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Canada & Korea Partner in Sustainable Agriculture: Genesis Fertilizers Signs FEED Agreement with DL E&C

At Genesis Fertilizers, we’re committed to excellence. This is why we are excited to share a significant milestone in our journey to build Canada’s first proposed low-carbon nitrogen fertilizer facility.

Earlier this week, we signed a Front-End Engineering Design (FEED) agreement with DL Engineering & Construction (DL E&C), a South Korean leader in building fertilizer plants. The signing took place at the Canadian Embassy in Korea, highlighting the strong partnership between our two countries. But what does this milestone mean for farmers, and why is it so important?

What is FEED, and why should farmers care?

Think of FEED as the “blueprint phase” for building a fertilizer plant. Imagine you’re planning to build a new barn on your farm. Before construction begins, you would need to work with an architect to figure out where the barn will go, how big it should be, what materials you’ll use, and how it fits into your farm layout. FEED is like that process, but on a much larger scale.

During FEED, engineers and designers create detailed plans for the facility, including how it will use technology to capture carbon and how materials will move through the plant. This phase ensures that when construction begins, everything is safe, efficient, and cost-effective. Getting this step right is critical—it’s the difference between a barn that fits perfectly into your operation and one that doesn’t meet your needs.

Why this milestone matters for farmers

For farmers across Western Canada, this proposed project represents a more secure and affordable fertilizer supply. Right now, many farmers depend on imported fertilizers, which are often subject to price swings and availability issues. With Genesis Fertilizers’ proposed plant, you could have access to a locally produced, reliable source of nitrogen fertilizer, reducing your reliance on external markets.

Additionally, this proposed facility is designed with sustainability in mind. Advanced carbon capture technology aims to sequester up to 1 million metric tonnes of CO₂ each year, helping farmers like you meet your own environmental goals.

Why DL E&C is the Right Partner

DL E&C is not just another construction company—they are a global leader with a proven track record of building some of the world’s most advanced and efficient facilities. Their experience and expertise ensure that Genesis Fertilizers’ proposed low-carbon fertilizer plant will be designed and executed to the highest standards.

Here’s why DL E&C stands out:

  • Ma’aden Ammonia III Project, Saudi Arabia
    Completed in June 2022, this project set a global benchmark with the largest commercial production capacity per train (1,100,000 metric tonnes per year). Despite the challenges of the Covid era, DL E&C delivered the project on time and under budget, showcasing their efficiency and reliability.
  • Ma’aden Ammonia II Project, Saudi Arabia
    Building on their success, DL E&C completed the Ma’aden Ammonia II project in 2016 with the same client and capacity as its successor. This back-to-back execution highlights their ability to handle complex, large-scale projects seamlessly.
  • Golden Triangle Polymers Project, Texas, USA
    Currently underway, DL E&C transitioned directly from the Front-End Engineering Design (FEED) phase to the Engineering, Procurement, and Construction (EPC) phase for this cutting-edge polyethylene production facility. Featuring two production trains with a capacity of 1,000,000 metric tonnes per year each, this project demonstrates DL E&C’s ability to deliver innovative and high-efficiency designs at a global scale.

By partnering with DL E&C, Genesis Fertilizers gains access to a wealth of knowledge, ensuring that this proposed fertilizer facility is built efficiently, sustainably, and with a clear focus on delivering value to Canadian farmers. Their ability to execute challenging projects like the ones above strengthens our confidence in making this transformative vision for Western Canadian agriculture a reality.

What’s Next for Genesis Fertilizers?

With FEED scheduled to begin this December, Genesis Fertilizers is taking another step toward making this vision a reality. Construction is targeted to begin after this phase is complete, with operations projected to start by 2029.

This facility isn’t just about fertilizer—it’s about supporting the farmers who feed the world. By creating a farmer-owned plant, Genesis Fertilizers is committed to returning profits directly to farmers while providing a stable, locally sourced supply of nitrogen fertilizer.

Advisory Regarding Forward-Looking Statements

This press 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, current expectations and reasonable 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”, “assume”, “estimate”, “expect”, “intend”, “forecast”, “continue”, “contemplate”, “propose”, “may”, “can”, “will”, “if”, “to be”, “aim”, “should”, “could”, “would”, “believe”, “plan”, “target”, “objective”, “project”, “potential”, “outlook”, “subject to”, “working toward” 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 or limited partners of Genesis Fertilizers may derive therefrom). In particular, but without limiting the foregoing, this press release contains forward-looking statements pertaining to: the construction of the Genesis Fertilizer’s fertilizer plant; design options and use of latest technologies available for the fertilizer plant; the fertilizer plant’s products; minimizing emissions from the fertilizer plant and sustainability; the existence and sustainability of any competitive advantage that Genesis Fertilizers may be able to offer; the commercial operations date of the fertilizer plant; and the benefits of the foregoing on the investment of limited partners in Genesis Fertilizers.

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; the availability of government grants and programs; 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.

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