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.
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