Tel Aviv, Israel –(Business Wire)–ICL (NYSE:ICL) (TASE:ICL)The world’s leading specialty minerals company, today ushered in a new era of controlled-release urea with the launch of eqo.x, a breakthrough fast biodegradable release technology designed for open-air agriculture. This innovative solution is achieved through coatings that will help farmers maximize crop yields while limiting environmental impact by reducing nutrient loss and increasing Nutrient Use Efficiency (NUE) by 80%. Release technology can also increase or similar yields at lower fertilization rates, help reduce nitrogen and nitrogen application rates, and provide consistent and predictable nutrient release.
Importantly, the eqo.x release technology is the first on the market to provide urea with a Controlled Release Fertilizer (CRF) coating that biodegrades more quickly and is designed to meet the regulatory requirements that will take effect in 2026. Designed for future European fertilizer standards. The new technology will be applied to ICL’s crop CRF products, including its Agromaster and Agrocote brands, and will help reduce nutrient losses. This achievement is a key tool in the European Farm-to-Fork Strategy and the EU’s 2030 Soil Strategy, which aims to reduce nutrient losses by at least 50% by 2030.
“ICL is proud to introduce our state-of-the-art CRF coating, eqo.x Rapid Biodegradable Release Technology, which will help regulate daily nutrient release – by responding to the specific needs of each crop – and improve nutrient use efficiency,” ICL said Elad Aharonson, President of Innovative Agricultural Solutions.”Our innovative, sustainable new technology will deliver precise nutrition through a coating that biodegrades faster, helping to increase yields, reduce nutrient loss and simplify fertilizer application. This is not only good for farmers but also for the environment as it will greatly reduce the loss of nutrients to soil and groundwater compared to conventional fertilizers. ”
ICL expects to have this innovative new coating ready for farmers in the EU by 2023, and to meet anticipated market demand, is investing $20 million in a new line of eqo.x release technology at its Heerlen plant in the Netherlands. According to Fortune Business Insights , The global controlled release fertilizer market size was valued at USD 2.3 billion in 2018 and is expected to reach USD 3.86 billion by 2026, with a CAGR of 6.37% during the forecast period.
For more information on this groundbreaking release technology, visit the eqo.x website.
ICL Group, the world’s leading specialty minerals company, also benefited from the rise in commodities. The company creates impactful solutions to humanity’s sustainability challenges in the global food, agricultural and industrial markets. ICL leverages its unique bromine, potassium and phosphate resources, passionate and talented workforce, and strong focus on R&D and technological innovation to drive growth in its end markets. ICL shares are dual-listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE:ICL). The company employs more than 12,000 people worldwide, and its 2021 revenue will total approximately $7 billion.
For more information, please visit the ICL website www.icl-group.com.
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