Since April, Progressive Planet has been providing Valens with zeolite, a gray, gravely mineral that can be used in water purification, hazardous waste containment, and crucially, denaturing hemp and cannabis waste.
Now, the companies have signed a deal to have Progressive Planet collect the waste denatured using zeolite from Valens’ British Columbia subsidiary Valens Agritech Ltd. The company will blend the waste back into soil products, thus keeping it out of landfill.
READ: Zeolite miner Progressive Planet helping cannabis producers dispose of marijuana waste product
“We are excited to provide this service to a world class company which will now divert all of its organic waste material from landfills thus avoiding the production of methane, which is a major contributor to global warming," Progressive Planet CEO Steve Harpur said in a statement.
The company offers its zeolite services to cannabis producers in British Columbia, where its Z1 Zeolite Quarry is located. It provides them with bulk bags of zeolite and 800-litre, waterproof totes, and collects the cannabis/zeolite blend.
PLAN shares jumped 14% to C$0.04 on Bay Street and 24% to US$0.03 on OTC Markets in New York.
Valens Groworks and its subsidiary specialize in cannabis extraction to create oils, including white label products, for cannabis producers.
Its stock dropped 4.8% lower to C$3.61 on the TSX and 2% to US$2.79 on OTC Markets.
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