Global Warming Solutions, Inc. and Carbon Company, LTD. to manufacture and sell HCU (Humate Coated Urea) in New Zealand.
Jacksonville, Florida, Aug. 24, 2020 (GLOBE NEWSWIRE) -- Global Warming Solutions, Inc. (PINKSHEETS: GWSO) is pleased to announce that it has signed an agreement with New Zealand CARBON COMPANY, LTD. (https://humates.co.nz/) to manufacture and sell HCU (Humate Coated Urea) in New Zealand.
For more than 50 years, countries with adequate supplies of high-quality humates have been using the product to improve soil quality and boost plant growth. The volume of trial work and scientific study is huge. Results indicate that humates reduce the amount of fertilizer needed and improves production, both quantity and quality. More production for less cost!
Although humates use is associated with organic fertilizers, its biggest impact is on urea and other traditional applications. More than 90% of world's industrial production of urea is destined for use as a nitrogen-release fertilizer. Urea is usually spread at rates of between 40 and 300 kg/ha (35 to 270 lbs/acre).
The global urea market is currently estimated to be worth $64.1 billion and is estimated to be growing at a CAGR (Compound Annual Growth Rate) of approximately 2 percent until 2022, according to Beroe, Inc., a procurement intelligence firm. The global urea capacity is projected to increase by 17 MT (million tons) to reach 226 MT by 2021, moving towards a potential growing surplus in the long-term.
During the last decade GWSO, under the leadership of Dr. Vladimir Vasilenko created and tested a new Humate Coated Urea formula on local farms in Canada. GWSO and Carbon Company, LTS have agreed that there's a lot of potential, and some significant cost savings for farmers in New Zealand from using HCU instead of traditional urea applications. Urea comprises about half a New Zealand farmer's fertilizer costs. Our product will benefit New Zealand farmers tremendously while opening a market entry opportunity for GWSO.
Under the Agreement, the Parties agreed to open HCU manufacturing facilities to produce HCU and sell this product to local farmers, expanding operations to farmers in other countries like Australia, Russia, Indonesia, Malaysia, China, India, and the USA.
Utilizing the soil to a much greater extent via carbon sequestration is a potential game changer. It's so much more cost-effective than many of the other CO2 reduction measures readily available in today's market. New Zealand Humates & GWSO's HCU project will open new horizons for the global economy.