Vancouver, British Columbia--(Newsfile Corp. - February 1, 2023) - International Zeolite Corp. (TSXV: IZ) (OTC Pink: IZCFF) (FSE: ZEON) (the "Company") is pleased to provide an update on 2022 accomplishments and an ambitious roadmap for 2023.
2022 was a year of incredible progress for International Zeolite Corp (IZ). IZ completed a transformational mission from zeolite mining and exploration to a provider of agricultural technology with a focus on developing sustainable innovations around naturally occurring zeolite which addresses environmental concerns within the agricultural sectors. Our priority in 2022 was on pre-commercialization of our NEREA® line of products as a basis to improve agriculture through increased crop size, yields and reductions in problematic waste from traditional fertilizer methods. With our line of NEREA® products, we plan to change the way crops grow and help farmers reduce their ecological footprints through lowered green-house gas emissions and a reduction in the need for traditional fertilizer.
In Cuba, IZ signed a formal agreement with the Foundation of the University of Havana to extend its exclusive licence to the NEREA® technology to 20 years for the North American, Asian, European, and Australian markets. IZ appointed Dr. Sc. Gerardo Rodríguez-Fuentes as IZ's Chief Science Officer. Dr. Fuentes is recognized as one of the world's foremost scientific leaders in natural zeolite commercial and industrial applications.
In Canada, IZ published independent studies that conclusively demonstrated that NEREA® reduced crop time in lettuce, and basil production by 50% and 30% respectively while reducing the need for fertilizer requirements by over 80%. Our studies also demonstrated a significant overall reduction in the production of green house gases. "NEREA® can simplify and accelerate crop production for food and ornamental plant producers and would also be great for long term crops such as nursery and perennial stock." - Derek Schulze, M.Sc. Professor, Niagara College.
This past year IZ signed a long-term partnership agreement with Niagara College Research and Innovation, providing IZ with an extended research and development arm. Niagara College is ranked first place in Ontario - and second in Canada - among the most recent Top 50 Research Colleges ranked by Research InfoSource Inc. "This work has implications for food production in Canada and across the globe," says Dr. Nantel, Vice-President - Research, Innovation & Strategic Enterprises at Niagara College. "It could allow us to grow crops more efficiently and economically, including in areas with limited access to soil and water."
Industry and Government recognition in 2022 provided IZ with the credibility centred around its NEREA® product line. IZ was awarded the Fertilizer Accelerating Solutions & Technology Challenge by BioEnterprise and Ontario Ministry of Food, Agriculture and Rural Affairs. The grant that accompanied this award is being applied by IZ towards commercialization activities.
The Canadian Federal Government, Agriculture Canada through its Agri-Innovation program formerly invited IZ to submit a proposal for evaluation that provides funding for pre-commercialization activities.
"Ultimately, its all about bringing our products to the growers. We believe that once the early adopter growers start using NEREA® fertilizer products in existing commercial applications, the demand will go viral. It's a triple win for growers, they reduce their crop time, they significantly reduce their input costs and contribute to the national goal of reducing green house gases," states Mark Pearlman President and Chief Operating Officer of International Zeolite Corp.
In December of 2022, IZ acquired its new production facility in Jordan Station, Ontario. IZ is currently outfitting the facility with the necessary equipment and personnel to begin production in March 2023. The location offers quick access to the Welland Canal, rail, and major trucking routes for getting our products to market.
This year we will continue to build on our great progress of 2022, as we move from pre-commercialization to full commercialization and revenue generation. 2023 will see our NEREA® product lines being produced in Ontario and into the hands of growers. Next steps are on-boarding distributors and creating education and awareness around the benefits of IZ agricultural zeolite products.
"2022 was the year we validated the benefits of NEREA®. 2023 is the year we take that investment and convert it to revenue and growing our market share," stated Ray Paquette CEO.
On Behalf of the Board
"Ray Paquette"
CEO
604.684.3301
For further information, please visit www.internationalzeolite.com.
For Investor Inquiries:
info@internationalzeolite.com
For Sales and Commercial Inquiries:
sales@earthinnovations.ca
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and number of expenditures. International Zeolite does not assume the obligation to update any forward-looking statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/153131
