International Zeolite and CoTec Holdings Announce Strategic Alliance - CoTec Holdings Making Anchor Investment to Accelerate Commercialization of International Zeolite’s Revolutionary Proprietary NEREA(R) Fertilizer Technology
VANCOUVER, BC / ACCESSWIRE / November 22, 2022 / International Zeolite Corp. ("IZ") (TSX.V:IZ) (OTCQB:IZCFF) (FSE:ZEON) and CoTec Holdings Corp. (TSXV:CTH) ("CoTec") are pleased to announce that CoTec has agreed to make a $2 million strategic …
VANCOUVER, BC / ACCESSWIRE / November 22, 2022 / International Zeolite Corp. ("IZ") (TSX.V:IZ) (OTCQB:IZCFF) (FSE:ZEON) and CoTec Holdings Corp. (TSXV:CTH) ("CoTec") are pleased to announce that CoTec has agreed to make a $2 million strategic investment in IZ to support its go-to-market activities in the agricultural and green tech segments.
CoTec and IZ share similar visions and objectives and are focused on creating a portfolio of green disruptive technologies that are high-margin, eco-friendly and deliver reductions in carbon emissions. The investment from CoTec is expected to fast track IZ's ability to move rapidly to full commercialization, marketing and sales capabilities for its disruptive agricultural products and solutions. The funding will support the construction of IZ's first NEREA® production facility to be in Ontario, Canada with an expected completion date of March 2023. In addition to its financial investment, CoTec will support IZ through the involvement of its management team, who collectively have extensive global reach and expertise in green technologies.
"We are excited to partner with IZ and support their efforts to commercialize its proprietary NEREA® technology," commented Mr. Julian Treger, CEO of CoTec. "Fertilizer is a major contributor to global CO2 emissions and NEREA® is exactly the type of breakthrough the agricultural industry needs to reduce its carbon footprint - independent studies have shown that it could improve the efficacy of fertilizer by a factor of up to eight and reduce plant and crop growth cycles by as much as twenty-five per cent. Additionally, at a time of conflict in Ukraine, NEREA® could significantly reduce the Western world's fertilizer needs and its exposure to higher risk jurisdictions for much needed supply. Our investment will give us a substantial interest in IZ, and we intend to work closely with the IZ management team to help them aggressively roll out this exciting technology."
"We are very pleased to partner with CoTec and are excited to commence the commercialization of NEREA® products" said Ray Paquette, IZ CEO. "Once our products are established in Canada, we will roll it out to the other jurisdictions where we have secured exclusivity."
NEREA® is IZ's proprietary on demand grow system designed for all agricultural sectors: nurseries, greenhouses, horticultural growers, and outdoor growers. It imbeds into zeolite particles all the macronutrients and micronutrients needed by plants to grow healthy and effectively. It is a demand driven system that allows plants to receive nutrients based on their need and at the time the plant needs it. Independent trials and validation studies show that NEREA® decreases crop time resulting in additional crops for growers thus increasing grower ROI, reduces the overall requirements for fertilizer by up to 80% resulting in much lower input costs for growers, and reduces greenhouse gases significantly through the reduction of fertilizer consumption. IZ has secured the rights to manufacture, market and sell NEREA® in Canada and the United States for a period of 20 years from approval of the NEREA® intellectual property in the relevant jurisdictions and global exclusivity arrangements are pending.