Highlights:
- EarthRenew, in collaboration with CCm Technologies Ltd., has been selected by the UK and Canadian governments to submit an international consortium project proposal
- The proposal is focused on implementing CCm’s technology at EarthRenew’s facility in Strathmore, Alberta to develop a high nitrogen ratio organic fertilizer product using CCm’s carbon capture technology
- The higher nitrogen content of the upgraded 7-1.7-2.2 nitrogen, phosphorus, potassium (“NPK”) ratio organic fertilizer product has the potential to deliver up to 4 times higher value for farmers
TORONTO, May 27, 2020 (GLOBE NEWSWIRE) -- EarthRenew Inc. (CSE:ERTH) (“EarthRenew” or the “Company”) is pleased to announce that it has been selected to submit an international consortium project proposal by the governments of Canada and the United Kingdom (UK).
The two governments are working together to foster and support collaborative industrial research and development (“R&D”) projects with a seemingly high potential for commercialization. The Canada-UK collaborative industrial R&D program is focused on supporting improved productivity and sustainability in the agricultural industry. EarthRenew submitted its expression of interest in March 2020 and was recently selected to complete an international consortium project proposal. One of the key goals of our proposal is centred on co-developing products and processes that have seemingly significant commercialization potential in both countries.
In January of this year, EarthRenew began formally working with CCm Technologies Ltd. (“CCm”) and testing CCm’s carbon capture utilisation technology with EarthRenew’s heat-treated manure as a base. Initial bench testing indicated that EarthRenew could generate a 7.0-1.7-2.2 NPK ratio fertilizer product. The higher nitrogen content of the upgraded 7-1.7-2.2 NPK organic fertilizer product has the potential to deliver up to 4 times higher value for farmers. EarthRenew believes implementing CCm’s technology into its production process could lead to the development of a wide range of specialist formulations in the future.
Both companies are extremely excited about this collaboration because they each believe that it could significantly advance their respective commercialization schedules. The project proposal is due at the end of June 2020. If EarthRenew’s proposal is selected by the panel, EarthRenew would be eligible for up to a 50% reimbursement of the project’s costs.
CCm’s CEO, Pawel Kisielewski, commented, “We believe our technology can significantly increase the value of EarthRenew’s product and, as a result of this initiative, we will be able to support them in developing a highly innovative organic fertilizer product. With so many users moving away from conventional fertilizer, there is a need for companies to take the lead and develop higher quality organic fertilizer products that can support our growing global food demand. CCm is proud to be at the forefront of “climate positive” innovation and collaborate in the development of solutions to this challenge.”
“This is the next clear step in building our partnership with CCm,” said EarthRenew’s CEO, Keith Driver. He continued, “this funding initiative is very much aligned with the goals of both EarthRenew and CCm. It is great to see that governments can be as collaborative as companies when trying to advance agricultural innovation.”
About CCm Technologies Ltd.
CCm Technologies Ltd., previously CCm Research Ltd., is an award winning cleantech company, focused on resource optimisation, including Carbon Capture and Utilisation. CCm's technology converts captured carbon dioxide and other waste streams (such as ammonia and phosphate) into stable value-added materials with multiple uses across global priority sectors of food/agriculture, advanced materials & energy storage. CCm is based in Oxford and Swindon, UK, and was established in 2011. CCm is a founding member of the recently formed Sustainable Markets Council, an initiative of HRH the Prince of Wales with the support of the World Economic Forum. The company has also received the coveted Solar Impulse Foundation Efficient Solutions Label. In 2014, CCm was a winner in the first round of CCEMC’s (now Emissions Reduction Alberta) international Carbon Use Grand Challenge. For more information about CCM, please visit its website at www.ccmtechnologies.co.uk.
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 EarthRenew’s partnerships with CCm, our ability to implement CCm’s technology into our production process, the development of specialist fertilizer formulations in the future, our ability to complete the project proposal on or prior to the deadline, the selection of our proposal by the panel, our eligibility for reimbursement of the project’s costs, our commercialization schedule, 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.