Revolutionizing Fertilizer Production in Western Canada: thyssenkrupp Uhde and Genesis Fertilizers announce next steps for reduced-emission fertilizer plant in Western Canada

SASKATOON, SK, April 4, 2024 /CNW/ - thyssenkrupp Uhde and Genesis Fertilizers Limited Partnership ("Genesis Fertilizers" or the "Partnership") have entered into an agreement for a conceptual design study for the development of a fertilizer complex to be located near Belle Plaine, Saskatchewan. The proposed plant will be designed to utilize the latest production technology available for nitrogen fertilizer production, along with design options to also enable significant reduced greenhouse gas emissions while exploring renewable-based hydrogen, electricity options, and carbon capture. The plant will be designed to produce approximately 1,500 MTPD (metric tonne per day) of ammonia, with downstream production of urea, urea ammonium sulphate, and DEF (diesel exhaust fluid). The production of nitric acid and UAN (urea ammonium nitrate) is also being considered.

This Partnership announcement initializes the conceptual design or Pre-FEED (front end engineering and design) stage which will complete the design basis of the plant, including capacities, technology selection, product mixes, mass balance of inputs and outputs, block flow diagrams and carbon footprint optimization. The product formulations this plant will produce are expected to greatly streamline fertilizer handling in Canada, leading to a notable reduction in the overall carbon footprint associated with fertilizer production.

"Our primary goal is to build the most cost-efficient production and supply of nitrogen fertilizers to the farmers in Western Canada based on the most advanced technologies available, while considering the carbon impact," said Jason Mann, President and CEO of Genesis Fertilizers. "This project signifies that the transition of the fertilizer industry to become more environmentally-friendly has started."

Genesis Fertilizers has strategically partnered with thyssenkrupp Uhde for this important advancement of the project, as  thyssenkrupp Uhde offers extensive experience and established expertise in all the processes and technologies needed to make the plant both successful and sustainable. " thyssenkrupp Uhde's reputation in clean fertilizer technologies and their integration into plant design is essential to support our customers in all parts of the supply chains as they work to protect the environment," adds Terry Drabiuk, Genesis Fertilizers' Vice-President of Business Development. "Canadian farmers are not only the end customers, but also the project investors. They deserve ownership in a fertilizer complex that will be globally recognized for both its product excellence and its sustainability contributions."

For comprehensive technical details please visit the full thyssenkrupp Uhde press release.

For media inquiries and additional information, please contact:

Megan Madden
Director of Communication and Strategy
Genesis Fertilizers Limited Partnership
Phone: (639) 525-2250
Email: [email protected]

Genesis Fertilizers is proposing to finance, design and construct a new, highly efficient nitrogen fertilizer production and distribution system that serves today's modern farmer. One central production facility constructed near low-cost raw materials serving a Western Canadian network of strategically located farmer-centric SuperCenters. Genesis Fertilizers' is a privately held limited partnership and its securities do not trade on any exchange. For more information, visit genesisfertilizers.com: https://genesisfertilizers.com

thyssenkrupp Uhde combines unique technological expertise and decades of global experience in the engineering, procurement, construction and service of chemical plants. We develop innovative processes and products for a more sustainable future and thus contribute to the long-term success of our customers in almost all areas of the chemical industry. Our portfolio includes leading technologies for the production of base chemicals, fertilizers and polymers as well as complete value-chains for green hydrogen and sustainable chemicals. www.thyssenkrupp-uhde.com

This news release contains certain information and statements ("forward-looking statements") that constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future results or events, are based upon internal plans, intentions, expectations and beliefs, and are subject to risks and uncertainties that may cause actual results or events to differ materially from those indicated or suggested therein. All statements other than statements of current or historical fact constitute forward-looking statements. Forward-looking statements are typically, but not always, identified by words such as "anticipate", "estimate", "expect", "intend", "forecast", "continue", "contemplate", "propose", "may", "will", "should", "believe", "plan", "target", "objective", "project", "potential" and similar or other expressions indicating or suggesting future results or events.

Forward-looking statements are not promises of future outcomes. There is no assurance that the results or events indicated or suggested by the forward-looking statements, or the plans, intentions, expectations or beliefs contained therein or upon which they are based, are correct or will in fact occur or be realized (or if they do, what benefits Genesis Fertilizers may derive therefrom). In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to: the construction of the fertilizer plant; its location; its products and output thereof; minimizing emissions from the fertilizer plant, use of renewable-based hydrogen and electricity; and the construction of the distribution facilities. With respect to the forward-looking statements contained in this news release, Genesis Fertilizers has assessed material factors and made assumptions regarding, among other things: the availability of equity capital; the availability of debt financing at acceptable rates; commodity prices and currency exchange rates; the ability to successfully construct the fertilizer plant and the distribution facilities and the availability of materials and service providers therefor; operational matters with respect to the proposed plant and distribution facilities, all of which are currently in the planning stage; the timely receipt of required regulatory approvals; the access, economic, regulatory and physical limitations to which Genesis Fertilizers may be subject from time to time; and the impact of industry competition.

The forward-looking statements contained herein reflect management's current views, but the assessments and assumptions upon which they are based may prove to be incorrect. Although Genesis Fertilizers believes that its underlying assessments and assumptions are reasonable based on currently available information, undue reliance should not be placed on forward-looking statements, which are inherently uncertain, depend upon the accuracy of such assessments and assumptions, and are subject to known and unknown risks, uncertainties and other factors, both general and specific, many of which are beyond Genesis Fertilizers' control, that may cause actual results or events to differ materially from those indicated or suggested in the forward-looking statements. As Genesis Fertilizers is currently in the capital raising phase of the project, such risks and uncertainties are numerous and include, but are not limited to, access to the significant amounts of required capital and debt financing for construction and initial operation of the fertilizer plant and distribution facilities; general economic, business and industry conditions; the state of the economy and the agricultural crop input business; business prospects and opportunities; variance of Genesis Fertilizers' actual capital costs versus projections and estimates, operating costs and economic returns from those anticipated; and risks related to the sourcing of feedstock and the manufacturing of nitrogen fertilizer.

This press release is not a solicitation to invest in Genesis Fertilizers.

SOURCE Genesis Fertilizers