Verde AgriTech Ltd (TSX: “
NPK”)
("
Verde” or the “
Company”) is
pleased to announce that it has successfully advanced to Phase 2 of
the largest incentive prize in history, XPRIZE "$100M Carbon
Removal" Challenge (the “
Challenge”). This
challenge seeks innovative solutions to extract and sequester
carbon dioxide from the atmosphere, fighting climate change and
rebalancing Earth’s carbon cycle.
Verde has delivered an ambitious proposal to
develop one of the world’s largest carbon capture projects through
Enhanced Rock Weathering (“ERW”) - a natural
weathering process that involves the sequestration of carbon
dioxide (“CO2”) from the
atmosphere by crushing and spreading reactive rock material on
land.
Verde has developed partnerships with British
universities, leaders in Soil Science1, that have proven Verde’s K
Forte® and Super Greensand® (“Products”) have the
potential to capture CO2 from the
atmosphere through ERW. As detailed by an independent study
conducted at Newcastle University under the leadership of Prof.
David Manning, PhD, a renowned soil scientist, the carbon dioxide
capture properties of the Products are estimated at 120kg per
tonne.
The Company has combined measured and indicated
mineral resources of 1.47 billion tonnes at 9.28% K2O and an
inferred mineral resource of 1.85 billion tonnes at 8.60% K2O,
compliant with the Canadian National Instrument 43-101.2 Its total
3.32 billion tonnes of resources put Verde in a unique position of
potential scalability to sequester up to 0.40 gigatons of CO2.
XPRIZE is known for its global competitions that
drive radical breakthroughs for the benefit of humanity. Backed by
Elon Musk and the Musk Foundation, XPRIZE launched the Challenge to
inspire and help scale efficient solutions to combat climate
change, restoring the Earth's carbon cycle. The Challenge seeks
innovative methods to capture carbon dioxide directly from the
atmosphere or ocean and lock it away permanently in an
environmentally benign way.
The competition has drawn attention from around
the world, with numerous companies vying for the opportunity to
showcase their carbon removal solutions. Verde's selection to Phase
2 stands as a testament to its innovative approach, commitment to
sustainability and potential to contribute meaningfully to a more
sustainable future through its carbon capture technology.
“We are thrilled to be recognized by XPRIZE for
our pioneering efforts in carbon removal. It is not just a
recognition of our diligent efforts, but also emphasizes the
transformative potential of our technology to create a profoundly
positive effect on our planet. We have an established annual
production capacity of 3.00 million tonnes, and with this, Verde
has the potential to capture up to 0.36 million tonnes of CO2
annually. We are confident that Verde is an outstanding candidate
within the XPRIZE Carbon Removal Challenge, not only to our
innovative solution, but for the potential of massive scalability”,
stated Cristiano Veloso, Verde’s Founder and CEO.
About XPRIZE Carbon Removal
XPRIZE Carbon Removal is aimed at tackling the
biggest threat facing humanity - fighting climate change and
rebalancing Earth’s carbon cycle. Funded by Elon Musk and the Musk
Foundation, this $100M competition is the largest incentive prize
in history.
The climate math is becoming clear that we will
need gigaton-scale carbon removal in the coming decades to avoid
the worst effects of climate change. The International Panel on
Climate Change (IPCC) estimates the need at approximately 10
gigatonnes of net CO2 removal per year by the year 2050 in order to
keep global temperature rise under 1.5 or 2C. As governments,
companies, investors, and entrepreneurs make plans to meet this
challenge, it is clear that we will need a range of carbon removal
solutions to be proven through demonstration and deployment to
complement work that is already underway. If humanity continues on
a business-as-usual path, the global average temperature could
increase 6˚(C) by the year 2100.
For further information see:
https://www.xprize.org/prizes/carbonremoval
About Verde AgriTech
Verde is an agricultural technology company that
produces potash fertilizers. Its purpose is to improve the health
of all people and the planet. Rooting our solutions in nature, it
makes agriculture healthier, more productive, and profitable.
Verde is a fully integrated Company: it mines
and processes its main feedstock from its 100% owned mineral
properties, then sells and distributes the Product.
