Progressive Planet Reduces Fertilizer Use by 50% with New, Proprietary Fertilizer
/NOT FOR DISTRIBUTION IN THE USA/
CARBON PK™ was applied on 617 acres this spring across Western Canada
KAMLOOPS, BC, June 1, 2023 /CNW/ - Progressive Planet (TSXV: PLAN) (OTCQB: ASHXF) ("Progressive Planet", "PLAN", or the "Company"), a leader in developing CleanTech solutions for the planet, delivers to market its first proprietary, natural fertilizer under the brand CARBON PK.
An initial production run of the Company's proprietary blend of natural forms of fertilizer inputs and additives has been sold and applied onto 617 acres in Western Canada. CARBON PK was applied at a rate 50% less than the typical rate of conventional chemical fertilizer per acre, aligning with the Canadian Federal Government's national target to reduce greenhouse gas emissions from fertilizer application by 30% by 2030.
CARBON PK was developed under the joint development agreements announced on December 8, 2022, and is the first of three natural fertilizers to be sold commercially under the agreements. The three wholly owned fertilizers, at varying stages of development, are designed to reduce the carbon footprint of the $60 Billion agrochemicals industry and rebuild soil, so it is better able to store CO2 and grow food for our rising population.
In addition to being applied to 617 acres, CARBON PK is undergoing greenhouse grow trials on four crops: wheat, canola, barley, and hemp. These four crops, according to Statistics Canada, are projected to be seeded on more than 24 million hectares in Canada this year representing an addressable market for CARBON PK of more than $1 Billion.
"Combined performance results from greenhouse grow trials and field production will be available this fall and used for scaling up production of Carbon PK at our Kamloops manufacturing plant as early as Spring 2024," said Progressive Planet CEO Steve Harpur.
Progressive Planet provides regular information for investors on its website: progressiveplanet.com/investors/. This includes press releases and other information about financial performance, patents filed, and information on corporate governance.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
We are a CleanTech and manufacturing company based in Kamloops, British Columbia, in the heart of some of Canada's richest volcanic fields, which are the prime ingredient of our innovations. Our expertise lies in merging CleanTech with ancient volcanic ash and recycled minerals to create planet-friendly products that fight climate change and protect our planet's health.
Our products are in 10,000+ retail stores across North America. Our innovations, created at our C-Quester™ Centre of Sustainable Innovation, bring positive disruption to the cement, agricultural and animal-care sectors by creating products that help reduce carbon footprints and restore ecosystems.
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.
This news release, required by Canadian laws, does not constitute an offer of securities and is not for distribution or dissemination outside Canada.
SOURCE Progressive Planet Solutions
or investor relations inquiries, please contact: Steve Harpur, President & CEO, 1 (800) 910-3072, [email protected]
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