- EarthRenew Inc. (ERTH) signs long term supply agreement for pulverized rock phosphate with Fertoz.
- The five-year signed agreement highlights a target of 10,000 mt per year as the market sees demand for organic and regenerative fertilizers steadily increasing.
- Fertoz will supply the 10,000 mt of rock phosphate from Fernie BC area annually to ERTH.
TORONTO, July 02, 2021 (GLOBE NEWSWIRE) -- EarthRenew Inc. (CSE: ERTH; OTCQB: VVIVF; Frankfurt:WIMN) (“ EarthRenew ” or the “ Company ”), a Canadian company focused on regenerative agriculture solutions today announced a partnership with Fertoz (ASX-listed mining company) to provide pulverized rock phosphate for its regenerative product line. EarthRenew subsidiary, Replenish Nutrient’s Ltd. produces natural fertilizer alternatives to conventional synthetic fertilizers using rock phosphate as a key ingredient.
Fertoz pulverized rock phosphate 0-20-0 will be supplied to Replenish Nutrients Ltd. targeting 10,000 mt per year over a period of five years. 500-1,000 mt will be supplied monthly beginning in July of this year. This partnership will benefit Canadian producers by improving access to granulated rock phosphate and blends throughout Western Canada, provide fertilizer options and blends that are tailored to individual regions and soil types, and enable access to EarthRenew’s other products and services.
Keith Driver, CEO of EarthRenew Inc. stated, “We are pleased to announce this long-term supply relationship with Fertoz for high quality rock phosphate, a cornerstone ingredient in our fleet of regenerative soil health products. Including rock phosphate in our products ensures that soils benefit from a natural source of minerals that are highly plant available and act as a necessary building block in the soil. Our customers have come to depend on our flagship products, Sustain and Rebuilder, to turn back the clock on years of nutritional crop depletion.”
Sean Gatin, Fertoz Sales VP related: “It has long been Fertoz’s strategy to open and use Canadian mines to supply Canada and focus on Montana and Mexico mines for the US market. These volumes will allow opening and long term mining of our leases in the Fernie area.”
Fertoz operations consist of mining sedimentary soft rock phosphate by excavating selective seams. Fertoz products are sustainable, natural and approved for use in organic production systems throughout North America, adhering to the strictest quality guidelines. The company’s quality control procedures ensure that every lot adheres to label requirements and low heavy metal thresholds. Fertoz phosphates products are created using less than 15% of the CO2 emissions of typical synthetic phosphate fertilizer operations.
EarthRenew’s mission is to support a farm system that puts healthy soils and grower profitability back on the table. Using circular economic principles of upcycling waste products into high value agronomic inputs, EarthRenew is building an innovative platform of soil health products. EarthRenew offers growers natural fertilizer alternatives that enhance the soil’s ability to restore itself while growing healthy plants. The regenerative product line is branded under the label Replenish Nutrients Ltd. and is targeted at conventional and organic growers who are seeking solutions to address soil health needs. EarthRenew benefits from multiple revenue streams including, primarily, the sale of regenerative fertilizers, but also enjoys secondary revenue from generating power and selling surplus electricity.
For additional information, please contact:
CEO of EarthRenew
+1 (403) 860-8623
Cautionary Note Regarding Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the Company’s ability to execute its business plan, including its objectives to scale and build a regenerative fertilizer business. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; regulatory risks; and other risks of the energy and fertilizer industries. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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