- 40-tonne order is latest advance in Progressive Planet’s strategy to increase revenue and productivity by commercializing by-products into direct commercial sales
KAMLOOPS, BRITISH COLUMBIA – February 27, 2023 – Progressive Planet (TSXV: PLAN) (OTCQB: ASHXF) (“PLAN”, or the “Company”) is pleased to announce it is advancing its strategy to become a global supplier of natural fertilizers, starting with a confirmed order from a major North American manufacturer of fertilizer.
The purchase order was received after the Progressive Planet volcanic-derived fertilizer ingredient — swelling bentonite used in popular sulphur bentonite fertilizers — passed a rigorous series of quality control tests by the customer.
The initial 40-tonne order represents a significant achievement for Progressive Planet on two fronts:
- Progressive Planet expands its entry into the $60-billion USD North American fertilizer market, a foothold it intends to grow in the months and years ahead by tapping into its wholly owned deposits of natural volcanic ash, minerals and clays.
- The fertilizer additive sale also advances Progressive Planet’s strategy of maximizing the environmental and commercial benefits of all natural materials it harvests and processes from its volcanic deposits in southern British Columbia. In this case, the fertilizer component being shipped is a direct by-product from its production of Wundercat cat litter, representing a circular approach to product development designed to enhance both the sustainability and profitability of Progressive Planet.
“I am delighted to see Progressive Planet continue to improve efficiencies by converting a mineral powder by-product directly into a high-value end product without further processing,” said Progressive Planet CEO Steve Harpur.
“Historically, we would convert mineral powder by-products back into granular products using costly incremental water, electricity, natural gas, and labour to wet, dry, extrude, and crush this material a second time,” he added. “Now, this valuable by-product is simply bulk packaged and shipped. This increases our gross margins and creates a more sustainable manufacturing process from our volcanic ash and mineral supply chain.”
Harpur said the company is highly confident this initial fertilizer sale will be one of many, based on the company’s historic customer-retention record.
“When customers order from Progressive Planet, our records show that over 90 per cent reorder,” said Harpur. “That’s why Progressive Planet products are in 10,000 plus North American stores and outlets — and counting.”
Progressive Planet, surrounded by the ancient volcanic fields of southern British Columbia, is a Clean-tech manufacturer of a wide array of every-day products derived from volcanic ashes and minerals it harvests from its extensive volcanic deposits. From its C-Quester Innovation Centre in Kamloops, Progressive Planet taps into these ancient resources to create planet-friendly solutions for the cement, agricultural and fertilizer sectors that reduce CO2 emissions and restore the health of the Earth.
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release.
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