Highlights:
- Front-end engineering and design package has been completed on the facility redesign
- EarthRenew has selected Laporte Engineering Inc. as its engineering partner through final design, construction and commissioning
- The redesigned facility is projected to be capable of producing 10 tonnes per hour of finished pelleted fertilizer products
- The engineering will include CCm’s carbon capture and utilization technology
TORONTO, May 19, 2020 (GLOBE NEWSWIRE) -- EarthRenew Inc. (CSE:ERTH) (“EarthRenew” or the “Company”) is pleased to announce the commencement of detailed engineering work for the redevelopment of its Strathmore facility. Engineering work is expected to be completed in four months time, to be followed by construction and commissioning in the second half of 2020, provided that the Company secures sufficient funding. This timeline is expected to allow EarthRenew to deliver fertilizer products for the spring 2021 planting season.
EarthRenew has entered into a contract for engineering services with Laporte Engineering Inc. (“Laporte”) to redevelop the fertilizer plant in Strathmore, Alberta. The engineering services and construction and commissioning of the Strathmore facility are expected to cost between $7.8 and $8.0 million. The retrofit facility is projected to be capable of producing 10 tonnes of finished product per hour across multiple organic fertilizer product formulations. The first phase of the project will include CCm Technologies’ (“CCm”) bolt-on processing technology to increase nitrogen content for a higher value fertilizer (see the Company’s press release dated April 2, 2020, which is available under EarthRenew’s SEDAR profile at www.sedar.com and www.theCSE.com).
EarthRenew’s CEO, Keith Driver, commented, “Laporte is a Canadian engineering firm with international reach that specializes in industrial engineering. We anticipate that their focus on prioritizing the manufacturing production goals and process needs during the design phase will ensure that the Strathmore facility will be efficient and sustainable. We believe that the Laporte team’s experience designing complex industrial applications will help us to perfect the EarthRenew production process and we are looking forward to getting started.”
About Laporte
Laporte is a firm of more than 300 employees specialized in biopharmaceutical, food & beverage and industrial engineering, offering a wide array of services in the process, building and infrastructure, automation, packaging and regulatory compliance fields. The recognition Laporte has gained since 1999, and the significant business volume stemming from repeat contracts from its clients demonstrates the company’s understanding of its clients’ business goals.
About EarthRenew
EarthRenew transforms livestock waste into a high-performance organic fertilizer to be used by organic and traditional growers in Canada and the United States. Located on a 25,000 head cattle feedlot, our flagship Strathmore plant is capable of producing up to four megawatts (MW) per hour of low-cost electricity powered by a natural gas fired turbine. The exhausted heat from the turbine is used to convert manure into certified organic fertilizer.
For additional information, please contact:
Keith Driver
CEO of EarthRenew
Phone: (403) 860-8623
E-mail: kdriver@earthrenew.ca
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, statements with respect to the redesign, retrofit, construction and commissioning of EarthRenew’s Strathmore facility, including the timeline to completion, the production capacity of the retrofit Strathmore facility, the delivering of fertilizer product for the spring 2021 growing season, the implementation of CCm’s technology, our ability to execute our business plan, and our proposed business activity. 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.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.