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Nov. 17, 2023 Source: CoteX Technologies news release HALIFAX, NS - CoteX Technologies, a growing Canadian agricultural technology startup, and Nutrien, the world's largest provider of crop inputs and services, announced today 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 Technologies, a startup located in Nova Scotia, Canada, has developed a low-cost, customizable controlled-release fertilizer (CRF) coating that minimizes environmental impact. Their biodegradable coating allows fertilizer to be slowly released into the soil over time, reducing greenhouse gas emissions and eliminating 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." Over 110 million tonnes of nitrogen fertilizer is applied to crops worldwide every year. Nitrogen is required by every living cell and is a fundamental building block of plant proteins that improve crop yield and quality. Controlled release nitrogen fertilizer delivers this important crop nutrient while helping to minimize losses to runoff into waterways and diminish greenhouse gas emissions. "Our coating process is lower cost and more versatile than liquid coating and it's environmentally friendly", said Yadav. "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, EVP and President of Nitrogen & Phosphates at Nutrien. "This innovation has the potential to substantially increase efficiency in nitrogen application which will help farmers increase yield potential in a sustainable way." To learn more about the biodegradable coating created by CoteX, please visit www.cotextech.com. For additional information about how Nutrien is Feeding the Future, please visit www.nutrien.com. About Cotex Technologies CoteX Technologies Inc. is a startup company with operations in Nova Scotia, Canada and Gujarat, India. CoteX is supported by a robust provincial and national startup ecosystem. They are 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. About Nutrien Nutrien is the world's largest provider of crop inputs and services, helping to safely and sustainably feed a growing world. We operate a world-class network of production, distribution and retail facilities that positions us to efficiently serve the needs of growers. We focus on creating long-term value for all stakeholders by advancing our key environmental, social and governance priorities. Tweet |
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