Replenish Nutrients (ERTH.C), a Canadian company focused on providing innovative industry-leading regenerative fertilizer solutions, announced today that it had received over $162,000 CAD in non-dilutive financing from the Canadian Agriculture Partnership’s (CAP) value-added program.
CAP is a five-year, $3.0 billion federal-provincial-territorial investment in the agriculture, agri-food and agri-based products sector.
The program commenced in 2018 and has dispersed a federal-provincial investment of $406 million in strategic programs and initiatives in agriculture in Alberta alone. CAP will remain in effect in Alberta until the end of March 2023.
Replenish’s CAP award will support process design and improvement, engineering, and equipment at the company’s Beiseker site.
Gerard Philpott, exec VP of corporate development at Replenish, commented, “We are pleased to receive this funding from the Canadian Agriculture Partnership. The funding supports and validates the importance of regenerative agriculture adoption across Canada. The Beiseker facility is used as a pilot facility to demonstrate and refine processing technology for larger sites.”
The prototype facility at Beiseker demonstrates Replenish’s ability to expand to commercial production volumes and is scaling up operations to output 20,000 mt of product annually.
Beiseker is one of three facilities the company intends to operate commercially. Engineering and development activities are in progress at Replenish’s Debolt, Alberta, facility, to construct a 50,000 mt granulation facility at the fertilizer blending location.
Replenish is also pushing ahead its efforts to build a larger facility at the K+S Potash mine in Saskatchewan. The site gives the company access to 36.5 million acres of farmland in Saskatchewan and an additional 20 million acres in Manitoba. The location is still in project development stage with environmental, permitting, regulatory and preliminary engineering activities in full swing.
Earlier this month, the company provided an update on its Fall 2022 season outlook by stating it was expanding the number of blending sites from two to seven and situating those sites closer to customers.
This expansion is expected to allow the company to meet the higher-than-anticipated demand for fertilizers during the upcoming season and facilitate Replenish’s goal of reaching its targeted 200% YOY sales growth.
Construction at Debolt is expected to commence in September.
Equity.Guru’s own Chris Parry took some time to talk with Replenish CEO, Keith Driver, to get the whole story on the ground-breaking fertilizer producer and its potential for shareholders:
Getting all the color on Keith and Replenish’s necessary contribution to 21st century agriculture, Jody Vance also sat down with Keith in this interview:
Replenish Nutrients currently trades at $0.18 per share for a market cap of $17.28 million.