Progressive American Flat Track to promote the lightweight, flexible, and durable packaging solution to the professional racing industry
July 15, 2024 09:00 AM Eastern Daylight Time
ORLANDO, Fla.--(BUSINESS WIRE)--Innventure LLC (“Innventure” or “the Company”), an enterprise growth engine, today announced that AeroFlexx, the sustainable liquid packaging company Innventure launched in 2018, has been named the official innovative packaging solution for Progressive American Flat Track, a premier dirt track motorcycle racing series sanctioned by AMA Pro Racing.
“We applaud AMA Pro Racing and Progressive American Flat Track for recognizing the sustainability and durability benefits of AeroFlexx’s innovative packaging solution,” said Bill Haskell, CEO of Innventure. “We brought this technology to market because we believed it could revolutionize the liquid packaging industry. We’re thrilled that it has been embraced by AMA Pro Racing and look forward to continued adoption by customers seeking a quality packaging solution with a lower total cost of ownership and reduced environmental footprint.”
Core to its commercialization process, Innventure uses operational expertise to take breakthrough technologies sourced from multinational corporations to market. Innventure builds and scales companies around these technologies using a systematic, quantitative, and repeatable analysis.
In its evaluation of the technology, Innventure recognized the significant value the AeroFlexx packaging solution could unlock for multinational corporations, including reduced transportation costs, lower warehouse and inventory requirements, and tamper-proof safety benefits.
Based in West Chester, Ohio, AeroFlexx merges the best attributes of flexible and rigid packaging. The company’s technology has an estimated $400 billion addressable market across several categories, including the industrial, personal care, food, household products, and pet care markets. AeroFlexx intends to expand its global footprint with equipment to be deployed across the U.S., Europe and Asia.
AeroFlexx’s award-winning technology also offers substantial sustainability benefits, requiring up to 85% less virgin plastic versus rigid alternatives, promoting the usage of recycled materials and offering greater durability, all while being fully recyclable where all plastic bottles are accepted.
Since its inception, Innventure has launched three companies: PureCycle Technologies, Inc., AeroFlexx and Accelsius. PureCycle became a publicly traded company in 2021 and Innventure currently owns less than 2% of PureCycle.
About Innventure
Innventure founds, funds, and operates companies with a focus on transformative, sustainable technology solutions acquired or licensed from Multinational Corporations (‘‘MNCs’’). As owner-operators, Innventure takes what it believes to be breakthrough technologies from early evaluation to scaled commercialization utilizing an approach designed to help mitigate risk as it builds disruptive companies it believes have the potential to achieve a target enterprise value of at least $1 billion. Innventure defines ‘‘disruptive’’ as innovations that have the ability to significantly change the way businesses, industries, markets and/or consumers operate.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding Innventure’s and AeroFlexx’s strategies, future business plans and objectives, products and services and expectations relating to the implementation, market acceptance and success of AeroFlexx’s products. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on our current expectations and beliefs made by the management in light of their respective experience and their perception of historical trends, current conditions and expected future developments and their potential effects as well as other factors they believe are appropriate in the circumstances. There can be no assurance that future developments affecting Innventure will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including those discussed and identified in the public filings made or to be made with the SEC by Learn SPAC Holdco, Inc., and the following: expectations regarding Innventure’s strategies and future financial performance, including its future business plans, expansion plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, product and service acceptance, market trends, liquidity, cash flows and uses of cash, capital expenditures, and Innventure’s ability to invest in growth initiatives; the implementation, market acceptance and success of Innventure’s business model and growth strategy; Innventure’s future capital requirements and sources and uses of cash; that Innventure will have sufficient capital upon the approval of the business combination to operate as anticipated; Innventure’s ability to obtain funding for its operations and future growth; developments and projections relating to Innventure’s competitors and industry; the occurrence of any event, change or other circumstances that could give rise to the termination of the business combination agreement (“BCA”); the outcome of any legal proceedings that may be instituted against Learn SPAC Holdco, Inc., Learn CW Investment Corporation (“Learn CW”) or Innventure following announcement of the BCA and the transactions contemplated therein; the inability to complete the business combination due to, among other things, the failure to obtain Learn CW shareholder approval; regulatory approvals; the risk that the announcement and consummation of the proposed business combination disrupts Innventure’s current plans; the ability to recognize the anticipated benefits of the business combination; unexpected costs related to the proposed business combination; the amount of any redemptions by existing holders of Learn CW’s common stock being greater than expected; limited liquidity and trading of Learn CW’s securities; geopolitical risk and changes in applicable laws or regulations; the possibility that Learn CW and/or Innventure may be adversely affected by other economic, business, and/or competitive factors; the potential characterization of Innventure as an investment company subject to the Investment Company Act of 1940; operational risk; and the risk that the consummation of the business combination is substantially delayed or does not occur. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. All forward-looking statements in this press release are made as of the date hereof, based on information available to Innventure as of the date hereof, and Innventure assumes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
No Offer or Solicitation
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release does not constitute either advice or a recommendation regarding any securities. No offering of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act, or an exemption therefrom.
Contacts
Media Contact: Tim Biba, Solebury Strategic Communications
press@innventure.com
Investor Relations Contact: Sloan Bohlen, Solebury Strategic Communications
investorrelations@innventure.com
