Progressive Planet Solutions Inc (TSX-V:PLAN) has announced it is advancing its strategy to become a global supplier of natural fertilizers, starting with a confirmed order from a major North American manufacturer of fertilizer.
The Canadian firm said the purchase order was received after its volcanic-derived fertilizer ingredient — swelling bentonite used in popular sulphur bentonite fertilizers — passed a rigorous series of quality control tests by the customer.
"I am delighted to see Progressive Planet continue to improve efficiencies by converting a mineral powder by-product directly into a high-value end product without further processing," Progressive Planet CEO Steve Harpur said in a statement.
READ: Progressive Planet Solutions to distribute its Wundercat cat litter in big box stores across British Columbia
The company said the initial 40-tonne order represents a significant achievement on two fronts:
- Progressive Planet expands its entry into the US$60-billion North American fertilizer market, a foothold it intends to grow in the months and years ahead by tapping into its wholly owned deposits of natural volcanic ash, minerals and clays; and
- The fertilizer additive sale also advances Progressive Planet's strategy of maximizing the environmental and commercial benefits of all natural materials it harvests and processes from its volcanic deposits in southern British Columbia. In this case, the fertilizer component being shipped is a direct by-product from its production of Wundercat cat litter, representing a circular approach to product development designed to enhance both the sustainability and profitability of Progressive Planet.
"Historically, we would convert mineral powder by-products back into granular products using costly incremental water, electricity, natural gas, and labour to wet, dry, extrude and crush this material a second time," Harpur added. "Now, this valuable by-product is simply bulk packaged and shipped. This increases our gross margins and creates a more sustainable manufacturing process from our volcanic ash and mineral supply chain.”
Harpur said the company is highly confident this initial fertilizer sale will be one of many, based on its historic customer-retention record.
"When customers order from Progressive Planet, our records show that over 90% reorder," he said. "That's why Progressive Planet products are in 10,000 plus North American stores and outlets — and counting.”
Progressive Planet, surrounded by the ancient volcanic fields of southern British Columbia, is a clean-tech manufacturer of a wide array of everyday products derived from volcanic ashes and minerals it harvests from its extensive volcanic deposits.
From its C-Quester Innovation Centre in Kamloops, the company taps into these ancient resources to create planet-friendly solutions for the cement, agricultural and fertilizer sectors that reduce CO2 emissions and restore the health of the Earth.
Contact the author at stephen.gunnion@proactiveinvestors.com