Verde’s focus on research and development has
resulted in one patent and eight patents pending. Among its
proprietary technologies are Cambridge Tech, 3D Alliance, MicroS
Technology, N Keeper, and Bio Revolution.3 Currently, the Company
is fully licensed to produce up to 2.8 million tonnes per year of
its multinutrient potassium fertilizers K Forte® and BAKS®, sold
internationally as Super Greensand®. In 2022, it became Brazil's
largest potash producer by capacity.4 Verde has a combined measured
and indicated mineral resource of 1.47 billion tonnes at 9.28% K2O
and an inferred mineral resource of 1.85 billion tonnes at 8.60%
K2O (using a 7.5% K2O cut-off grade).5 This amounts to 295.70
million tonnes of potash in K2O. For context, in 2021 Brazil’s
total consumption of potash in K2O was 6.57 million6.
Brazil ranks second in global potash demand and
is its single largest importer, currently depending on external
sources for over 97% of its potash needs. In 2022, potash accounted
for approximately 3% of all Brazilian imports by dollar value.7
Corporate Presentation
For further information on the Company, please
view shareholders’ deck:
https://verde.docsend.com/view/mjxisb9by2xbt5y2
Investors Newsletter
Subscribe to receive the Company’s updates at:
https://verde.docsend.com/view/e9f4zncag32eiric
The last edition of the newsletter can be
accessed at: https://bit.ly/InvestorNL_August2023
Cautionary Language and Forward-Looking
Statements
All Mineral Reserve and Mineral Resources
estimates reported by the Company were estimated in accordance with
the Canadian National Instrument 43-101 and the Canadian Institute
of Mining, Metallurgy, and Petroleum Definition Standards (May 10,
2014). These standards differ significantly from the requirements
of the U.S. Securities and Exchange Commission. Mineral Resources
which are not Mineral Reserves do not have demonstrated economic
viability.
This document contains "forward-looking
information" within the meaning of Canadian securities legislation
and "forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995. This
information and these statements, referred to herein as
"forward-looking statements" are made as of the date of this
document. Forward-looking statements relate to future events or
future performance and reflect current estimates, predictions,
expectations or beliefs regarding future events and include, but
are not limited to, statements with respect to:
- the estimated amount and grade of Mineral Resources and Mineral
Reserves;
- the estimated amount of CO2 removal per tonne of rock;
- the PFS representing a viable development option for the
Project;
- estimates of the capital costs of constructing mine facilities
and bringing a mine into production, of sustaining capital and the
duration of financing payback periods;
- the estimated amount of future production, both produced and
sold;
- timing of disclosure for the PFS and recommendations from the
Special Committee;
- the Company’s competitive position in Brazil and demand for
potash; and,
- estimates of operating costs and total costs, net cash flow,
net present value and economic returns from an operating mine.
Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives or future events or performance
(often, but not always, using words or phrases such as "expects",
"anticipates", "plans", "projects", "estimates", "envisages",
"assumes", "intends", "strategy", "goals", "objectives" or
variations thereof or stating that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur
or be achieved, or the negative of any of these terms and similar
expressions) are not statements of historical fact and may be
forward-looking statements.
All forward-looking statements are based on
Verde's or its consultants' current beliefs as well as various
assumptions made by them and information currently available to
them. The most significant assumptions are set forth above, but
generally these assumptions include, but are not limited to:
- the presence of and continuity of resources and reserves at the
Project at estimated grades;
- the estimation of CO2 removal based on the chemical and
mineralogical composition of assumed resources and reserves;
- the geotechnical and metallurgical characteristics of rock
conforming to sampled results; including the quantities of water
and the quality of the water that must be diverted or treated
during mining operations;
- the capacities and durability of various machinery and
equipment;
- the availability of personnel, machinery and equipment at
estimated prices and within the estimated delivery times;
- currency exchange rates;
- Super Greensand® and K Forte® sales prices, market size and
exchange rate assumed;
- appropriate discount rates applied to the cash flows in the
economic analysis;
- tax rates and royalty rates applicable to the proposed mining
operation;
- the availability of acceptable financing under assumed
structure and costs;
- anticipated mining losses and dilution;
- reasonable contingency requirements;
- success in realizing proposed operations;
- receipt of permits and other regulatory approvals on acceptable
terms; and
- the fulfilment of environmental assessment commitments and
arrangements with local communities.
