TORONTO, June 2 /CNW/ - Forterra Environmental Corp. (TSXV: FTE), a manufacturer, marketer, and seller of premium organic soil-enrichment products based on worm castings, today announced that the University of Guelph has granted the company an exclusive license to market certain soil blends scientifically developed by the university's researchers.
Forterra has been a contributor to the development of the blends that are the result of a three-year research and development project. Under the five-year license, which has a roll-over provision for renewals, Forterra will pay a sales royalty to the university.
"The development of these high-end soil blends is great news, particularly for greenhouse organic vegetable growers as well as for home gardeners who can use these blends to improve their growing success for vegetables and other plants," reported Youbin Zheng, Ph.D. and a researcher and adjunct professor at the School of Environmental Sciences at the university. "In particular, the development of these new soil blends meets the needs of greenhouse growers who are challenged to obtain consistently high-quality organic growing substrates.
"At the University of Guelph," Dr. Zheng continued, "we mixed and tested 35 organic growing substrates. Two of the growing substrates produced higher marketable beef steak tomatoes than the other organic growing substrates and rockwool. Both of the successful substrates used Forterra worm castings. Such vermicastings are proven to contain beneficial microbes that can suppress some plant pathogens and therefore reduce the need for pesticide application."
Forterra plans to sublicense its agreement with the University of Guelph to a third party that has an established significant penetration into the greenhouse and nursery sectors. The company has received inquiries from various potential partners who are well-entrenched in these sectors and who are well-suited to manufacture the scientific recipe for sales into the market.
The development of the new soil blends is the most recent result of the excellent relationship that Forterra has had for several years with the University of Guelph agricultural research experts. Forterra has provided funding for research, testing, and validation projects, and currently is discussing future projects that would involve further scientific investigation into soil mixes and other solutions using the company's worm castings as the base or as a carrier.
About Forterra Environmental Corp.
Forterra manufactures, markets, and sells environmentally friendly soil enhancers, using worm castings, which boost fertility while restoring the soil with organic matter for sustainable, longer-term benefits, including stronger root growth, and drought and pest resistance. Forterra products contain only organic material. They are ideal for golf courses, sports fields, lawn care, parks, nurseries, orchards, and vineyards. Essentially, Forterra uses red wriggler worms to convert organic material into vermicompost or worm castings. Worm castings contain micronutrients, which are required for healthy plant development. Worm castings also contain microbes, which increase the rate at which plants take up available macronutrients and micronutrients. Further information is available on the company's website at www.forterra.com.
About the University of Guelph
The University of Guelph, in Guelph, Ontario, is ranked as one of Canada's top comprehensive universities because of its commitment to student learning and innovative research. It is dedicated to cultivating the essentials for our quality of life - water, food, environment, health, community, commerce, culture and learning. Agricultural Science is a focus of the university. The university is a global leader in innovative life sciences education and research for the environment, agriculture, food, and rural communities. The university's mandate is to deliver world-class education, research, and innovation that meet the needs of contemporary society.
This news release contains forward-looking statements based on current expectations. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, availability of resources, competitive pressures, changes in market activity, the ability to sign contracts with customers, the development of markets for worm castings, its ability to breed and maintain a sufficiently large worm population, and regulatory requirements. Risks and uncertainties about Forterra's business are more fully discussed in the company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada. Forterra assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE FORTERRA ENVIRONMENTAL CORP.
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