Nova Scotia and Prince Edward Island have already done so. Ontario has announced its intention to do so in 2022.
Ban organic waste from landfills, ie. Canadians throw away a lot of food — about 20% of what is produced, some say reports — creating harmful methane emissions along the way.
An Ontario-based company says it wants to take this waste and, instead of just leaving it to rot in landfills and produce greenhouse gases, recycle it to make regenerative products such as fertilizer as part of the Diversion and Climate Change Initiative.
Sus Global Energy Corp. SNRG reports the development of a second facility in Hamilton, Ontario, which includes a permit to do just that – a so-called Environmental Compliance Approval (ECA).
The company says the ECA enables SusGlobal to turn up to 65,884 metric tons of organic waste per year into regenerative products at the Hamilton site, which is expected to be fully operational by the fourth quarter of this year. The development of the company’s site in Hamilton, where SusGlobal fully owns the real estate, follows its first facility in Belleville in its home province which sits on 49 acres of company-owned land.
The plans for the Hamilton site are ambitious. The company estimates an annual revenue rate of more than $105 million from 2023 based on 12,000 metric tons of organic waste processing, which equates to nearly 20% of ECA’s capacity over the course of the first 12 months of treatment.
“We are confident of an increase in revenue this year,” SusGlobal Executive Chairman, President and CEO Marc Hazout said when releasing quarterly results in May. “Our goal is to complete the acquisition strategy and have our second facility begin commercialization of our proprietary organic liquid fertilizer to increase revenue and cash flow.
SusGlobal reported first-quarter 2022 revenue of $144,470. During its recent earnings release, the company also discussed plans to acquire a producer of soil media, plant nutrients and amendments approved for organic use when listing and monetizing its carbon credits, both in the third quarter.
SusGlobal, which is eyeing Florida and California as states for potential mining sites, is a proponent of the circular economy, aiming to be a leader in it.
The idea is to take the waste and convert it into regenerative products such as the company’s award-winning pathogen-free organic liquid fertilizer. These products are available at major retailers such as Home Depot Inc. HD and Lowe’s Cos. Inc. DOWN.
The compound annual growth rate (CAGR) of the organic fertilizers market is estimated at 11.2% through 2026.
Photo presented by Anita Jankovic on Unsplash
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