MALMÖ, Sweden, Dec. 1, 2025 /PRNewswire/ --

Company: Replenish Nutrients

Listings: CSE Canada , Frankfurt and US OTC

Tickers: ERTH / VVIVF / WIMN

Market cap at time of publication: $27 MCAD

Stock price at time of publication: $0.17 CAD

Business: Regenerative agriculture

Website: https://replenishnutrients.com/

Target price: CAD 0.44 (USD 0.31)

Executive introduction:

Replenish Nutrients is a small-cap clean-tech fertilizer company based in Alberta, Canada, delivering natural, carbon-reducing micro-nutrient fertilizers designed to rebuild soil health. The company is now on the verge of transforming itself into a global regenerative fertilizer licensing platform. Replenish's products generate clear environmental and social benefits compared to conventional fertilizers, with internal studies showing they can reduce CO emissions by 0.4517 tonnes for every tonne of fertilizer produced versus traditional synthetic methods.

ESGFIRE believes the market has not yet fully recognized the significance of this inflection point. With its formulations now commercially validated and a high-margin, capital-light licensing model emerging, Replenish is transitioning from a regional fertilizer producer into a scalable regenerative technology platform. This strategic shift supports our recent target price of CAD 0.44 (USD 0.31).

A major catalyst is the company's exclusive U.S. licensing agreement with Farmers Union Enterprises $(FUE)$--a 95-year-old agricultural co-operative with influence across approximately 70 million acres in the Midwest. The partnership provides Replenish with a rare and credible entry point into the U.S. co-op system while establishing a recurring royalty stream in the USD $40--60 per tonne range. With high margin licensing revenues even one 50,000-tonne facility can generate meaningful, high-visibility EBITDA.

These developments align with continued progress at the Beiseker commercial facility and the shovel-ready Debolt project, supported by a CAD $7 million non-dilutive grant from Emissions Reduction Alberta--further strengthening the company's disciplined, capital-efficient growth strategy.

With international interest emerging--from Brazil to Africa--ESGFIRE spoke with CEO Neil Wiens about Replenish's evolution, the strategic role of the FUE partnership, and the company's vision as it scales its regenerative fertilizer platform globally

1. Transformation Into a Global Regenerative Platform

From early-stage formulations to international scale-up

Filip ESGFIRE:

Neil, great to have you with us today--thanks for taking the time to speak with us!

Wiens:

Thanks Filip, always a pleasure. I appreciate the opportunity to share what we've been working on.

Filip ESGFIRE:

Replenish Nutrients has evolved from a regional fertilizer producer into what many investors now view as a regenerative technology platform. How would you describe the company today compared to three years ago--and looking ahead, where do you see it positioned three years from now?

Wiens:

Three years ago, we were still in our infancy--focused on developing intellectual property and proving our formulas worked. Today those formulations are commercial, validated in the marketplace, and ready for global scaling through licensing partners. Looking closely ahead, I expect 10--15 pelletizing units operating globally, each producing 50,000--100,000 tonnes, positioning Replenish as a true global regenerative platform.

2. Three-Pillar Strategy

Why licensing is the primary value driver

Filip ESGFIRE:

You've structured Replenish around three pillars: production, licensing, and retail. Which will be the dominant driver of value?

Wiens:

Licensing--without question. Company-owned plants require capital and have standard manufacturing margins. Retail improves brand awareness but is also capital intensive. Licensing yields high margins with minimal capital, making it the engine of long-term value creation. Our partners like MJ Solutions and the U.S. Farmers Union showcase the model in action.

3. U.S. Entry Strategy Through Farmers Union Enterprises

Partnering with a 95-year-old cooperative with 70 million acres of reach

Filip ESGFIRE:

What made Farmers Union Enterprises (FUE) the right partner for your U.S. expansion?

Wiens:

The U.S. agricultural industry is strongly cooperative-driven. FUE spans 70 million acres across five Midwest states. They understood our model immediately and have the reach to scale pellet lines across their network. The plan is to commission the plant by June/July, ship product by late summer, and hit up to 25,000 tonnes in the first year.

4. High-Margin Licensing Economics

Royalty streams that materially lift EBITDA visibility

Filip ESGFIRE:

Licensing royalties of US$40--60/tonne imply strong EBITDA. How does this shape margin visibility for 2026--27?

Wiens:

A 50,000-tonne facility paying US$50 per tonne generates US$2.5 million in margin--most of which drops straight to EBITDA given our high licensing margins. Each partner facility contributes a minimum of USD$200--300k per month in cash flow. With a few such facilities, we easily surpass the threshold to become a dividend-paying company.

