Respond to IZ PostersIts important to provide some factual perspective here. The world is changed towards adopting products that decrease green house gas emissions and increase food security. As a marketer of zeolite solutions, International Zeolite is well positioned to address the change. IZ developed a new vision and mission and we rebranded the company to be focused on Agtech and Green Tech.
With the acquisition of the NEREA Technology Exclusive Licence, we spent the last year and half performing independent studies that have concluded that this grow system, creates faster yields, saves the grower on fertilizer input costs and as importantly reduces Green House Gas emissions. It took this time to develop assurances that growers would adopt the products once commercialized. Additionally it has taken a significant amount of time to understand how to process and manufacture NEREA.
Along the journey, we have onboarded seasoned leadership in the areas of production, agricultural growing, Agricultural technology and developed partnerships and with Universities and Colleges that support our vision of ongoing research and development in the areas of agriculture.
I recently announced on a webinar with CoTec Holdings, that we will launch our first production plant in Ontario set for March 2023. The design and specifications of this plant is completed as well as the location. We have also secured a research and development partnership with Niagara College to ensure we have the ongoing resources for new product development.
IZ negotiated a new operators agreement with Progressive that allows Progressive to take a larger stake in our Bromley Creek mine operations. This is in line with our mission to focus on marketing of zeolite solutions and not necessarily mining of zeolite. Progressive is a valued partner and having visited the former APL facility I am impressed with their capabilities but further impressed with the foresight Progressive had in focusing on solutions that address Green House Gas emission reduction. We look forward to continuing to work with them.
In terms of the comment regarding IZ positioning Progressive products on their web site, our Agency Agreement with Progressive provides a commission to IZ when IZ directs customers to use Progressive products. It makes business sense to promote their products to increase our commission and also to drive more tonnage mined out of the Bromely Creek mine. We are reassessing whether we will remove these links on the website as it clearly creates confusion in the marketplace.
Most recently, we announced an alliance with CoTec Holdings. In my mind this is much greater then just an investment. CoTec brings global reach and management expertise supporting IZ's vision and mission.
Though our key focus is on NEREA, we will invest in our Earth Innovations division which distributes the Branded Eco products. We have identified specific zeolite products and their industry segment. We will over time increase our sales force in this space.
I always encourage open dialogue and viewpoints, but to suggest these actions do not illustrate operational trajectory towards scale and revenue generation but instead are just news releases would seem to insult everyone’s intelligence.
I do share in general terms that its time to monetize our investments in technology, capital resource and talent. I believe that the capital investment made to IZ will support these efforts.
Mark