TORONTO, ONTARIO -
- Output of organic soil enrichment products up 250% in two
months and will be running at 100-tons-per-month rate for June
- Production to continue doubling on a monthly basis
- Forterra expects to sell all it can produce
- Achieves strategic increase in inventory level to 325 tons of
soil enrichment product, compared with just 30 tons at 2007
year-end
- Strawberry grower realizes $100,000 return on $6,000
investment in Forterra products as yield improves 50%, while size
and amount also increase
Forterra Environmental Corp. (TSX VENTURE: FTE), an emerging
leader in the production and sale of premium organic soil
enrichment products based on worm castings, today announced that
its Toronto (Downsview) production plant has achieved an
approximately 250 percent increase in its production rate from the
level of two months ago. The company also announced the extremely
impressive preliminary results of a trial of its soil enrichment
products conducted with a university and a hydroponic strawberry
grower.
"We have achieved the remarkable capability of being able to
double our output of worm castings each month to meet our
customers' demands," said Richard Denyes, President and Chief
Operating Officer. "In the past two months, we have increased our
production rate from 5 tons to 12.5 tons per week.
"By the end of June, we expect to be producing more than 25 tons
a week. In July, we plan to double this 100-tons-per-month output
and will expect to increase it again in August to 400 tons, then
800 tons in September, and so on. Based on our discussions with
potential customers across North America, we are confident that the
demand for these levels of production is there and that can sell
all we can produce," he continued.
"Our increasing output has enabled Forterra to establish a
current inventory level of 325 tons of soil enrichment product,
compared with just 30 tons at the end 2007. This planned increase
is strategically important as we have just entered the season when
demand for such products is greatest and it enables us to pursue
large customers with high-volume requirements who will only
consider buying from producers that they know can meet their
requirements," Mr. Denyes said.
"Based on current pricing, at the levels of production and sales
achieved as of today, we will generate an annualized sale of about
$1 million," said Don Green, the company's Chairman and Chief
Executive Officer.
"We are now just beginning to realize the fruits of our research
and development, and manufacturing efforts. The success that we now
are achieving with our breeding program for the red wiggler worms
that produce the worm castings for our products means that we have
the ability to increase our production levels virtually
exponentially and clearly have positioned Forterra as leader in the
rapidly growing market for organic soil enhancement products."
Strawberry Grower Realizes $100,000 Return on $6,000
Investment
Forterra also reported that preliminary results of a trial done
in connection with a university and a hydroponic strawberry grower
in southern Ontario showed an increase in yield of strawberries per
plant of approximately 50 percent. The size of the berries and the
amount also increased.
"The grower is overwhelmed with this result," Mr. Green
reported. "He invested $6,000 in worm castings and realized a
$100,000 return in product. We are awaiting the final results from
the university and will report on them when they are received.
Forterra's 100% organic products demonstrate superior
performance in controlled scientific research. In tests conducted
at the University of Guelph, Forterra products showed strong
results across a variety of applications.
Forterra's quality products, which are produced entirely by
organic means, are being increasingly recognized by premier organic
producers in North America. Scientific studies have shown several
types of pests and diseases being suppressed naturally using
Forterra products, thereby reducing or eliminating the need for
pesticides. Forterra's products contain the required nutrients and
micro-nutrients and are supplemented with very high populations of
beneficial micro-organisms that boost soil life, thereby making
soil self-sufficient to convert the total nutrients to a form of
nutrients available to plants.
Forterra's organic product application results in healthy root
systems, improved moisture retention, and slow nutrient release
over time to meet the plant or turf need. These benefits can be
achieved without the fear of burning plants or turf or compromising
on yield, and play a valuable role in preserving the
environment.
About Forterra Environmental Corp.
Forterra manufactures and markets powerful and environmentally
friendly soil enhancers, using worm castings, which boost fertility
while restoring the soil with organic matter for sustainable,
longer-term benefits, including stronger root growth, and drought
and pest resistance. Forterra products contain only organic
material. They are ideal for golf courses, sports fields, lawn
care, parks, nurseries, orchards, and vineyards. Forterra produces
commercial quantities of premium worm castings year round at its
Toronto plant. Essentially, Forterra uses red wriggler worms to
convert organic waste into vermicompost or worm castings. Worm
castings contain micronutrients, which are required for healthy
plant development. Worm castings also contain microbes, which
increase the rate at which plants take up available macronutrients
and micronutrients.
Forward-Looking Statements
This news release contains forward-looking statements based on
current expectations. These forward-looking statements entail
various risks and uncertainties that could cause actual results to
differ materially from those reflected in these forward-looking
statements. Such statements are based on current expectations, are
subject to a number of uncertainties and risks, and actual results
may differ materially from those contained in such statements.
These uncertainties and risks include, but are not limited to,
availability of resources, competitive pressures, changes in market
activity, and regulatory requirements. Risks and uncertainties
about Forterra's business are more fully discussed in the company's
disclosure materials, including its annual information form and
MD&A, filed with the securities regulatory authorities in
Canada. Forterra assumes no obligation to update any
forward-looking statement or to update the reasons why actual
results could differ from such statements.
The TSX Venture Exchange Inc. has neither approved nor
disapproved of the contents of this news release.
Contacts: Forterra Environmental Corp. Don Green Chairman and
Chief Executive Officer (905) 738-1365 or (905) 634-8647 Email:
dgreen@forterra.com Website: www.forterra.com
Forterra Environmental Corp. (TSXV:FTE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Forterra Environmental Corp. (TSXV:FTE)
Historical Stock Chart
From Jul 2023 to Jul 2024
