQ under the symbol APDN, and
warrants are listed under the symbol APDNW.
Forward-Looking Statements
The statements made by Applied DNA in this press release may be
“forward-looking” in nature within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934 and the Private Securities Litigation Reform Act of
1995. Forward-looking statements describe Applied DNA’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 Applied DNA. Actual results
could differ materially from those projected due to substantial
doubt relating to Applied DNA’s ability to continue as a going
concern, the possibility of failure to make timely payment on its
outstanding secured convertible notes and resulting enforcement by
noteholders of remedies on collateral which includes substantially
all of Applied DNA’s assets, its history of net losses, limited
financial resources, limited market acceptance, its ability to
penetrate key markets, including its ability to successfully enter
into commercial contracts for the implementation of its CertainT®
platform and various other factors detailed from time to time in
Applied DNA’s SEC reports and filings, including our Annual Report
on Form 10-K filed on December 18, 2018, as amended, our subsequent
quarterly reports on Form 10-Q filed on February 7, 2019, May 9,
2019 and August 13, 2019, and other reports we file with the SEC,
which are available at www.sec.gov. Applied DNA undertakes no
obligation to update publicly any forward-looking statements to
reflect new information, events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events, unless
otherwise required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20191210005139/en/
Investor contact: Sanjay M. Hurry, LHA Investor
Relations, 212-838-3777, shurry@lhai.com Program contact:
MeiLin Wan, Applied DNA Sciences, 631-240-8800,
textilesales@adnas.com Tushar Pania, Reliance Industries, +91 22
35557918; +91 9820088536 Web: www.adnas.com Twitter:
@APDN
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