Progressive Planet Solutions Inc (TSX-V:PLAN) announced that it has signed joint development agreements with Eco Health Industries Ltd and High Brix Manufacturing Inc to develop three regenerative fertilizers that reduce the application of chemical nitrogen and other chemical fertilizers.
Progressive Planet, which provides circular solutions using micronized minerals for the cement and agricultural sectors, it said will own all intellectual property rights under these agreements.
“Our world-class team of researchers, scientists, and engineers are working diligently to scale up production of our regenerative fertilizers and develop a range of agricultural products that reduce the carbon intensity of producing fertilizers, introduce carbon back into the soil, and reduce chemical fertilizer application rates including the application of urea,” Progressive Planet Solutions CEO Steve Harpur said in a statement.
READ: Progressive Planet Solutions receives DTC eligibility, easing trading of US shares
Progressive Planet noted the portfolio of new regenerative fertilizers consists of two broadacre and one retail product, with product names to be released at a later date.
It added that field trials for one of the broadacre products will begin in Alberta with High Brix customers during the 2023 spring planting, while Broadacre field trials for the second product are planned for spring 2024.
As well, the company said testing to measure available nutrients for the small-bag retail product will begin in January 2023, with the final formulation to be launched in May 2023.
Progressive Planet's agricultural products aim to provide cost-effective alternatives that reduce emissions and replace harmful chemicals, according to the company.
Progressive Planet is a manufacturing and innovation company engaged in the research, design, development, manufacture, integration, and sustainment of advanced absorbents, regenerative fertilizers, other farm products, and eco-friendly cement products.
Contact Sean at sean@proactiveinvestors.com