Progressive Planet Announces Sustainable Fertilizer and Agriculture Operations Expansion
- Secures purchase order increase from Fertoz Ltd. for additional soft rock phosphate production to fill market gap for sustainable fertilizer
- Use of micronized minerals as fertilizer shown to substantially increase carbon sequestration in soil, reduce nitrous oxide emissions and improve overall crop yields
- Completes successful operational integration with recently closed acquisition Absorbent Products Ltd.
Vancouver, BC, March 10, 2022 – Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN”, “Progressive Planet” or the “Company”), an emerging technology provider of innovative circular solutions and eco-friendly micronized minerals for agriculture, construction and industry, is pleased to announce it is leveraging recent R&D activity to expand operations and become a national toll processing provider of micronized minerals in the natural and organic fertilizer industry.
The Company also announces an expanding business relationship with Fertoz Ltd (ASX: FTZ) (“Fertoz”), having received a new Purchase Order for additional comminution services focused on micronizing soft rock phosphate for use as organic fertilizer. All processing and production will be carried out at the recently-acquired Absorbent Products manufacturing facility in Kamloops, BC, which will support the Company’s plans to significantly scale customized toll processing and production work.
“We’ve identified carbon sequestration as a massive opportunity area across the agricultural industry. This is where science and technology come together and help break down, activate and release mineral nutrients and other building blocks essential to all agriculture practices,“ said Ian Grant, VP of Business Development, Progressive Planet. “Micronized mineral toll processing is a key that opens doors to everything from soil restoration to greenhouse gas reduction to reducing dependency on chemical fertilizers.”
When micronized minerals such as soft rock phosphate are applied to farming fields, there’s a correlation between increased yields and plant biomass, organic matter build up and carbon sequestration where carbon is effectively transformed and trapped in soil. Soil is the second biggest carbon sink after the oceans, and is not only considered by many experts to be the most logical place to put excess carbon, but also shows additional benefits such as increased crop yields and soil moisture retention.
Worth an estimated $170B, the global fertilizer industry is currently dominated by synthetic based fertilizers that incorporate nitrogen, phosphorus, potassium and other nutrients. However, the price of chemical-based fertilizers, in addition to herbicides, land, and labor have altered the supply chain. Raw materials and production costs have risen, and when combined with recent geopolitical events and strong demand, fertilizer prices are at an all-time high.
PLAN is working with customers who service the agricultural industry and are targeting end consumers who are looking for chemical free-soil additives and fertilizers that work just as well, or better, than chemical alternatives. Local regulations banning chemical soil additives, along with general health concerns, are also prompting many throughout the agricultural industry to move to natural and organic fertilizers.
“As companies move toward natural alternatives, they are looking for partners that can provide high-quality, low-carbon products while having flexibility to manufacture large quantities of multiple formulations without supply chain constraints,” Grant continued. “Equally important, to be certified as an organic micronized mineral, companies must certify that their comminution process is free of non-organic materials, and that the end product has not been contaminated. PLAN enjoys a unique competitive advantage in these areas, making us a valuable supply chain partner.”
Progressive Planet specializes in custom toll processing services, offering clients a wide variety of precision particle configurations of varying sizes and tailored to their specifications. The Absorbent Product acquisition has brought two complementary companies together, unifying top-notch talent and state-of-the-art equipment and facilities under one shared vision to begin meeting the growing demands of the natural and organic fertilizer industry.
Progressive Planet’s mission is to strengthen industry through sustainable innovation, providing earth-conscious pathways and products that radically decarbonize concrete production and re-mineralize agricultural operations. Our circular solutions and portfolio of micronized minerals represent a new era of environmental science where natural raw materials are introduced to minimize carbon footprints, sequester greenhouse gasses and provide a safer and superior alternative to man-made byproducts.
About Progressive Planet
Progressive Planet is a disruptive tech innovation company providing circular solutions and earth-friendly micronized minerals that naturally unlock sustainability benefits across the construction, agriculture and industrial sectors. Tapping into the earth’s inherent binding powers and properties, PLAN is developing and producing a portfolio of proprietary solutions focused on sequestering CO2 and minimizing carbon footprints to help our customers build, grow and operate more responsibly.
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This news release contains forward-looking information within the meaning of Canadian securities laws. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward looking information is typically identified by such words as “believe,” “expect,” “anticipate,” “intend,” and similar expressions, or are those that, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including but not limited to: the Company’s ability to complete the acquisition as described; the Company’s ability to complete the proposed private placement; the general state of the industry in which the Company operates; the state of financial markets generally; and other risks and factors that the Company is not aware of at this time.