Jun 16 2010
The shareholders of Imagin Molecular Corporation (IMGM) by consent of over 51% of the shareholders have approved a name change of the company to “The Planet Bottle Corporation” (PBC).
The new name was chosen because it is expected that the fastest growing segments of the newly revitalized company are environmental projects especially the oxo-biodegradable PET plastic bottle of The Planet Green Bottle Corporation (PGBC). PGBC announced separately an exclusive agreement with Wells Plastics Ltd. of the UK wherein PGBC has introduced a proprietary, patent pending masterbatch additive which will cause the ordinary PET (polyethylene terephthalate) plastic bottle to oxo-biodegrade in 10 to 20 years versus estimates of up to 1,000 years for untreated, non-degradable PET plastic bottle. PGBC, a 51% owned subsidiary to the Planet Bottle Corporation received the registered trademark “The Planet Bottle”.
Patrick J. Rooney, Director of Corporate Development for PGBC stated, “The Planet Bottle Corporation is in the business of developing and exploiting certain proprietary technologies which, if successful, could have a profound effect on the production and distribution of the multi-billions of PET (polyethylene terephthalate) plastic bottles that are discarded annually. Only 27% of plastic bottles are recycled with 73% going elsewhere. Planet Bottle has combined two concepts and created a singular solution unique to only Planet Bottle. R-PET describes PET plastic recycled and converted to many non-bottle products, such as t-shirts and carpets as well as recycled bottle to bottle production of a new PET plastic bottle. Until only recently R-PET for bottle to bottle recycling was too scarce and too expensive to be part of a solution. Planet Bottle has incorporated its proprietary REVERTE additive into the production process of R-PET to create the world’s first “oxo-biodegradable R-PET plastic bottle”. It’s easy to sell a R-PET solution, after all COKE, Pepsi and Nestle have all endorsed the R-PET solution. REVERTE merely adds an “insurance policy” to the bottle to deal with the 73% of plastic bottles that are not recycled globally. Our plastic bottles will oxo-biodegrade in microbial environments. Microbes exist in almost all of the environments where bottles are discarded.
Planet Bottle continues to introduce brand owners of beverage companies to its proprietary additive, Reverte™, as developed by Wells Plastics of the UK. The early adopters are incorporating Reverte in order to facilitate accelerated degradation of plastic. A new concept is being introduced by brand owners to display the Planet Bottle logo which sends the message in the bottle which denotes “This bottle is made from recycled plastic bottles and we recommend that you recycle it again. If the bottle gets inadvertently diverted to landfill or a ditch, it will oxo-biodegrade. The Planet Bottle believes it has an important solution to save the planet from plastic bottle pollution”.