Progressive Planet Solutions Inc (TSX-V:PLAN) has announced that it is leveraging recent research and development activity to expand operations and become a national toll processing provider of micronized minerals in the natural and organic fertilizer industry.
The company also announced an expanding business relationship with Fertoz Ltd (ASX:FTZ) after receiving a new purchase order for additional comminution services focused on micronizing soft rock phosphate for use as organic fertilizer.
All processing and production will be carried out at the recently acquired Absorbent Products Ltd manufacturing facility in Kamloops, British Columbia, which will support the company's plans to significantly scale customized toll processing and production work.
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"We've identified carbon sequestration as a massive opportunity area across the agricultural industry. This is where science and technology come together and help break down, activate and release mineral nutrients and other building blocks essential to all agriculture practices," said Ian Grant, vice president of business development at Progressive Planet, in a statement.
"Micronized mineral toll processing is a key that opens doors to everything from soil restoration to greenhouse gas reduction to reducing dependency on chemical fertilizers."
When micronized minerals such as soft rock phosphate are applied to farming fields, there's a correlation between increased yields and plant biomass, organic matter build-up and carbon sequestration where carbon is effectively transformed and trapped in soil, the company explained.
Soil is the second biggest carbon sink after the oceans and is not only considered by many experts to be the most logical place to put excess carbon but also shows additional benefits such as increased crop yields and soil moisture retention.
Worth an estimated $170 billion, Progressive Planet said the global fertilizer industry is currently dominated by synthetic-based fertilizers that incorporate nitrogen, phosphorus, potassium, and other nutrients.
However, the price of chemical-based fertilizers, in addition to herbicides, land, and labor have altered the supply chain. Raw materials and production costs have risen, and when combined with recent geopolitical events and strong demand, fertilizer prices are at an all-time high.
Agricultural industry
The company said it is working with customers who service the agricultural industry and are targeting end consumers who are looking for chemical free-soil additives and fertilizers that work just as well, or better, than chemical alternatives. Local regulations banning chemical soil additives, along with general health concerns, are also prompting many throughout the agricultural industry to move to natural and organic fertilizers.
"As companies move toward natural alternatives, they are looking for partners that can provide high-quality, low-carbon products while having flexibility to manufacture large quantities of multiple formulations without supply chain constraints," Grant said.
"Equally important, to be certified as an organic micronized mineral, companies must certify that their comminution process is free of non-organic materials and that the end product has not been contaminated. PLAN enjoys a unique competitive advantage in these areas, making us a valuable supply chain partner."
Progressive Planet specializes in custom toll processing services, offering clients a wide variety of precision particle configurations of varying sizes and tailored to their specifications.
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