- EarthRenew has entered into a definitive supply agreement to acquire biochar from BiocharNow
- EarthRenew has entered into a definitive reseller agreement to distribute finished EarthRenew pellets in the United States through BiocharNow
TORONTO, June 16, 2020 (GLOBE NEWSWIRE) — EarthRenew Inc. (CSE:ERTH) (“EarthRenew” or the “Company”) is pleased to announce that it has entered into a supply agreement to acquire biochar at a discounted price from BiocharNow, LLC (“BiocharNow”) and a reseller agreement to distribute EarthRenew finished pellets in the United States on a non-exclusive basis through BiocharNow. The supply agreement is projected to secure a high-quality Organic Materials Review Institute of Canada (“OMRI”) certified fertilizer input and we anticipate that the reseller agreement will expand EarthRenew’s market reach throughout the United States.
Biochar is charcoal used as a soil amendment for both soil health benefits and carbon sequestration. Biochar is a stable solid, is rich in carbon, and can endure in soil for thousands of years. It can assist with the retention of water and nutrients in the soil and promote the microbiological health of the soil.
EarthRenew and BiocharNow have conducted extensive testing on different product formulations together over the past two years. Adding biochar to EarthRenew’s pellets has improved the nutrient value of the finished pellets and helped manage odour. BiocharNow will benefit from the ability to sell its biochar product in a pelleted format which simplifies delivery and application for BiocharNow’s customers. EarthRenew and BiocharNow have successfully generated pellets with between 4 and 40% biochar content. EarthRenew is also testing a variety of other OMRI-certified organic inputs and generating a suite of products that can serve multiple customer needs.
EarthRenew CEO, Keith Driver, commented, “This is another strategic step forward as we move toward recommissioning our Strathmore facility. Securing this supply agreement for OMRI-certified biochar ensures that we have the ingredient inputs we need to serve our customers.”
Mr. Driver further added, “Expanding our access to the United States through a strategic partnership is the right next step in growing our market presence.”
BiocharNow’s chief executive officer, James Gaspard, said, “Our customers have been asking us to deliver our product in a pelleted format. These agreements will allow us to sell high-percentage biochar pellets throughout the United States. This new format will also open new markets and create new customers for us.”
BiocharNow is a Colorado-based biochar production company and a pioneer in the biochar industry with strong engineering, manufacturing, sales and administrative personnel focused on making and selling quality biochar on a very large scale.