Progressive Planet Solutions Inc (TSX-V:PLAN), which develops cleantech solutions, revealed that it had delivered to the market its first proprietary, natural fertilizer under the brand CARBON PK
The Kamloops, British Columbia-based company, which provides circular solutions using micronized minerals for the cement and agricultural sectors, said an “initial production run” of its proprietary blend of natural forms of fertilizer inputs and additives has been sold and used on 617 acres in western Canada.
The company said CARBON PK was applied at a rate 50% less than the typical rate of conventional chemical fertilizer per acre. This aligns well with the Canadian federal government's national target to cut greenhouse gas emissions from fertilizer applications by at least 30%, by 2030.
The company said CARBON PK was developed under its joint development agreements announced on December 8, 2022. The firm pointed out that it 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, said Progressive Planet. It also noted that it’s best to be able to store carbon dioxide while growing food for the world’s rapidly growing population.
In addition to being applied to 617 acres, Progressive revealed that CARBON PK is undergoing greenhouse grow trials on four crops such as wheat, canola, barley, and hemp. The 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 over $1 billion, noted the company.
"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 is based in Kamloops which is in the heart of some of Canada's richest volcanic fields, providing the prime ingredient for its innovations. The company’s expertise lies in merging cleantech with ancient volcanic ash and recycled minerals to create planet-friendly products that fight climate change and protect the planet. The company’s C-Quester Centre of Sustainable Innovation has been disrupting the cement and agricultural industries with its products aimed at reducing the carbon footprint.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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