Highlights:
EarthRenew partners with Olds College to initiate plot field trials to test yield and soil health characteristics related to its organic fertilizer formulationsEarthRenew partners with Lethbridge College to begin greenhouse field trials to test germination rate influence of its organic fertilizer formulationsResults of the greenhouse trials expected to be available in early summer 2020 while plot trial data expected to be available at the end of the 2020 growing seasonField study results are anticipated to be used to validate benefits for EarthRenew and help create organic fertilizer formulations suitable for commercializationTORONTO, April 29, 2020 (GLOBE NEWSWIRE) — EarthRenew Inc. (CSE:ERTH) (“EarthRenew” or the “Company”) is pleased to announce partnerships with two well-known Alberta-based applied research institutions, Olds College and Lethbridge College. These partnerships are expected to focus on a new set of field trials for EarthRenew fertilizer, designed to validate historical results on yield and soil health, and provide data on new blends and formulations appropriate for commercialization. From these field trials, EarthRenew intends to gather field data for its historical fertilizer formulations as well as a number of new formulations it is testing that include biochar and other ingredients approved for organic production. EarthRenew has agreed to pay $19,658.34 and $9,841.13 to Olds College and Lethbridge College, respectively, as our matching contribution covering the direct equipment and field costs in connection with the partnerships.EarthRenew CEO Keith Driver commented, “Having access to well-known applied research institutions with a focus on agriculture is a huge advantage to EarthRenew as we collect academic data on the efficacy of our organic fertilizers. We intend for these new partnerships with Olds College and Lethbridge College to be the start of a scientific relationship that helps us develop new organic fertilizer formulations that meet the changing needs of farmers. We believe that consumers are growingly increasingly aware and concerned about where their food comes from and how it’s grown. EarthRenew has the opportunity to deliver an environmentally sustainable fertilizer solution that reduces farm waste and increases organic yields. We project that implementing rigorous testing and data collection with our academic partners will help us deliver value-add organic fertilizer products to farmers and gardeners.”EarthRenew has developed a number of new formulations, including an air-seedable format, for the trials. The fertilizer pellets have the potential to help farmers improve application efficacy, even reducing total fertilizer use, because they can be placed directly in the seed row where they are needed. The air-seedable format can also reduce operational and spreading costs.Olds College is expected to be the lead partner for small plot trials, which we anticipate will be performed over the entire growing season with planting beginning in early May 2020 and results expected at the end of the 2020 growing season. Under the partnership, Olds College has agreed to contribute resources and staff to oversee the field trials and insights into the improvement of new formulations. Plot trials are scheduled to be conducted on five EarthRenew formulations and will be compared against controls.Simultaneously, EarthRenew expects to conduct greenhouse trials at Lethbridge College to determine how EarthRenew fertilizers will impact plant germination rates. We intend to use Lethbridge College’s sophisticated greenhouse research facilities for the trials. Results from the Lethbridge College greenhouse studies are expected to be available by early summer 2020. Trials from both institutions are planned to utilize barley and peas as test subjects to obtain results for both broad acre and specialty crops.Olds College and Lethbridge College were selected as partners because we believe that they have world class agricultural applied research capabilities. We understand that these institutions also have the ability to extend the partnership to other strategic partners in the Alberta agricultural industry and to support product development right through commercialization. Expanding the collaboration beyond just one institution is projected to allow EarthRenew to broaden its reach in the regional agricultural community and conduct multiple trials simultaneously.Dr. Kenny Corscadden, Associate Vice President Research at Lethbridge College, states, “Lethbridge College works closely with industry partners to provide applied research, consulting and training services to the agricultural industry. We are excited to be leading the greenhouse trials in the early spring, and we look forward to providing scientific insight on delivering environmentally friendly fertilizer products to the market.”Dave McMurray, Manager, Applied Research at Lethbridge College, commented, “We are looking forward to starting the greenhouse trials with EarthRenew in the early spring. We are encouraged to see an Alberta-based company developing progressive agriculture solutions and we look forward to providing scientific insight on delivering environmentally friendly fertilizer products to the market.”Jason Bradley, Manager – Partnerships at Olds College, added, “In the summer of 2018, we established the “Smart Farm” at Olds College, where we are incorporating the latest technologies aimed at improving productivity, while efficiently and sustainably using resources. The Smart Farm will provide a living lab to test and validate the EarthRenew formulations. Our students and faculty are excited to contribute their time and knowledge to improve productivity, sustainability and profitably of new agriculture technologies with our industry partners like EarthRenew.”About Olds CollegeOlds College is a post-secondary academic institution specializing in agriculture, horticulture, land-based education, environmental stewardship, entrepreneurship and applied research. The college benefits from collaboration with innovative companies who provide commercial market applications. The college has developed the “Smart Farm”, which is a commercially operated demonstration farm with cutting edge technology being incorporated in order to provide for a learning environment for students of the college and an opportunity for industry to develop, integrate and test new agriculture technology and practices. Olds College aims to continue leading among its peers with innovative research and solutions that support regenerative agriculture studies.About Lethbridge CollegeLethbridge College has been recognized as one of Canada’s top 50 research colleges for the sixth time in seven years by Research Infosource. The college’s Centre for Applied Research, Innovation and Entrepreneurship (CARIE) brings together community organizations, researchers and students to collaborate on projects that use new or existing knowledge to solve real-world challenges with immediate practical applications. Project outcomes often lead to innovative products and services that benefit the economy and society.
About EarthRenew
EarthRenew transforms livestock waste into a high-performance organic fertilizer to be used by organic and traditional growers in Canada and the United States. Located on a 25,000 head cattle feedlot, our flagship Strathmore plant is capable of producing up to four megawatts (MW) per hour of low-cost electricity powered by a natural gas fired turbine. The exhausted heat from the turbine is used to convert manure into certified organic fertilizer. For additional information, please contact:
Keith Driver
CEO of EarthRenew
Phone: (403) 860-8623
E-mail: [email protected] Cautionary Note regarding Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to EarthRenew’s partnerships with Olds College and Lethbridge College, our ability to conduct field trials, the results of the field trials, the validation of historical results, the creation of new organic fertilizer formulations, our ability to execute our business plan, , and our proposed business activity. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; regulatory risks; and other risks of the energy, and fertilizer industries. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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