Mr. Cristiano Veloso reports

VERDE'S PRODUCTS REMOVE CARBON DIOXIDE FROM AIR IN MERE MONTHS OF APPLICATION

Verde Agritech Ltd.'s K Forte and Super Greensand products undergo mineral dissolution in only a matter of months to a year from its application to soils, faster than the most rapid reacting silicate minerals (forsterite), which takes years to decades for a similar dissolution. Mineral dissolution is directly correlated to the capture of carbon dioxide (CO2) from the atmosphere -- the faster the dissolution, the faster the absorption of CO2. The conclusion was reached by a commissioned study conducted by Phil Renforth, PhD, at Heriot Watt University, based on peer-reviewed publication and commercial data.

Speed of enhanced rock weathering

Enhanced rock weathering (ERW) refers to a suite of techniques aimed at accelerating natural rock weathering, which involves the breakdown of minerals and the absorption of CO2 from the atmosphere. In nature, the process takes centuries as the rocks' surface is gradually weathered down and reacts with CO2 to form new stable carbonate minerals or bicarbonate ions, effectively removing CO2 from the atmosphere and storing it for thousands of years.

By crushing and grinding such minerals and spreading it over large areas, ERW significantly accelerates the absorption of CO2. The speed of mineral weathering can be calculated using a shrinking core model, which assumes that the reaction occurs at the surface of the mineral so that the unreacted core gradually shrinks over time.

To calculate the products' speed of weathering, Verde engaged Dr. Renforth, who leads the carbon dioxide removal research group Heriot Watt University's Research Centre for Carbon Solutions. Dr. Renforth is a widely respected specialist in enhanced weathering. He is co-chief editor for Frontiers in Climate: Negative Emission Technologies, the world's first dedicated publication in this space. Dr. Renforth was a contributing author to Chapter 12 of the working group III's sixth assessment report from the IPCC (Intergovernmental Panel on Climate Change), and he is also one of 12 judges for the Carbon Removal XPrize, the largest incentive prize in history. Dr. Renforth has extensive research and publications on enhanced weathering, negative emission technologies and alkaline waste.

Dr. Renforth applied the shrinking core model to Verde's products to calculate the speed of its dissolution. The shrinking core model considers various factors that influence weathering, such as particle size and surface area of the minerals, temperature, and the rate of mass transfer. By incorporating these parameters into the model, it is possible to estimate the rate at which minerals within Verde's products dissolve through enhanced weathering. Relating mineral dissolution to carbon dioxide uptake is a challenge for enhanced weathering projects that are implementing a range of strategies from modelling to gathering empirical evidence. A shrinking core model does not simulate complex environmental chemistry but is the first step in understanding the relationship between mineral weathering and CO2 uptake.

The model results projected two scenarios, reflecting different external factors such as temperature and soil pH, resulting in both a fast and a slow dissolution. The results of the modelling on Verde's products suggest that under the fast reaction scenario its dissolution will reach competition on the order of several months and for the slow reaction scenario its dissolution will reach competition in slightly over one year. When applied to olivine, a mineral commonly considered for ERW, the fast scenario took years and the slow scenario spanned decades to reach competition.

Dr. Renforth commented: "To meet their Paris climate targets, governments need scale up methods to curb greenhouse emissions and develop those that remove of atmospheric carbon dioxide; ERW may be a scalable and relatively low-cost tool in this process. Verde Agritech overcomes two of the major obstacles for ERW at scale: first, consistent production of fine-milled material and, secondly, uses a mineral that can rapidly dissolve."

Globally, there are several different ERW initiatives, though none stemming originally from a plant-nutrition focus such as Verde's. These include: Carbfix, from Iceland, which utilizes industrial processes to lock CO2 into basaltic rocks; Project Vesta, which spreads olivine-rich minerals on beaches and coastal environments to facilitate carbon sequestration; and UNDO, in the United Kingdom, that uses crushed basalt applied to farmland.

"While we salute all ERW initiatives, we need to move with all deliberate speed to help mitigate the buildup of greenhouse gases in our atmosphere. In a matter of months, Verde's products capture one tonne of CO2 for every 8.3 tonnes applied to fields, and may be significantly faster than any other major ERW project globally. Verde's products have a distinguished role to play, a role which is already in progress and will only grow as we increase our output," commented Cristiano Veloso, Verde's founder and chief executive officer.

About Verde Agritech Ltd.

Verde is an agricultural technology company that produces potash fertilizers. The company's purpose is to improve the health of all people and the planet. Rooting its solutions in nature, Verde makes agriculture healthier, more productive and profitable.

Verde is a fully integrated company; it mines and processes its main feedstock from its 100-per-cent-owned mineral properties and then sells and distributes the product.

Verde's focus on research and development has resulted in one patent and eight patents pending. Among its proprietary technologies are Cambridge Tech, 3D Alliance, MicroS Technology, N Keeper and Bio Revolution. Currently, the company is fully licensed to produce up to 2.8 million tonnes per year of its multinutrient potassium fertilizers K Forte and BAKS, sold internationally as Super Greensand. In 2022, it became Brazil's largest potash producer by capacity. Verde has a combined measured and indicated mineral resource of 1.47 billion tonnes at 9.28 per cent K2O (potassium oxide) and an inferred mineral resource of 1.85 billion tonnes at 8.60 per cent K2O (using a cut-off grade of 7.5 per cent K2O). This amounts to 295.7 million tonnes of potash in K2O. For context, in 2021, Brazil's total consumption of potash in K2O was 6.57 million tonnes.

Brazil ranks second in global potash demand and is its single largest importer, currently depending on external sources for over 97 per cent of its potash needs. In 2022, potash accounted for approximately 3 per cent of all Brazilian imports by dollar value.

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