Cinis Fertilizer accelerates the expansion in the USA and prioritizes its production facility in Kentucky
On 21 September 2023, Cinis Fertilizer signed an agreement for the supply of sodium sulphate from Ascend Elements, an independent manufacturer of advanced engineered battery materials. In connection with this agreement, Cinis Fertilizer decided to establish a production facility in Hopkinsville, Kentucky. The preparatory work and contacts with partners and authorities have taken place at a high pace, which is the background to the decision to accelerate the start of planning for the facility in Kentucky.
In order to enable the acceleration of production of 300,000 tons of potassium sulphate in Kentucky, parts of the planning of the company’s Skellefteå plant, with production of 200,000 tons of potassium sulphate, are pushed forward somewhat. This means that it will be the third facility in the order of Cinis Fertilizer's six planned facilities, with a total production capacity of about 1.5 million tonnes, to be in operation in the year 2030. The expansion will be financed with internal cash flows and external loans. The company is also investigating supplementary financing solutions, which include state and federal investment grants.
“The rapid handling of important contractual issues and the great interest key players have demonstrated have made us choose to shift our schedule. Ascend Elements battery material manufacturing facility is being built quickly and we have already managed to establish a strong local network. The market for production of electric vehicle batteries is growing very fast in North America on the back of favourable government incentive programs introduced in the USA and Canada, thus many battery manufacturers are now shifting their focus from Europe to North America. Cinis Fertilizer wishes to take part in this growth and therefore we choose to focus on Hopkinsville as our second facility. This means that we are waiting a bit with the planning of the Skellefteå facility, and thus it will now be number three of our planned six facilities,” says Jacob Liedberg, founder and CEO Cinis Fertilizer.
Ascend Elements is currently building its largest facility in Hopkinsville, Kentucky. The agreement with Cinis Fertilizer means that Ascend Elements will deliver up to 240,000 tonnes of sodium sulphate annually beginning in 2024. Cinis Fertilizer has also entered into a letter of intent regarding the sale of its end product, potassium sulphate, to K+S and the purchase of potassium chloride from K+S’ production facilities in
Saskatchewan in Canada, to Cinis Fertilizer’s facility in Hopkinsville. Cinis Fertilizer’s facility is to be ready in 2025 with a production capacity of up to 300,000 tons of potassium sulphate for the North American market. Cinis Fertilizer is currently building its first production facility outside of the town of Örnsköldsvik in Sweden, with a planned start-up in early 2024.
For more information, please contact:
Anders Antonsson, Acting IR and Communications Manager Cinis Fertilizer
anders@cinis-fertilizer.com
+46 709 994 970
Jakob Liedberg, VD Cinis Fertilizer
jakob@cinis-fertilizer.com
+46 768 58 12 8633
About Cinis Fertilizer
Cinis Fertilizer is a Swedish green-tech company aiming to produce the world’s most environmentally friendly mineral fertilizer, potassium sulphate (SOP), by recycling industrial waste products from the car battery manufacturing industry as well as the pulp & paper industry. The patent protected technology will use half as much energy as today’s production methods and the result is a fertilizer with a close to zero carbon footprint, a unique and circular contribution enabling sustainable agriculture. FNCA Sweden AB is Certified Adviser. For further information please visit: www.cinis-fertilizer.com.