5. Beiseker Production Ramp-Up

Approaching 2,000+ tonnes/month

Filip ESGFIRE:

What remains to reach consistent output at your Beiseker facility?

Wiens:

We've hit our hourly run-rate. The next step is adding a second shift without significant staff increases. Improved mechanization is the key to sustaining 2,000 tonnes per month.

6. Debolt & Bethune: Strategic Growth Assets

Shovel-ready expansion and strategic partnerships

Filip ESGFIRE:

How do the Debolt and Bethune projects fit into your growth strategy?

Wiens:

Debolt is fully shovel-ready and expands on our MJ partnership by adding capacity. Bethune strengthens our relationship with K+S and expands offtake potential. Combined activity across FUE, Beiseker and Debolt paves the way for a significant mine-mouth facility at Bethune. Bethune has the potential to become a 200 000 tpa facility.

7. Managing Operational Risks

Why logistics--not engineering or feedstock--is the main challenge

Filip ESGFIRE:

Where do you see the largest operational risks today?

Wiens:

Engineering is strong through FUE. Feedstock is secure with K+S for potash, Shell Canada for sulphur, and our phosphate partner. Talent is solid. Logistics is the main risk, since sulphur is in Alberta and potash in Saskatchewan. Fortunately, Replenish Nutrients CFO Kevin Erickson excels at logistics partnerships. Financing is important for company-owned plants; FUE are fully funded, and for Debolt we're pursuing non-dilutive options.

8. Debolt Project Requirements & ERA Grant Impact

Non-dilutive up to CAD$7M funding enhances project economics

Filip ESGFIRE:

What is required to move forward with Debolt, and how does the ERA grant factor in?

Wiens:

Engineering and licensing are near completion. We now need to finalize offtake agreements and secure financing. Alberta's ERA grant provides up to CAD$7M non-dilutive support. Switching from granulation to pelletization has cut our capex in half. The ERA grant acts like equity--you spend a dollar to receive a dollar--and can be leveraged through debt. We may also consider partnerships or a royalty/licensing structure to avoid dilution on Debolt for our shareholders.

9. Global Market Pull for Licensing

Brazil and Africa lead global demand

Filip ESGFIRE:

Which global regions show the strongest demand for your licensing model?

Wiens:

Brazil and Africa. Brazil has huge demand for sulphur and potash--our SuperKS pellet fits perfectly. Africa is rapidly expanding its agriculture sector and needs balanced nutrients and soil-health solutions. India is interesting but heavily subsidized; Australia is challenged by logistics.

10. North American Market Capacity

Long-term potential for 50+ pelletizing facilities in North America

Filip ESGFIRE:

How many 50,000-tonne pellet plants could North America support?

Wiens:

Each 50 000 tpa facility covers 500,000 acres. Worth keeping in mind is that 500,000 acres is tiny relative to North America's scale. Canada has 80 million arable acres; the U.S. has 370 million arable acres. We see near-term support for 10--15 plants, and long term potentially one per U.S. state--so around 50 in the United States.

11. Next U.S. Expansion Regions

High-value crop regions and row-crop belts

Filip ESGFIRE:

Beyond the Midwest, which areas are next for licensing?

Wiens:

The Pacific Northwest in the United States due to its high-value crops, and the Southeast row-crop belt. California is attractive but more regulated--likely requiring joint ventures. Our licensing model is flexible: tiered royalties, co-investments or technical JVs.

12. Margin Outlook Over the Next 24--36 Months

Pellet licensing becomes the primary EBITDA engine

Filip ESGFIRE:

How should investors view your blended EBITDA margins going forward?

Wiens:

Granulation margins level off as we near capacity, but pellet licensing explodes upward. Once Beiseker is fully utilized and FUE's licensing stream kicks in--the latter worth CAD$2.8--8.4M annually--EBITDA becomes positive.

13. Capital Allocation Priorities

Beiseker -> FUE -> Debolt

Filip ESGFIRE:

How do you balance investments between company-owned assets and licensing?

Wiens:

   1. Complete Beiseker using internal cash flow. 
 
   2. Execute FUE--contracts, engineering, logistics--to turn the plant on by 
      late June. 
 
   3. Advance Debolt using the ERA grant. 

Meanwhile we continue signing capital-light licensing agreements worldwide.

14. Agronomic Proof Points

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