CoteX Technologies, a Canadian agricultural technology startup, and Nutrien 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.
"We are excited to begin this journey with CoteX Technologies," said Trevor Williams, EVP and president of Nitrogen & Phosphates at Nutrien. "This innovation has the potential to substantially increase efficiency in nitrogen application which will help farmers increase yield potential in a sustainable way."