Spent Photochemical Availability No Longer Limits GOLD’n GRO Manufacturing Capacity
Other Major Positives Include Lower Operating Costs, Tripling Finished Product Storage and a 50 Percent Increase in Fertilizer Manufacturing Capacity
RENO, NV, Dec. 14, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Itronics Inc. (OTC:ITRO), the “Zero Waste Energy Saving” Technology Company that produces GOLD’n GRO fertilizers and silver and is developing revolutionary Rock Kleen mine tailings recovery technology, today reported that it has permanently ended its dependency on spent photographic liquids as a raw material in its GOLD’n GRO multinutrient liquid fertilizers.
“We are making this announcement to inform our investors and our GOLD’n GRO fertilizer customers that we have successfully made the shift to use of a synthetic photoliquid replacement to fulfill that ingredient requirement for the fertilizer manufacturing,” said Dr. John Whitney, Itronics President. “The good news is that we have made the transition operationally and that now GOLD’n GRO fertilizer sales can be continued and expanded without being limited by dependency on a declining raw material supply source. This is a fundamental and permanent change in the Company’s operations.”
There is no physical change in the GOLD’n GRO fertilizers. They have the same composition, and superior quality, stability, and mixing compatibility as before. The finished quality may be higher due to lack of any trace impurities that are commonly associated with used materials. Most important, there will no longer be manufacturing capacity limitations due to photoliquid supply constraints. There are also major operational and economic benefits which are explained below.
The Company will keep its photochem processing permits in place for at least another year because there is still a small amount of photochemical waste being generated by a small number of customers. However, the reduction in photoliquid processing requirements is making room for more fertilizer raw material storage and for storage of finished fertilizers inside the manufacturing plant. The Company has been studying the feasibility of expanding its GOLD’n GRO fertilizer manufacturing capacity by repurposing some of its photochemical processing capacity and internal tank storage.
There are cost and other benefits being experienced by the reduction in spent photoliquid receipts. The liquid handling requirements have been significantly reduced. Operating staff has been reduced, storage requirements have been reduced, and photochem processing is significantly reduced. These reductions increase internal storage capacity for finished fertilizers by more than 30,000 gallons, which is triple our current finished product bulk storage. In addition, the reactor tank used to process photoliquids is being repurposed for fertilizer manufacturing, resulting in a more than 50 percent increase in fertilizer manufacturing capacity.
In the intermediate term, 2024 operating year, this will allow the Company to avoid about $1 million in planned capital investment. These benefits will be realized immediately without any delays for permitting approvals and construction. This is important to our ability to respond to customer demand in the next fertilizer sales season which is expected to start early in the new year.
The transition to the synthetic chemistry represents a fundamental change in the company’s operations. Disconnecting GOLD’n GRO fertilizer manufacturing capacity from spent photochemical supply constraints is a permanent change. This means that GOLD’n GRO sales can be expanded to meet market demands, without distributors and large customers having to be concerned about the amounts that can be reliably purchased on an on-going basis because of recycled material supply limitations that the Company may have. This also establishes GOLD’n GRO fertilizer manufacturing as a permanent business line for the Company. An important consideration for all of the Company’s interested parties.
“We would like to thank our investors for their continued support,” said Dr. Whitney. “Our portfolio of “Zero Waste Energy Saving Technologies” is making the world cleaner and greener, while the Company continues its drive to profitability.”
About Itronics
Headquartered in Reno, Nevada, Itronics Inc. is a “Zero Waste Energy Saving Technology” Company that produces GOLD’n GRO multi-nutrient liquid fertilizers, silver bullion, and silver-bearing glass. The Company’s environmentally friendly award winning GOLD’n GRO liquid fertilizers are used extensively in agriculture in California. Access GOLD’n GRO information at www.goldngro.com.
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("Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.)
Contact: Kyle Graham
(775) 689-7696
