Organic Potash Corporation Announces Joint Venture with EDF
09 1월 2020 - 6:03AM
Organic Potash Corporation (“OPC” or the “Corporation”) OPC is
pleased to announce a significant event, with respect to its
operations in West Africa.
Further to its press release of December 21,
2018, OPC together with NCV, its joint-venture partner in Côte
d’Ivoire have executed on December 30, 2019, a joint-development
agreement (“JDA”) with Electricité de France S.A. (“EDF”). EDF is a
global leader in low-carbon energy production.
The JDA enables the completion of detailed
technical studies and negotiation of financial terms over the next
year, leading to the launch of a first industrial plant using cocoa
pod husks to annually produce electricity (1.8MW) and 2,500 tonnes
of ash which will be transformed into a mix of food grade potassium
carbonate crystals (at 99% purity), potassium carbonate solution
and organic sourced fertilisers using OPC’s licenced technology. As
a term of the JDA, OPC will be contributing technical
expertise.
Following the potential successful launch of
this first integrated energy/potash plant, the project partners
intend to install similar modular units with an objective to
produce an annual minimum of 10MW of electricity and process over
12,500 tonnes of cocoa husk ash in Côte d’Ivoire. Africa supplies
approximately 75% of global cocoa. Ivory Coast alone produces 43%.
This represents a unique opportunity for major growth prospects for
OPC and its technology.
From a socio-economic impact perspective, the
project is expected to increase and diversify the revenues of cocoa
farmers, especially women, provide electricity to remote rural
regions through mini-grids, reduce imports of potassium carbonate
for local chocolate manufacturers, provide organically sourced
fertiliser to farmers and reduce the impact of pests and diseases
on cocoa farmers as a results of cocoa husks previously abandoned
on farms.
OPC further announces the closing of its Private
Placement announced in its press release of November 11, 2019 as at
December 29, 2019.
Mrs Heather Welner, President and CEO of OPC
stated: “The industrial application of OPC’s licenced technology in
an integrated energy/potash project in partnership with a global
electricity producer is the culmination of years of R&D and the
successor to our previous successful completion of the pilot plant
in Ghana. We strongly believe that this commercially robust
development plan in Côte d’Ivoire will now serve as a model
implementation in other cocoa producing countries and that will
enable OPC to continue to grow and enhance shareholder value.”
About Organic Potash
Corporation
Through its proprietary licensed, patented
technology, Organic Potash Corporation produces 99%+ pure potassium
carbonate (potash) from the ash of agricultural waste, in
particular, cocoa husks. The purity of the company’s potassium
carbonate will allow Organic Potash Corporation to target multiple
industries including the Agricultural and Pharmaceutical industry.
Organic Potash Corporation is headquartered in Toronto, Ontario and
its shares trade on the Canadian National Stock Exchange under the
trading symbol “OPC”. For further information, please visit the
company website at www.organicpotash.com.
For further information please
contact:Mrs. Heather WelnerPresident and CEOOrganic Potash
CorporationTel: (905) 452-8060E-mail:
heather.welner@organicpotash.comWeb: www.organicpotash.com
Forward-Looking
StatementsInformation set forth in this news release may
involve forward-looking statements under applicable securities
laws. The forward-looking statements contained herein are expressly
qualified in their entirety by this cautionary statement. The
forward-looking statements included in this document are made as of
the date of this document and the Corporation disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as expressly required by applicable securities
legislation. Although Management believes that the expectations
represented in such forward-looking statements are reasonable,
there can be no assurance that such expectations will prove to be
correct. This news release does not constitute an offer to sell or
solicitation of an offer to buy any of the securities described
herein and accordingly undue reliance should not be put on such.
Neither CNSX Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the CNSX) accepts responsibility
for the adequacy or accuracy of this release.
Organic Potash (CSE:OPC)
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