May 25, 2020
• EarthRenew has developed and produced five new fertilizer formulations for field trials and market development activities this spring
• The fertilizer formulations incorporate biochar, provided by BiocharNow, as well as insect frass
Toronto, May 25, 2020 (GLOBE NEWSIRE) – EarthRenew Inc. (CSE:ERTH) (“EarthRenew” or the “Company”) is pleased to announce that it has developed and produced five new formulations of fertilizer pellets, incorporating insect frass and biochar. We intend to test these new formulations in the field trial programs scheduled to take place this spring in collaboration with Olds College and Lethbridge College (see the Company’s press release dated April 29, 2020, which is available under EarthRenew’s SEDAR profile at www.sedar.com and www.theCSE.com).
EarthRenew worked with BiocharNow, LLC (“BiocharNow”) to develop the new pellet formulations. Both companies produce fertilizer inputs that we believe benefit EarthRenew’s binding properties and pelleted format.
EarthRenew produces a heat-treated manure input that has a high organic matter content called “GrowER™”. BiocharNow produces biochar that improves water and nutrient retention in soil. We believe that the combination of these ingredients, in addition to insect frass, creates higher value organic fertilizer products in a simple-to-apply format for precision agriculture. The new pelleted fertilizer formulations can be applied to soil through an air seeder or other traditional farming equipment.
We anticipate that the results from the field trial tests of these new pelleted products, which contain varying amounts of GrowER™, insect frass and biochar, will add to the results from our historical studies that indicated yields increased with the use of GrowER™ as compared to conventional fertilizers. The objective of these field trials is to validate historical results on yield and soil health and provide data on these new blends and formulations to support market development activities.
EarthRenew’s chief executive officer, Keith Driver, commented, “We are very pleased with our first run of the new blended fertilizer pellets and we look forward to seeing how they perform in the field. This is a significant step forward as we look to retool the facility in Strathmore and develop a suite of innovative product offerings that we anticipate will contribute to soil and plant health for different types of plants. We believe that collaborating with innovative partners like BiocharNow helps EarthRenew develop unique blends of sustainable organic fertilizer that we anticipate will add value for our customers and benefit the environment.”
BiocharNow’s chief executive officer, James Gaspard, said, “Biochar is a highly adsorbent, specially-produced charcoal produced using the ancient practice of heating wood or other plant material (biomass) with little to no oxygen. We produce it under specific conditions with the intent being to apply the biochar to soil as a means of increasing soil fertility and agricultural yields and sequestering carbon to reverse global warming. Compared to other organic soil amendments, biochar is much more effective at retaining nutrients and keeping them available to plants, so we are excited about this opportunity to incorporate biochar into a new EarthRenew product formulation and we look forward to field trial results. It is a unique chance to offer our product in a new format.”
BiocharNow is a Colorado-based biochar production company and a pioneer in the biochar industry with strong engineering, manufacturing, sales and administrative personnel focused on making and selling quality biochar on a very large scale.
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.
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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 partnership with BiocharNow, our collaboration with Olds College and Lethbridge College, our ability to conduct field trials, the results of the field trials, the validation of historical results, the creation of new organic fertilizer formulations, 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.