HOUSTON, Nov. 8, 2019 /PRNewswire/ -- CARBO Ceramics
Inc. (NYSE: CRR) announced today the signing of an agriculture
technology products production agreement with INNOVAR AG, LLC.
Logo: http://photos.prnewswire.com/prnh/20120503/MM00528LOGO
The agreement combines CARBO's technological capabilities and
expertise in manufacturing and material science, with INNOVAR's new
Encapsulated Infused Fertilizer ("EIF") technology, and extensive
experience with Enhanced Efficiency Fertilizers ("EEF"), in both
Agricultural and Turfgrass markets. The companies have worked
together to develop and produce, a new EEF type product that
reduces nitrogen loss, increases microbial populations, and enables
phosphorus, potash, sulphur and micro nutrients to be released from
the soil profile and become better utilized by plants.
Gary Kolstad, Chairman and CEO of
CARBO commented, "We are excited to sign another agreement in the
fast-growing agriculture technology space, which allows us to
utilize our core strengths of technology innovation coupled with
our manufacturing expertise. INNOVAR AG is a leader in
developing EEF technology, which ultimately helps to make crops
more productive to better serve the increasing global demand for
food products, but also reduces the environmental impacts
associated with the inefficient fertilizers used today.
Today's announcement is another step forward in our transformation
strategy to utilize our technology and plant assets to diversify
into other end-markets, and is similar to our current production
agreement with another leading agriculture technology products
company. We will continue to look for more client
opportunities to grow our presence in EEF technologies and
agriculture."
Andrew Semple, CEO of INNOVAR AG
commented, "Combining our knowledge and experience in EEF
technologies with CARBO's extensive material science and precision
manufacturing capabilities was critical in allowing us to develop
InnoSolve 45NTM. This product is the most
cost-effective, broad spectrum fertilizer technology on the
market. We expect strong adoption of this product based on
positive research studies that support its efficacy. As an
example, one research study performed on corn crops with InnoSolve
45N components showed an approximate 24% increase in yield, with an
approximate 5-to-1 return on investment. We look forward to
helping our customers achieve higher yields while lowering their
environmental impact associated with run off and gaseous losses
with this EIF technology during the 2020 growing seasons, both
domestically and internationally."
About CARBO
CARBO® (NYSE: CRR) is a global technology company that
provides products and services to several markets, including oil
and gas, industrial, agricultural, and environmental markets to
enhance value for its clients.
CARBO Oilfield Technologies – is a leading provider of
market-leading technologies to create engineered production
enhancements solutions that help E&P operators to design, build
and optimize the frac – increasing well production and estimated
ultimate recovery, and lower finding and development cost per
barrel of oil equivalent.
CARBO Industrial Technologies – is a leading provider of
high-performance ceramic media and industrial technologies
engineered to increase process efficiency, improve end-product
quality and reduce operating cost. CARBO has world class
manufacturing expertise. We bring new products to market
faster to meet client demands.
CARBO Environmental Technologies – is a leading provider
of spill prevention and containment solutions that provide the
highest level of protection for clients' assets and the environment
in oil and gas and industrial applications. Our range of innovative
products feature a proprietary polyurea coating technology that
creates a seamless, impermeable, maintenance-free layer of
protection.
For more information, please visit www.carboceramics.com.
About INNOVAR AG
INNOVAR AG provides innovative and quality products to
the nutrient efficiency market; including an environmental,
agronomic and economic focus. INNOVAR AG's courteous, knowledgeable
and professional team help its global partners differentiate their
nutrient product offers, educate the market and lead value-added
sales strategies.
For more information, please visit www.innovarag.com
Forward-Looking Statements
The statements in this news release that are not historical
statements, including statements regarding our future financial and
operating performance and liquidity and capital resources, are
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements describe future expectations, plans, results or
strategies and can often be identified by the use of terminology
such as "may", "will", "estimate", "intend", "continue", "believe",
"expect", "anticipate", "should", "could", "potential",
"opportunity", or other similar terminology. All
forward-looking statements are based on management's current
expectations and estimates, which involve risks and uncertainties
that could cause actual results to differ materially from those
expressed in forward-looking statements. Among these factors
are changes in overall economic conditions, changes in the demand
for, or price of, oil and natural gas, changes in the cost of raw
materials and natural gas used in manufacturing our products, risks
related to our ability to access needed cash and capital, our
ability to meet our current and future debt service obligations,
including our ability to maintain compliance with our debt
covenants, our ability to manage distribution costs effectively,
changes in demand and prices charged for our products, risks of
increased competition, technological, manufacturing and product
development risks, our dependence on and loss of key customers and
end users, changes in foreign and domestic government regulations,
including environmental restrictions on operations and regulation
of hydraulic fracturing, changes in foreign and domestic political
and legislative risks, risks of war and international and domestic
terrorism, risks associated with foreign operations and foreign
currency exchange rates and controls, weather-related risks, risks
associated with the successful implementation of our transformation
strategy, and other risks and uncertainties. Additional
factors that could affect our future results or events are
described from time to time in our reports filed with the
Securities and Exchange Commission (the "SEC"). Please see
the discussion set forth under the caption "Risk Factors" in our
most recent annual report on Form 10-K, and similar disclosures in
subsequently filed reports with the SEC. We assume no
obligation to update forward-looking statements, except as required
by law.
FOR MORE INFORMATION:
CARBO:
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Investors:
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Media:
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Mark Thomas, Director
Investor Relations
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Jamie Efurd,
Marketing Director
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+1
281-921-6400
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+1
281-921-6400
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INNOVAR
AG:
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Andrew Semple,
CEO
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info@innovarag.com
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SOURCE CARBO Ceramics Inc.