September 8, 2020
TORONTO, Sept. 08, 2020 (GLOBE NEWSWIRE) -- EarthRenew Inc. (CSE:ERTH) (“EarthRenew” or the “Company”) is pleased to announce that it has submitted an expression of interest (“EOI”) to Emissions Reduction Alberta (“ERA”) on behalf of a larger consortium of project partners, which includes one of the largest power producers in Alberta, one of the province’s largest fertilizer producers, CCm Technology Ltd (“CCm”), Western Ranchlands Corporation (“Western Ranchlands”) and EarthRenew. The total cost of the project that is the subject of the EOI is estimated to be approximately $4.8 million.
ERA’s call for proposals is focused on agriculture, agri-food, and forestry. Alberta now produces over 40% of Canada’s total cattle inventory, 33% of the country’s wheat, 32% of its canola, and half of its barley1. In 2018, the agriculture and forestry sectors employed over 100,000 Albertans, and the province’s agri-food exports reached a record $11.6 billion1. The call for proposals is seeking innovative solutions for greenhouse gas emissions mitigation, abatement, and sequestration across Alberta’s food, farming, and forestry industries. The ERA is particularly interested in funding projects focused on regenerative practices, nature-based solutions and creating value from agricultural waste. All of these interest areas are addressed in the EarthRenew EOI.
ERA’s call for proposals closed on August 27, 2020. ERA is planning on funding an aggregate of $40 million into projects that it selects for the program. The ERA shortlist will be announced in October 2020 and final funding decisions will be made in March 2021. Participants that are selected for the program by ERA are eligible for up to a 50% reimbursement of project costs. If selected, EarthRenew could receive up to $1 million in funding to support the expansion of its Strathmore facility and implementation of CCm’s technology, which is expected to cost approximately $2.2 million. Additional information about the program can be found here: (ERA - Food, Farming and Forestry Challenge)
1 Emission Reduction Alberta. 2020.
EarthRenew has been working with CCm to incorporate its carbon capture and utilization technology to improve the nutrient profile of EarthRenew’s organic fertilizer (see press release dated April 2, 2020). Western Ranchlands, a conservation-minded agricultural investment and land management firm based in southwest Alberta, is looking to use soil amendments as part of its regenerative agricultural practices to develop lower-cost reclamation protocols. As part of the ERA project, EarthRenew proposes building the first commercial CCm unit in North America to enhance organic fertilizer and for Western Ranchlands to demonstrate the benefits of the enhanced fertilizer inputs at a 320-acre pilot site.
We project that implementing the project plan will reduce emissions at our Strathmore facility by capturing waste carbon dioxide from our on-site turbine. The fertilizer produced using CCm’s technology has also proven to sequester carbon, whereas typical fertilizers emit carbon. The demonstration at Western Ranchlands’ pilot site is expected to demonstrate the carbon sequestering benefits from regenerative agricultural practices over and above conventional reclamation projects.
“Initiatives similar to ERA’s program are setting Alberta up to become a leader in innovative and regenerative agricultural processes,” Western Ranchlands’ CEO, Sheldon Atwood, remarked. “By partnering with a company like EarthRenew we can potentially deliver important soil amending material and organic fertilizer where it is needed most, accelerating soil building and restorative reclamation processes,” Mr. Atwood added.
“We are very excited to continue on the path towards commercialization of our products together with EarthRenew,” CCm’s CEO, Pawel Kisielewski, commented. “Programs like this are completely aligned with our company mission in trying to bring innovation and reduce emissions in the agricultural sector.”
“We see this as the next step in increasing the value of our product and operations in Strathmore, Alberta,” said EarthRenew’s CEO, Keith Driver. “This funding initiative is very much aligned with the joint goals of EarthRenew, Western Ranchlands and CCm. It is encouraging to see Alberta take the lead in trying to bring sustainable agricultural innovation to the spotlight,” Mr. Driver continued.
About Western Ranchlands Corporation
Western Ranchlands is a conservation-minded agricultural investment and land management firm based in southwest Alberta, Canada. They use a combination of science-based strategies, proven management systems and professional expertise to efficiently manage land on a large scale. Western Ranchlands offers a new perspective and a new approach to synergistically combine the operation of livestock businesses, the conservation of open space, and real estate investment.
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 (CCU). 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. www.ccmtechnologies.co.uk
EarthRenew transforms livestock waste into a high-performance organic fertilizer to be used by organic and traditional growers in Canada and the United States. Our mission is to support a farm system that puts healthy soils and grower profitability back on the table. We offer farmers a complete solution to rebuild soil health and improve the nutrient density of plants by transforming livestock waste into a concentrated organic fertilizer pellet that is easy to transport and apply.
For additional information, please contact:
CEO of EarthRenew
+1 (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 partnership with CCm and Western Ranchlands, including EarthRenew’s implementation of CCm’s carbon capture and utilization technology as part of its Strathmore facility expansion and the support of Western Richlands’ project to demonstrate carbon sequestering benefits; the ERA program, including the program’s timeline, implementation of the program plan and the estimated cost of the project that is the subject of the EOI; our ability to execute our business plan; and our proposed business activities. 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.