Applied DNA Sciences expands long-term CertainT agreement with Loftex Home
Applied DNA Sciences signed a new multi-year, exclusive license agreement with Loftex Home, a 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 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.