Highlights:
- EarthRenew has renewed its lease of 2.92 acres of the Cattleland Feedyards site located in Wheatland County, Alberta, East of Calgary, for a 9-year term, with eight 5-year extension options
- The feedstock agreement included in the lease agreement secures a minimum of 40,000 tonnes of wet manure feedstock annually, which we estimate can be used to generate up to 18,000 tonnes of EarthRenew organic fertilizer
- Cattleland Feedyards expects savings of up to $500,000 annually by taking advantage of the unique on-site waste management solution provided by EarthRenew
TORONTO, Dec. 01, 2020 (GLOBE NEWSWIRE) — EarthRenew Inc. (CSE:ERTH) (“EarthRenew” or the “Company”) is pleased to announce that on November 25, 2020, it entered into a new 9-year lease agreement effective October 1, 2020, and expiring September 30, 2029, including eight 5-year extension options, with Cattleland Feedyards Ltd. (“Cattleland Feedyards”). The leased property is located in Strathmore, Alberta at Cattleland Feedyards’ 25,000 head feedlot. We estimate that the feedlot can provide EarthRenew with over 50,000 tonnes of wet manure per year. The lease also ensures a long-term solution for manure management at Cattleland Feedyards.
The lease secures EarthRenew’s flagship operating site for the long term as the Company continues with its recommissioning phase. The lease is for 2.92-acres on the feedlot and we estimate that the Company will be able to produce approximately 18,000 tonnes per year of finished fertilizer product from the manure provided by Cattleland Feedyards.
The feedstock agreement included in the lease agreement entitles EarthRenew to a minimum of 40,000 tonnes of wet manure annually. The agreement also outlines guidelines for manure quality, including moisture content, freshness, waste content, and debris. The two companies have agreed to continually revise collection and transfer procedures depending on the time of year and seasonal conditions.
Cattleland Feedyards’ CEO, Keith Gregory, commented, “The recommissioning of the EarthRenew facility will comprise the majority of our manure management solution. By taking our waste, EarthRenew’s operation will help us save close to half a million dollars a year in hauling and spreading costs.”
EarthRenew’s CEO, Keith Driver, commented, “We are very pleased to renew our lease with Cattleland Feedyards for the long term. Cattleland Feedyards has been an excellent partner to date and we are excited to capitalize on the synergies that will be recognized from co-locating right at our feedstock source.” Mr. Driver continued, “We believe this lease represents more than simply a transactional relationship, but rather a true union. It demonstrates how businesses can work together to create a more sustainable agricultural system.”
EarthRenew is pleased to present this video interview featuring Keith Gregory discussing his manure management challenges and the benefits of the newly signed lease agreement with EarthRenew: https://www.earthrenew.ca/media
About Cattleland Feedyards Ltd.
Cattleland Feedyards provides beef cattle procurement, feeding, research, and marketing services. The company offers feedlot, new pharmaceutical and feed ingredient products through research, trucking, and farming services.
