MustGrow Biologics Corp. (TSX-V:MGRO, OTCQB:MGROF) said on Tuesday it has entered into a distribution agreement with US-based Phospholutions to bring RhizoSorb phosphorus efficiency technology to the Canadian market.
Under the agreement, MustGrow will market and sell RhizoSorb through its sales and distribution division, NexusBioAg.
RhizoSorb aims to improve phosphorus use efficiency by up to 50%, allowing farmers to reduce application rates without compromising yields.
The RhizoSorb technology integrates into traditional dry granular fertilizer production and requires no changes to farmers’ existing equipment or application practices. Phospholutions says the product can save growers up to US$20 per acre while delivering environmental benefits, including a 45% reduction in CO₂e emissions, 78% less phosphorus runoff, and 84% lower leaching compared to conventional MAP.
MustGrow COO Colin Bletsky said both companies are aligned in their mission to promote sustainable food production. “Phosphorus is the second-most-used nutrient in global food production, making its efficient and responsible use a top priority for both our companies and the growers we serve,” Bletsky said in a statement.
Canada has approximately 94.5 million acres of crop production that depend on phosphate, noted Craig Dick, vice president of sales and marketing at Phospholutions. “We are proud to partner with MustGrow to deliver RhizoSorb to retailers and growers across Canada.”
RhizoSorb will be available through NexusBioAg, which supplies crop input technologies to Canadian farmers.
The update was welcomed by investors, with shares of MustGrow adding 10% in early trade on Tuesday.