Vega Biofuels (OTCPink:VGPR) announced the receipt of the first Purchase Order from the Five Year Agreement previously announced to provide the Company’s Biochar product to legal cannabis growers in Alaska.
As quoted in the press release:
Vega Biofuels recently announced that it had signed a Five Year Agreement to provide the Company’s Biochar to AK Provisions, Inc., located in Anchorage. Biochar is a highly absorbent specially designed charcoal-type product primarily used as a soil enhancement for the agricultural industry to significantly increase crop yields. Biochar offers a powerfully simple solution to some of today’s most urgent environmental concerns. The production of Biochar for carbon sequestration in the soil is a carbon-negative process. Biochar is made from timber waste using torrefaction technology and the Company’s patent pending manufacturing machine. When put back into the soil, Biochar can stabilize the carbon in the soil for hundreds of years. The introduction of Biochar into soil is not like applying fertilizer; it is the beginning of a process. Most of the benefit is achieved through microbes and fungi. They colonize its massive surface area and integrate into the char and the surrounding soil, dramatically increasing the soil’s ability to nurture plant growth and provide increased crop yield.
This first order will be used by AK Provisions, Inc. at its own facility currently under construction in Anchorage. AK Provisions plans to use Vega’s Biochar in its own grow facilities, as well as market the product to other growers throughout the state of Alaska through a reseller agreement with Vega Biofuels.