Verde details Plant 3 construction plans

BELO HORIZONTE, Brazil, April 04, 2022 (GLOBE NEWSWIRE) -- Verde AgriTech Plc (TSX: “NPK”) (OTCQB: “AMHPF”) (“Verde” or the “Company”) is pleased to announce that it has commenced the studies required for permitting and construction of its third production facility (“Plant 3”). Plant 3 is projected to have a production capacity of up to 10,000,000 tonnes per year (“tpy”) of Verde’s multinutrient potassium products, BAKS® and K Forte® sold internationally as Super Greensand® (the “Product”), raising the Company’s overall production capacity to 13,000,000 tpy, which represents 16.41% of the current Brazilian potash market in K₂O.

Plant 3’s engineering studies have started and are expected to be concluded in the second half of 2022. Construction of Plant 3 is expected in the second half of 2023, with operations projected to start in the first half of 2024.

Alongside the Product, Plant 3 will deploy proprietary technologies developed by Verde: Cambridge Tech, 3D Alliance, MicroS Technology, and N Keeper. Cambridge Tech was developed in partnership with the University of Cambridge, through mechanical activation it alters the structure of Glauconitic Siltstone, ensuring that potassium and other nutrients are progressively made available to plants. 3D Alliance technology transforms the three-dimensional structure of the raw materials added to a fertilizer, creating a homogenous combination of nutrients that are more evenly distributed in the soil. MicroS Technology is an elemental sulfur micronisation process that results in a larger contact surface that facilitates the work of soil microorganisms and increases nutrient availability to plants. N Keeper alters the physical-chemical properties of Glauconitic Siltstone to enable ammonia retention for use as a calibrated additive in nitrogen fertilizers. Verde currently has one granted patent and 8 patents pending.

Verde’s current Plant 1 production capacity is 600,000 tpy. Plant 2 is on track to start production in Q3 2022 initially with a 1,200,000 tpy production capacity, as announced by the Company in the press release published on March 03, 2022. The final Plant 2 capacity of 2,400,000 tpy is expected to be reached in early Q4 2022. Therefore, by Q4 2022, with Plant 2’s expansion, overall production capacity is expected to be 3,000,000 tpy, establishing Verde as Brazil’s largest potash producer.

The Company continues working on its New Pre-Feasibility Study, which analyses a scenario of total annual production of 50,000,000 tonnes of Verde’s Product, equivalent to 63% of the total Brazilian potash consumption in 2021.

“In an effort to meet our growing client base's need for potash, Verde is taking one more steady step towards an ever greater market presence. We are confident that the state and federal governments understand the invaluable work that our team has been performing towards food security and environmental soundness, and they will endeavour to ensure the timely approval of the few permits that are still under review,” commented Verde’s Founder, President & CEO Cristiano Veloso.

About Verde AgriTech

Verde is an agricultural technology company that produces fertilizers. Our purpose is to improve the health of all people and the planet. Rooting our solutions in nature, we make agriculture healthier, more productive, and profitable.

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