Progressive Planet Solutions Inc said it has received its first purchase order from Fertoz Ltd (ASX:FTZ) as part of a new business relationship that will focus on grinding soft rock phosphate into fine powder for use as organic fertilizer.
Progressive Planet noted it will process Fertoz's phosphate products for sale throughout western Canada and the northwest US.
“Soil is the second biggest carbon sink after the oceans and the most logical place to put excess carbon,” Progressive Planet Solutions vice president of business development Ian Grant said in a statement.
READ: Progressive Planet says subsidiary in collaboration to accelerate development of eco-friendly products for cement, concrete, and building products industries
"We are extremely pleased to be working with such a like-minded company and be processing materials that will rebuild our soils so they can sequester more CO2,” Grant added.
Progressive Planet said it has implemented a series of upgrades to its Comminution Plant to keep up with the rapid growth in demand for non-chemical fertilizers.
Fertoz CEO Pat Avery also commented on the new business relationship, stating: “We have been conducting planning and specifications meetings with Progressive Planet for some time. With their plant upgrades and our increasing sales volumes, particularly specialty blends, PLAN provides a great location for our customers.”
“As noted, we have mining in the area and PLAN's operation will allow us to upgrade our low carbon fertilizers cost effectively.”
Progressive Planet added that Fertoz has its permits in place and is planning to begin mining and extraction operations in August 2021 to access large phosphate resources in Fernie, British Columbia (BC).
Progressive Planet is an emerging leader in supplying solutions for a livable planet by developing low carbon, pozzolan-based, cementing products that replace equivalent amounts of Portland Cement and fly ash in concrete. The production of Portland Cement is the second-largest global generator of CO2 emissions.
The company operates its flagship Z1 Natural Pozzolan Quarry in Cache Creek, BC and is earning a 100% interest in the Z2 Natural Pozzolan Property near Falkland, BC and earning a 100% interest in the Heffley Creek Metals and Natural Pozzolan Property. All three properties are within a one-hour drive of Kamloops, BC, an industrial hub with rail access to Canadian and US markets.
Contact Sean at sean@proactiveinvestors.com