Forterra Environmental Launches New Worm Tea Organic Soil Enrichment Product
June 09 2008 - 8:38AM
Marketwired
TORONTO, ONTARIO , an emerging leader in the production and sale
of premium organic soil enrichment products based on worm castings,
today announced that it is launching the marketing and sales of
Forterra Worm Castings Tea, focusing initially on markets in
Ontario.
"We have developed a new system that can deliver Forterra Worm
Castings Tea to users in an aerated container enabling them to
realize the maximum benefits when deploying this soil enrichment
product as a spray or soil drench," said Richard Denyes, President
and Chief Operating Officer. "We expect this will make the worm
castings tea product attractive to landscapers, golf courses,
householders, and other users seeking entirely organic fertilizer
solutions.
"The launching of this product in Ontario is particularly timely
both because we are entering the peak season for the use of
fertilizers and because of the pesticide ban that the province and
municipalities are enforcing. We are working with commercial
customers to show them how they can effectively apply the worm
castings tea product and also expect to announce within weeks
contracts with selected companies to sell this product in Ontario,"
Mr. Denyes added.
"We are establishing commercial and retail pricing for Forterra
Worm Castings Tea that we believe will prove attractive to
contractors, other commercial users, and householders," said Don
Green, the company's Chairman and Chief Executive Officer.
"While price competitive, Forterra Worm Castings Tea also will
yield an attractive profit margin for our company, significantly
higher than we realize from our solid soil enrichment Worm Castings
product. Current pricing models will give us a revenue of $96.00 a
pound, which is much higher than the $0.55 -0.60 per pound
currently for worm castings," Mr. Green said.
Scientific studies have confirmed that worm castings contain
beneficial soil microorganisms. When brewed in highly oxygenated
water, the soluble micronutrients and beneficial organic compounds
are extracted, producing the worm castings tea. The tea must be
used within three days of production for maximum effectiveness.
Benefits and uses of worm castings tea include:
- yield increases, resistance to diseases and insect pests,
improved drought tolerance, and enhanced crop quality;
- for setting blossoms, blooms or development of fruit and
vegetables;
- quick recovery from lack of moisture, damage from wind, and
poor foliage color;
- enrichment of soil structure (when used as a drench) and
increased nutrient source when roots cannot provide enough
nutrients for maximum yields;
- better use of water and soil to deliver needed nutrients and
nourishment to plants throughout their life cycle;
- absolutely no toxins, pesticides or synthetic chemicals to
harm plants or contaminate the water supply or environment in any
way;
- safe around children, animals, and homes; and
- virtually odorless.
Forterra recently 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. By the end
of June, the company expects to be producing more than 25 tons of
worm castings per week. In July, it plans to double this
100-tons-per-month output and expect to increase it again in August
to 400 tons, then 800 tons in September, and so on.
The success that Forterra now is achieving with its breeding
program for the red wiggler worms that produce the worm castings
for its products provides the company with the ability to increase
its production levels virtually exponentially. Forterra believes
that it now is positioned as leader in the rapidly growing market
for organic soil enhancement products.
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. Further information is available on the
company's website at www.forterra.com.
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 Sep 2024 to Oct 2024
Forterra Environmental Corp. (TSXV:FTE)
Historical Stock Chart
From Oct 2023 to Oct 2024