Verde AgriTech, Belo Horizonte, Brazil, on Aug. 31 reported that its second production plant, Plant 2, has been commissioned and is now ramping production up to 1.2 million mt/y of multi-nutrient potassium product K Forte®, sold internationally as Super Greensand®.
“Four years ago almost to the day, we were commissioning Verde’s Plant 1, which has since then run practically continuously in order to meet the growing demand for Verde’s products,” said Cristiano Veloso, Verde’s Founder and CEO. “It is therefore timely to rev-up our Plant 2 at a moment when Brazilian potash demands peak and our products have established a track record of delivering optimal agricultural results, because the combined total capacity of Plants 1 and 2 will establish Verde as Brazil’s largest potash producer.”
Plant 1 operates with a capacity of 600,000 mt/y. With Plant 2’s additional capacity of 1.2 million mt/y after ramp up, Verde says its overall production capacity will be 2 million mt/y. Plant 2 is already undergoing expansion to achieve 2.4 million mt/y of capacity later in third-quarter 2022. The company says this addition will take overall capacity to 3 million mt/y.
Verde’s 2022 guidance provides for sales of 1 million mt, with revenue of C$109.09 million, EBITDA of C$49.06 million, and net earnings per share of C$0.87. The 2023 guidance provides for sales of 2 million mt.