CSE New Listing – EarthRenew Inc. Commences Trading on the Canadian Securities Exchange
Vancouver, British Columbia–(Newsfile Corp. – January 14, 2019) – EarthRenew Inc. (CSE: ERTH) is one of the latest new listings on the Canadian Securities Exchange, following its reverse take-over of Valencia Ventures Inc., which previously traded on the TSX Venture Exchange. The company is a low-cost sustainable power-generation company with a patented production process that converts livestock waste to nutrient-rich, slow-release pelleted organic fertilizer.
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EarthRenew is currently completing testing to restart sustainable electricity production at its Strathmore, Alberta plant, which is located on a 25,000 head cattle feedlot. As currently configured, the Strathmore Plant is capable of producing up to four MegaWatts per hour of low-cost electricity powered by a natural gas fired industrial size Rolls Royce turbine.
EarthRenew intends to commence electricity production on or about the end of February 2019. Electricity produced at the Strathmore Plant can be sold to the municipal electricity grid. The company is also evaluating electricity distribution options that will maximize revenue for its business including selling electricity to cryptocurrency mining operations which can collocate at the Strathmore Plant.
Following engineering upgrades to the Strathmore Plant, EarthRenew intends to use about 1.5 megawatts of the 4 megawatts generated by the Strathmore Plant to produce pelleted organic fertilizers made from cattle manure waste. EarthRenew has executed an off-take agreement with Sun Country Organic whereby substantially all the organic fertilizer produced at the Strathmore Plant will be purchased by Sun Country Organics for wholesale and retail distribution in Canada and the US midwest.
During the first phase of the re-start of the Strathmore Plant, the company intends to use the electricity it generates to power a cryptocurrency mining facility. Based on the energy use specifications of the mining rigs, EarthRenew expects to have available about 2.5 megawatts per hour of the currently installed electricity generation capacity of the Strathmore Plant to power the cryptocurrency mining operations.
The company recently closed a non-brokered private placement raising gross proceeds of $1 million from the sale of approximately 4.5 million shares priced at #0.22 per share. A portion of the proceeds from the private placement are intended to be used to retrofit a portion of the Strathmore Plant as a cryptocurrency mining facility.
The company is headed by Keith Driver, President and CEO, who has served in leadership positions in several environmental technology companies over the past 15 years. His experience includes senior marketing, technical and management roles, focused on emerging products or technologies. Many of these opportunities have focused on processing organic feedstocks and marketing the end-products, such as compost and biochar.
For more information, please contact Keith Driver, President and CEO, at 403-860-8623 or email firstname.lastname@example.org.
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