Progressive Planet Continues to Grow Fertilizer Revenues with Reorder of Key Fertilizer Ingredient
/NOT FOR DISTRIBUTION IN THE USA/
KAMLOOPS, May 25, 2023 - Progressive Planet (TSXV: PLAN) (OTCQB: ASHXF) ("Progressive Planet", "PLAN", or the "Company"), a leader in developing CleanTech solutions for the planet, advances its strategy to become a global supplier of natural fertilizers, with a confirmed reorder from a major North American manufacturer of fertilizer.
On February 27, 2023, Progressive Planet announced it had received an initial 40-tonne order of its volcanic-derived fertilizer ingredient, swelling bentonite, used in popular sulphur bentonite fertilizers. This additional 96-tonne order continues to expand Progressive Planet's entry into the $60-Billion USD North American fertilizer and agrochemicals market.
"Based on our historic customer-retention record, we were highly confident the initial fertilizer order would be the first of many," said Progressive Planet COO Ian Grant. "Because the fertilizer ingredient is a mineral by-product from our established operations, each additional sale is important not only for building our fertilizer business, but also to boost margins of some of our branded products."
"These branded products are an important piece of our growth strategy as they provide ready market access to many of the largest retail chains across North America for launching new, proprietary fertilizer products," added Grant.
The dry-form fertilizer segment of the North America fertilizer market is expected to surpass $24-Billion USD in revenue by 2028, owing to the potential for easy storage and slow-release rate, which helps in efficiently feeding the crops for a longer time. Progressive Planet is aggressively developing and commercially introducing new, proprietary fertilizers into this market over the next 12 months.
Progressive Planet provides regular information for investors on its website: progressiveplanet.com/investors/. This includes press releases and other information about financial performance, patents filed, and information on corporate governance.
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We are a CleanTech and manufacturing company based in Kamloops, British Columbia, in the heart of some of Canada's richest volcanic fields, which are the prime ingredient of our innovations. Our expertise lies in merging CleanTech with ancient volcanic ash and recycled minerals to create planet-friendly products that fight climate change and protect our planet's health.
Our products are in 10,000+ retail stores across North America. Our innovations, created at our C-Quester™ Centre of Sustainable Innovation, bring positive disruption to the cement, agricultural and animal-care sectors by creating products that help reduce carbon footprints and restore ecosystems.
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.
This news release, required by Canadian laws, does not constitute an offer of securities and is not for distribution or dissemination outside Canada.
SOURCE Progressive Planet Solutions
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