Progressive Planet Announces Multiple Agreements To Provide Next Generation, Eco-Friendly Regenerative Fertilizers
Developing three products to reduce the application of chemical fertilizer
/NOT FOR DISTRIBUTION IN THE USA/
KAMLOOPS, BC, Dec. 8, 2022 /CNW/ - Progressive Planet (TSXV: PLAN) (OTCQB: ASHXF) ("Progressive Planet", "PLAN", or the "Company") is pleased to announce it has signed joint development agreements with industry thought-leaders, Eco Health Industries Ltd. ("Eco Health") and High Brix Manufacturing Inc. ("High Brix") to develop three regenerative fertilizers that reduce the application of chemical nitrogen and other chemical fertilizers. Under these agreements, PLAN will own all intellectual property rights.
The $60B chemical fertilizer industry is responsible for depleting the soil and contributing 22% of global agricultural emissions - with chemical nitrogen (urea) creating nitrous oxide, which is 300 times more harmful to the climate than carbon dioxide.
PLAN's agricultural products aim to provide cost-effective alternatives that reduce emissions and replace harmful chemicals. The alternatives developed by PLAN, High Brix, and Eco Health will accomplish 3 things, making the end-results cleaner and more cost-effective:
- Reduce chemical fertilizer use while increasing the soil's ability to store CO2,
- Allow producers to use their existing equipment, and,
- Align with the Canadian Federal Government's national target to reduce GHG emissions from fertilizer application by 30% by 2030
"Our world-class team of researchers, scientists, and engineers are working diligently to scale up production of our regenerative fertilizers and develop a range of agricultural products that reduce the carbon intensity of producing fertilizers, introduce carbon back into the soil, and reduce chemical fertilizer application rates including the application of urea," said Steve Harpur, CEO of Progressive Planet and a small plot farmer himself.
Eco Health specializes in developing products using technologies focused on nutrient use efficiency and environmental sustainability. These technologies allow land managers to efficiently use fertilizers and reduced harmful pesticides to maximize economic profitability and ecological sustainability.
"Developing green chemistries that help conventional growers transition efficiently to more regenerative biological growing systems is critical to meet climate change initiatives while reducing risk on the farm", adds Darcy Lepine, President of Eco Health Industries. Progressive Planet began toll processing the product, Hydr8, for Eco Health in 2022 and has supplied Eco Health with mineral products for more than 5 years.
High Brix makes it their business to spend countless hours coordinating and planning educational meetings, conferences, and field walks to educate producers and consumers alike about healthy soils and even more important, healthy food. High Brix serves farmers on the Canadian Prairies as well as shipping products around the globe, including micronized soft rock phosphate milled by Progressive Planet.
"Education is a vital part of what we do," says High Brix's' President, Greg Moline. "Learning how nature and ecosystems interact with each other is extremely complex. We work on the ground with farmers to provide education on biological systems. The growth of our business is a testament to the growing adaptation of biological systems and inputs in the Prairies."
The portfolio of new regenerative fertilizers consists of two broadacre and one retail product, with product names to be released at a later date.
Field trials for one of the broadacre products will commence in Alberta with High Brix customers during the 2023 spring planting. Broadacre field trials for the second product are planned for Spring 2024.
Testing to measure available nutrients for the small-bag retail product will commence in January 2023, with the final formulation to be launched in May 2023.
PLAN provides regular information for investors on its website: progressiveplanet.com/investors/. This includes press releases and other information about financial performance, patents filed, information on corporate governance, and details related to its annual meeting of shareholders.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Headquartered in Kamloops, British Columbia, we are an established manufacturing and innovation company that is engaged in the research, design, development, manufacture, integration, and sustainment of advanced absorbents, regenerative fertilizers, other farm products, and eco-friendly cement products. We are a group of passionate people who use disruptive innovation to have a positive effect on the environment by producing products to "live, farm and build, better."
Founded in 2013, Eco Health Industries is a Canadian Agri-Biotech research and development company located in Maple Ridge, British Columbia. We specialize in developing technologies that allow land managers to efficiently use fertilizers and reduced harmful pesticides to maximize economic profitability and ecological sustainability.
Headquartered in Leduc County, Alberta, High Brix Manufacturing is a reputable and dedicated business that supplies solutions for any sized growers worldwide. With over 15+ years of experience in the agricultural industry, we are committed to the Western Canadian agricultural community by helping promote education and resources for successful farming practices.
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.
This news release, required by Canadian laws, does not constitute an offer of securities and is not for distribution or dissemination outside Canada.
SOURCE Progressive Planet Solutions
or for investor relations inquiries, please contact: Steve Harpur, 1 (800) 910-3072, [email protected]
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