Int'l Bio-Recovery logs record fertilizer sales
International Bio-Recovery Corp IBR
Shares issued 16,066,094 Jul 8 2002 close $ 0.65
Monday July 8 2002 News Release
Mr. Ben Van Dyk reports
IBR ACHIEVES FERTILIZER SALES SUCCESS
International Bio-Recovery has achieved a milestone in proving out the market for its fertility products. IBR shipped over 600 tonnes of its solid (dry) fertilizer this spring, in sales to large-scale commercial growers in British Columbia and the United States. This represents more than a tenfold increase from last year's sales, and resulted in selling out all of IBR's warehoused stock, as well as the next few months production.
This milestone confirmed the market demand and excellent pricing wherever growers had witnessed the positive results from previous growth trials. These agribusinesses recognize the significant and immediate potential effect on their bottom lines in terms of decreased spending on chemically produced (N-P-K) fertilizers, along with improvements in yields, crop quality, disease suppression and long-term sustainable soil health and fertility.
In order to assure growers of secure supplies to meet the expected rapid expansion of market demand in North America and elsewhere, IBR has signed agreements with its new China partners for the right of first refusal on the production from the first IBR plants to be constructed in that country.
This market success has developed from a progression of positive growth trials starting with six years of research by agricultural institutes, individual scientists, and IBR's in-house trials. In 2000 IBR started its first commercial trials on B.C. blueberries. This was followed by small-scale commercial trials on potatoes in Wisconsin and Washington State, and limited vegetable trials in Mexico and California. The goals were to determine optimum application rates and methods, effect on yield and crop quality, as well as soil-testing requirements. Results from trials by Singapore University in the past few months have also confirmed IBR's positive expectations with regard to yield and crop resistance to yield-reducing factors.
Although the major focus of the commercial trials was on solid fertilizers, IBR also performed trials on its liquid fertility products to demonstrate the commercial and environmental returns generated by its use. To support the cost-effective in-house production of this product, IBR has budgeted for the installation of a large-scale evaporator in its North Vancouver plant this summer, to significantly increase production of this revenue stream.
IBR is building on its research and market success this year by its commitment to small-scale commercial field trials by doubling its number, and expanding the selection of vegetable, cotton and fodder crops, mainly in California and Arizona. It, with its local scientist and sales representatives, are scientifically tracking the on-farm results of the large-scale use of IBR fertilizers on its sales of this spring.
The company is continuing to investigate the introduction of crop specific inoculums to IBR's fertilizer to further increase the general effectiveness and additional profit generation resulting from the use of IBR's environmentally friendly organic fertility products.
IBR's success in establishing the marketability and pricing of its end products has been instrumental in proving out its financial model to justify the sales, construction and management of IBR plants throughout the world.
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