Verde AgriTech, Belo Horizonte, Brazil, announced on Aug. 16 that it has formed a strategic partnership with Latin American agricultural input distributor Grupo Lavoro, under which Lavoro will distribute Verde’s products in Brazil. Verde’s multi-nutrient potassium products, BAKS® and K Forte®, are sold internationally as Super Greensand®. Verde has launched its Bio Revolution technology, which also allows it to incorporate microorganisms to its products.
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/y.
Verde said it currently operates Plant 1 with a capacity of 600,000 mt/y, with Plant 2 on track for commissioning in third-quarter 2022 with an additional capacity of 2.4 million mt/y. With the addition of Plant 2, Verde said capacity will be over 3 million mt/y and it will be Brazil’s largest potash producer by capacity.
Plant 3’s construction is planned for 2023 and is expected to add 10 million mt/y, which Verde said will allow it to produce up to 16.4% of the current national demand for potash.