Nutrien Ltd. and CoteX Technologies, an ag tech startup based in Halifax, announced on Nov. 14 that they have entered into a Memorandum of Understanding (MOU) to explore the joint commercialization of a coating technology to produce an affordable, environmentally friendly nitrogen fertilizer solution for large acreage crops in the North American market.
CoteX has already developed a biodegradable coating that allows for controlled-release fertilizer (CRF) and eliminates potential residual material.
“This MOU is a big step forward for the global agriculture industry,” said Santosh Yadav, CEO of CoteX Technologies. “We are thrilled to partner with Nutrien to explore the application of our product and the impact for the market.”
“Our coating process is lower cost and more versatile than liquid coating and it’s environmentally friendly,” he added. “Adoption of our technology helps minimize the loss of nitrogen into the environment.”
“We are excited to begin this journey with CoteX Technologies,” said Trevor Williams, Nutrien EVP and President of Nitrogen & Phosphates. “This innovation has the potential to substantially increase efficiency in nitrogen application which will help farmers increase yield potential in a sustainable way.”
CoteX has operations in Nova Scotia and Gujarat, India, and said it is supported by a robust provincial and national startup ecosystem. The company is a part of the Ascend Bio program of Invest Nova Scotia, and supported by the Nova Scotia Innovation Hub, Atlantic Canada Opportunities Agency (ACOA), Sustainable Development Technology Canada (SDTC), and BioEnterprise Canada.