Completion of the second facility is on track and scheduled for Q3 2022 is expected to generate, beginning in 2023, an annual revenue rate of US$106,000,000 (CA$145,000,000), based on 12,000 tonnes organic waste treatment metrics or 18.5% of environmental compliance approval capacity in the first 12 months of treatment
Increases capacity to market and distribute proprietary products to increase revenue and cash flow in a $200 billion fertilizer market
Current Fertilizer Market Disruptions Further Position the Company for Expansion in North America
TORONTO, ON/ACCESSWIRE/March 29, 2022 /SusGlobal Energy Corp. (“SUSGLOBAL” or the “Company”) (OTCQB: SNRG), the developer of SusGro™, an award-winning revolutionary pathogen-free organic liquid fertilizer, today announced that its wholly-owned subsidiary, SusGlobal Energy Hamilton Ltd. (“Sus Global Hamilton“), continues the development of its 51,535 square foot facility on 3.26 acres (the “Goods“) located at 520 Nash Road North, Hamilton, Ontario, which includes an Environmental Compliance Approval (“ECA“) to transform up to 65,884 metric tons per year of organic waste into regenerative products as part of the company’s circular economy model and ongoing climate change initiatives.
SusGlobal Hamilton and its architects and construction managers have progressed with the first phase of the facility which includes process administration offices, processing and bottling plant, changeover building, distribution sections and facility storage.
The facility was designed to produce, distribute and warehouse the company’s SusGro™ organic liquid fertilizer and other proprietary products which are supplied under private label and sold through big box retailers, lawn suppliers and garden and for end use in the wine, cannabis and agricultural industries. The Company estimates that the property will be ready to produce and store products by September 30, 2022.
With the addition of 11,000 square feet of office space and R&D labs, the Hamilton facility will also house the continued development of SUSGLOBAL’s proprietary formulations, branded liquid and dry organic fertilizers and aquaculture products. that address environmental issues such as greenhouse gas emissions, soil health, and drought caused in part by agriculture that increasingly affect the ability to achieve the yields needed to feed a global population growing.
Synthetic chemicals are widely used to increase yields and prevent crop losses from pests and fungi. However, overuse of these chemicals harms soil health and the breeding of resistant pests, which limits long-term yield potential. SUSGLOBAL develops technologies to replace existing practices with more environmentally friendly options.
The Hamilton plant will also house and distribute products from the recently announced acquisition, a producer of soil media, plant nutrients and amendments, which is scheduled to close in the second quarter of 2022. This acquisition is that of a company accredited by the International Organization for Standardization (“ISO”). which sources only the best inputs in the formulation of its line of quality products which are sold to customers across Canada and the United States. We have signed a non-binding letter of intent with the ISO accredited company. Acceleration of production and sales of our liquid organic fertilizer and other proprietary products through our Hamilton facility will be dependent on the closing of this acquisition.
“We are pleased to have commenced construction of our second facility with a valuable and strategically located Environmental Compliance Approval License to provide a contingency plan for our municipal customers who already use our Bellville facility where we collect organic waste and produce compost fertilizers. Equally important is the proximity of the facility to agricultural customers who will purchase our outgoing products, including liquid and dry organic fertilizers and additional product lines carried by our acquisitions, which become wholly owned subsidiaries of SUSGLOBAL. and meeting demand for all existing and future product lines we have planned, without having to depend on a supply chain, we believe allows us to increase revenue and cash flow through the selling fertilizer, tipping fees for municipal organic waste collection, and monetizing carbon credits as Circular Economy Leaders®,” said Marc Hazout, President and CEO of SusGlobal.
About SusGlobal Energy Corp.
SusGlobal Energy Corp., the developer of SusGro™, an award-winning and breakthrough pathogen-free organic liquid fertilizer, is an industrial, environmental and agricultural biotechnology company focused on acquiring, developing and monetizing a portfolio of proprietary technologies in the field of waste-to-energy and regenerative product applications on a global scale. Management’s goal is to make SusGlobal a leading sustainable supplier of waste-to-energy and regenerative products and a trusted brand for the fertilizer, soil and aquaculture market, as LEADERS IN THE CIRCULAR ECONOMY ®. For more information, please visit the company’s website at: www.susglobalenergy.com
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the objectives of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”. , “estimates”, “projects”, “goals”, “potential”, “goal”, “objective”, “forward-looking” and similar expressions, or that events or conditions “will”, “should”, “could”, “may”, “could” or “should” occur.
Although we believe that the expectations reflected in these forward-looking statements such as (i) beginning in 2023, an annual revenue rate of US$106,000,000 (C$145,000,000), based on 12,000 metric tons of organic waste or 18.5% environmental compliance Approval capacity within the first 12 months of processing, (ii) increased property capacity allowing us to grow and meet demand for all product lines existing and future we have planned, which, in turn, will allow us to increase revenues and cash flow and (iii) our ability to transform up to 65,884 metric tons per year of organic waste into regenerative products are reasonable, these statements relate to future events or our future operating or financial performance and involve known and unknown risks, uncertainties and other factors that may so that our actual results, performance or achievements are materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The Company cautions investors that the Company’s forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in the forward-looking statements due to a variety of factors, including, but not limited to: lack of sufficient financial resources; changes in market conditions, currency and our stock price; the Company’s ability to complete acquisitions pursuant to non-binding letters of intent; the ability of the Company to obtain all permits, approvals, consents or authorizations necessary for its activities; the Company’s ability to produce energy, biogas, compost or liquid organic fertilizer from its properties successfully or profitably; the Company’s ability to pursue its projected growth or be fully able to implement its business strategies; and other risk factors described in the Company’s filings with the United States Securities and Exchange Commission, which may be viewed at www.sec.gov.
Sus Global Energy Corp.
Marc Hazout, CEO
(416) 223-8500 or toll free: 1-866-512-7374
THE SOURCE: Sus Global Energy Corp.
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