Progressive Planet Solutions Inc (TSX-V:PLAN). said it has advanced on its strategy to become a global supplier of natural fertilizers with a re-order for its volcanic-derived fertilizer ingredient from a major North American fertilizer manufacturer.
Following an initial 40-ton order for welling bentonite, which is used in popular sulphur bentonite fertilizer, the company said it has received an additional 96-ton order.
"Based on our historic customer-retention record, we were highly confident the initial fertilizer order would be the first of many," said Progressive Planet COO Ian Grant in a statement.
"Because the fertilizer ingredient is a mineral by-product from our established operations, each additional sale is important not only for building our fertilizer business but also to boost margins of some of our branded products."
Grant continued: "These branded products are an important piece of our growth strategy as they provide ready market access to many of the largest retail chains across North America for launching new, proprietary fertilizer products.”
The company noted that it is aggressively developing and commercializing new proprietary fertilizers for the growing dry-form segment of the North American fertilizer market, which is expected to surpass $24 billion in revenue by 2028.
Progressive Planet is a CleanTech and manufacturing company based in Kamloops, British Columbia, in the heart of some of Canada’s richest volcanic fields, which is the prime ingredient for its innovations.
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