Hanfeng Evergreen Inc., Toronto, has acquired a ten-year exclusive right to technology for the production of high-concentration urea-based compound fertilizer by tower granulation. This technology and related know-how is being acquired from Shanghai Keyi Fertilizer Engineering Technology Center (SKFETC), a division of the Shanghai Research Institute of Chemical Industry (SRICI), a Shanghai government entity.

The technology is designed for a 100,000-tonnes-per-annum plant, which Hanfeng intends to build. Under the terms of the agreement, Hanfeng will pay SKFETC RMB 3,980,000 (C$590,000) in four payments based on certain milestones relating to delivery of technical information, with the last payment due when Hanfeng's plant is operating at 90% capacity.

The acquired technology is the result of over ten years of research by the Shanghai government. The compound fertilizer granules produced by this technology are premium-quality because of their uniform round shape and high concentration of nutrients. Unlike fertilizer blended from separate materials, each compound granule contains a fixed ratio of nitrogen, phosphate, and potash, facilitating uniform application of all of the key nutrients.

Hanfeng is a leader in China's growing market for urban greening and high-value agricultural products and services. Headquartered in Toronto, and with operations in Dalian, Shanghai, and Beijing, China, Hanfeng has its own production facilities in China and also has exclusive distribution agreements with leading North American suppliers of fertilizers.

Source: PRNewswire