TORONTO, Oct. 16, 2019 (GLOBE NEWSWIRE) -- EarthRenew Inc. (CSE:ERTH) (“EarthRenew” or the “Company”) is pleased to announce that it has received additional approvals for the use of its fertilizer products.
The EarthRenew fertilizer formulations have been granted the required approvals under the California Fertilizing Materials Law and Regulations and USDA National Organic Program standards. These important U.S. product certifications mean that in future EarthRenew will be permitted to sell its organic fertilizer products in the sizeable California market.
The Company has also received approval from the Canadian Food Inspection Agency to market and sell its newly developed fertilizer formulation in Canada, which includes biochar. Biochar is a charcoal-like substance that is made by burning organic material from agricultural and forestry wastes (also called biomass) in a controlled process called pyrolysis. Mixing biochar in with the EarthRenew organic fertilizer pellet manages odour, helps retain nutrients and moisture in the soil and provides an additional source of carbon. This approval allows for the eventual sale of all EarthRenew organic fertilizer products across Canada once the Strathmore plant is in production.
CEO Keith Driver commented, “Successfully navigating these regulatory processes ensures EarthRenew has access to key markets for the distribution and sale of our fertilizer products across North America in the future. We will continue to work on the development of our organic fertilizer products to ensure that we meet the needs of organic farmers, home gardeners and landscapers. The addition of biochar provides a particular value-add for our products in the organic markets.”
The company continues to progress with the redevelopment of the fertilizer production facility at Strathmore, Alberta. This process is expected to include additional field trials with the revised formulations for 2020 and a redevelopment of the facility in time to deliver products for spring 2021.
EarthRenew is a low-cost sustainable power-generation company with a patented production process that converts livestock waste to nutrient-rich, slow-release pelleted organic fertilizer. EarthRenew converts natural gas to electricity from an industrial-sized gas turbine which it intends to capitalize on through various revenue drivers. These include selling surplus electricity to the electrical grid and to cryptocurrency miners which can co-locate on site and to dry manure feedstock to produce high value organic fertilizer. The Company has a commercial scale operation in Strathmore, Alberta.
For additional information, please contact:
CEO of EarthRenew
Phone: (403) 860-8623
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 ability to generate and sell electricity to the electrical grid or to other cryptocurrency miners, produce and sell organic fertilizer, redevelop its fertilizer production facility and execute its business plan and 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, fertilizer and cryptocurrency 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.