- Verde (NPK) has begun work to increase Plant 2’s production to 2.4 million tonnes per year (Mtpy)
- Production at the Brazilian facility will be doubled from 1.2 Mtpy of Verde’s K Forte product, which is sold internationally as Super Greensand
- By the end of 2022, the company plans to become Brazil’s largest potash producer by capacity
- Verde is a fully-integrated agricultural technology company and producer of potash fertilizers
- Verde AgriTech (NPK) opened with a gain of 12.83 per cent, trading at $7.30 per share
Verde (NPK) has begun work to increase Plant 2’s production to 2.4 Mtpy.
Production at the Brazilian facility will be doubled from its current 1.2 Mtpy of Verde’s multi-nutrient potassium product, K Forte, which is sold internationally as Super Greensand.
Plant 2 was commissioned on August 31, 2022, and achieved its nameplate capacity of 1.2 Mtpy on October 26, 2022.
“We look forward to the positive financial benefits that the additional capacity will bring to Verde’s bottom line,” stated Cristiano Veloso, Verde’s Founder and CEO. “With every milestone, we become a more essential source to mitigate Brazil’s dependency on imported potash.”
Verde’s Plant 1 operates with a capacity of 0.6 Mtpy.
Once Plant 2 achieves 2.4 Mtpy, the company’s overall production capacity will be 3 Mtpy.
By the end of 2022, Verde plans to become Brazil’s largest potash producer by capacity.
Verde is a fully-integrated agricultural technology company and producer of potash fertilizers. It has a combined measured and indicated mineral resource of 1.47 billion tonnes at 9.28 per cent K2O and an inferred mineral resource of 1.85 billion tonnes at 8.60 per cent K2O.
Verde AgriTech (NPK) opened with a gain of 12.83 per cent, trading at $7.30 per share.