Highlights:
- INVESTOR WEBINAR: TUESDAY, NOVEMBER 17TH AT 2PM ET (12PM MST)
- Detailed engineering design is nearly complete
- Majority of the major equipment purchases are underway
- Our u pdated schedule anticipates construction contract award before the end of the year, with construction activities on - site beginning early in 2021
- Discussions have begun with potential construction contractors
- The project will be constructed using a two-phase approach. The first phase will see the installation of drying and mixing machinery , which together will produc e a bulk - dried mix product. The second phase, to commence in the future, will include the implementation of pelletizing or granulation technology, and CC m ’ s upgrading module.
TORONTO, Nov. 10, 2020 (GLOBE NEWSWIRE) -- EarthRenew Inc. (CSE:ERTH) (“EarthRenew” or the “Company”) is pleased to provide an engineering update on our Strathmore facility recommissioning project. Laporte Engineering Inc. is nearing completion of the detailed engineering design. In addition, major equipment orders required for the recommissioning process are underway. Our updated construction schedule anticipates a construction contract award by the end of the year, with construction activities on-site beginning early in 2021. Discussions are under way with potential construction contractors and EarthRenew expects to make a selection in the coming weeks.
The project will be constructed using a two-phase approach:
Phase 1: The first phase will see the installation of drying and mixing equipment, which together will produce a bulk-dried mix product. The completion of phase one is expected to allow EarthRenew to produce a heat-treated organic fertilizer product free of seeds, weeds and pathogens.
Phase 2: Phase two of the project will add pelletizing or granulation machinery and will also include CCm Technologies Limited’s (“CCm”) upgrading module, as described in our prior press releases dated April 2, 2020 ( EarthRenew Develops New Organic Fertilizer Formulation with Higher NPK in Collaboration with CCm Technologies ). The second phase will build on the knowledge and implementation insights gained during the phase one deployment, which we believe will ensure EarthRenew is delivering a high-quality product to customers.
The recommissioned facility is being designed to generate 10 tonnes per hour of finished fertilizer product, a significant improvement over the 4 tonnes per hour produced by the original facility. Furthermore, the recommissioned facility is designed to use 1.4 Megawatts (“ M W ”) generated from the on-site 4.0 MW turbine, the waste heat from which will be used in the dryer. Power generated by the turbine in excess of the 1.4 MW can be used as an additional revenue source for the site.
EarthRenew’s President & CEO, Keith Driver, commented; “We are very pleased with the design of the new facility as we move from engineering to construction. We have built on our historical knowledge to design a facility with expanded capacity and scale. The two-phase construction process will allow us to enter production sooner and decrease our commissioning period,” Keith continued.
Live Investor Webinar on Tuesday, November 17 th at 2PM ET (12 PM MST)
EarthRenew’s President & CEO, Keith Driver, will be hosting a live investor webinar to discuss the engineering update on the Strathmore Recommissioning project, other upcoming major milestones, and share some commentary on the organic fertilizer market. You can register for the webinar below:
Date : Tuesday, November 17 th , 2020
Time : 2 PM ET (12 Noon MST)
REGISTER : http://7514767.hs-sites.com/www.rbmilestone.com/earthrenew_webinar_nov17
Have Questions? Mr. Driver will be available to answer your questions following the presentation on the webinar platform. You may also submit your question(s) beforehand via email at erth@rbmilestone.com .
About EarthRenew Inc.
EarthRenew’s mission is to support a farm system that puts healthy soils and grower profitability back on the table. EarthRenew transforms livestock waste into a high-performance organic fertilizer to be used by organic and traditional growers in Canada and the United States. Located on a 25,000 head cattle feedlot, our flagship Strathmore plant is capable of producing up to four MW per hour of low-cost electricity powered by a natural gas fired turbine. The exhausted heat from the turbine is used to convert manure into certified organic fertilizer. EarthRenew is listed on the CSE under symbol ERTH. www.earthrenew.ca
For additional information, please contact:
Keith Driver
CEO of EarthRenew
Phone: (403) 860-8623
E-mail: kdriver@earthrenew.ca
Cautionary Note regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the recommissioning of our Strathmore facility, including the expected completion of engineering design, the timeline for the award of a construction contract and the commencement of construction, and the two-phase construction approach . Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; regulatory risks; and other risks of the energy and fertilizer industries. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
