/NOT FOR DISTRIBUTION IN THE USA/
CARBON PK™
was applied on 617 acres this spring across Western Canada
KAMLOOPS, BC, June 1, 2023
/CNW/ - Progressive Planet (TSXV: PLAN) (OTCQB:
ASHXF) ("Progressive Planet", "PLAN", or the
"Company"), a leader in developing CleanTech solutions for the
planet, delivers to market its first proprietary, natural
fertilizer under the brand CARBON
PK.
An initial production run of the Company's proprietary blend of
natural forms of fertilizer inputs and additives has been sold and
applied onto 617 acres in Western
Canada. CARBON PK was
applied at a rate 50% less than the typical rate of conventional
chemical fertilizer per acre, aligning with the Canadian Federal
Government's national target to reduce greenhouse gas emissions
from fertilizer application by 30% by 2030.
CARBON PK was developed under
the joint development agreements announced on December 8, 2022, and is the first of three
natural fertilizers to be sold commercially under the agreements.
The three wholly owned fertilizers, at varying stages of
development, are designed to reduce the carbon footprint of the
$60 Billion agrochemicals industry
and rebuild soil, so it is better able to store CO2 and
grow food for our rising population.
In addition to being applied to 617 acres, CARBON PK is undergoing greenhouse grow trials
on four crops: wheat, canola, barley, and hemp. These four crops,
according to Statistics Canada,
are projected to be seeded on more than 24 million hectares in
Canada this year representing an
addressable market for CARBON PK
of more than $1 Billion.
"Combined performance results from greenhouse grow trials and
field production will be available this fall and used for scaling
up production of Carbon PK at our Kamloops manufacturing plant as early as
Spring 2024," said Progressive Planet CEO Steve Harpur.
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.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
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accuracy of this release.
About Progressive
Planet:
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.
Forward-Looking
Statements:
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.
Disclaimer:
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