Although management considers these assumptions
to be reasonable based on information currently available to it,
they may prove to be incorrect. Many forward-looking statements are
made assuming the correctness of other forward looking statements,
such as statements of net present value and internal rates of
return, which are based on most of the other forward-looking
statements and assumptions herein. The cost information is also
prepared using current values, but the time for incurring the costs
will be in the future and it is assumed costs will remain stable
over the relevant period.
By their very nature, forward-looking statements
involve inherent risks and uncertainties, both general and
specific, and risks exist that estimates, forecasts, projections
and other forward-looking statements will not be achieved or that
assumptions do not reflect future experience. We caution readers
not to place undue reliance on these forward-looking statements as
a number of important factors could cause the actual outcomes to
differ materially from the beliefs, plans, objectives,
expectations, anticipations, estimates assumptions and intentions
expressed in such forward-looking statements. These risk factors
may be generally stated as the risk that the assumptions and
estimates expressed above do not occur as forecast, but
specifically include, without limitation: risks relating to
variations in the mineral content within the material identified as
Mineral Resources and Mineral Reserves from that predicted;
variations in rates of recovery and extraction; the geotechnical
characteristics of the rock mined or through which infrastructure
is built differing from that predicted, the quantity of water that
will need to be diverted or treated during mining operations being
different from what is expected to be encountered during mining
operations or post closure, or the rate of flow of the water being
different; developments in world metals markets; risks relating to
fluctuations in the Brazilian Real relative to the Canadian dollar;
increases in the estimated capital and operating costs or
unanticipated costs; difficulties attracting the necessary work
force; increases in financing costs or adverse changes to the terms
of available financing, if any; tax rates or royalties being
greater than assumed; changes in development or mining plans due to
changes in logistical, technical or other factors; changes in
project parameters as plans continue to be refined; risks relating
to receipt of regulatory approvals; delays in stakeholder
negotiations; changes in regulations applying to the development,
operation, and closure of mining operations from what currently
exists; the effects of competition in the markets in which Verde
operates; operational and infrastructure risks and the additional
risks described in Verde's Annual Information Form filed with SEDAR
in Canada (available at www.sedar.com) for the year ended December
31, 2021. Verde cautions that the foregoing list of factors that
may affect future results is not exhaustive.
When relying on our forward-looking statements
to make decisions with respect to Verde, investors and others
should carefully consider the foregoing factors and other
uncertainties and potential events. Verde does not undertake to
update any forward-looking statement, whether written or oral, that
may be made from time to time by Verde or on our behalf, except as
required by law.
For additional information please contact:
Lucas Brown, Vice-President of
Corporate Development
Tel: +55 (31) 3245 0205;
Email: investor@verde.ag
www.verde.ag | www.investor.verde.ag
1 See “Verde’s Products Remove Carbon Dioxide
From the Air” and “Verde’s Products Remove Carbon Dioxide from Air
in Mere Months of Application”.
2 Resource Estimate Effective Date: May 12,
2022. Responsible QP: Bradley Ackroyd, B. Sc (Geo), MAIG. Cutoff
Content: 7.5% K2O. For further details see the Pre-Feasibility
Study:
investor.verde.ag/wp-content/uploads/2022/05/NI-43-101-Pre-Feasibility-Technical-Report-for-the-Cerrado-Verde-Project.pdf
3 Learn more about our technologies:
https://verde.docsend.com/view/yvthnpuv8jx6g4r9
4 See the release at:
https://investor.verde.ag/verde-starts-ramp-up-of-plant-2s-second-stage-to-reach-production-of-2-4mtpy/
5 As per the National Instrument 43-101
Standards of Disclosure for Mineral Projects within Canada (“NI 43
-101”), filed on SEDAR in 2017. See the Pre-Feasibility Study at:
https://investor.verde.ag/wp-content/uploads/2021/01/NI-43-101-Pre-Feasibility-Technical-Report-Cerrado-Verde-Project.pdf
6 Source: Brazilian Fertilizer Mixers
Association (from "Associação Misturadores de Adubo do Brasil", in
Portuguese).
7 Source: Brazilian Comex Stat, available at:
http://comexstat.mdic.gov.br/en/geral
Verde Agritech (TSX:NPK)
過去 株価チャート
から 11 2024 まで 12 2024
Verde Agritech (TSX:NPK)
過去 株価チャート
から 12 2023 まで 12 2024