- Has developed a proprietary process that breaks down organic waste
- Food waste management is a multi-billion dollar industry
- Has completed acquisition of manufacturer Covid Technologies
What Micron Waste Technologies does:
The group's on-site treatment system turns organic waste into clean water. Its technology can handle specialized organic waste generated by cannabis cultivators, food producers and operators, hotels and others.
Food waste management is a multi-billion dollar industry, the Vancouver-based firm says, with Canada alone throwing away food worth $31 billion every year. Micron says its technology is unique and clean and can manage food, but also cannabis and other organic matter.
The benefits of its process include that it reduces greenhouse gas emissions, saves landfill space, minimizes waste disposal costs and preserves fresh water resources.
Significantly, on July 10 this year, in a move which added another string to its bow, Micron said it had completed its acquisition of personal protective equipment (PPE) manufacturer Covid Technologies Inc.
It issued to former Covid Technologies securityholders around 16.5 million common shares at C$0.08 per consideration share as well as 16.5 million replacement warrants exercisable into shares at $0.10 each for a period up to and including April 28, 2025.
How is it doing:
When it completed the Covid Technologies Inc deal on July 10, Micron said the business was preparing to deliver Canadian-made, high quality, vapour barrier technology (masks and garments) that protect against biological hazards, pathogens and suberbugs, a key product in the coronavirus (COVID-19) pandemic world.
The materials will be made at Micron Waste’s facility in Delta, British Columbia. Covid Technologies also plans to make N95 Respirators and is awaiting a licence from the National Institute for Occupational Safety and Health to be able to begin production.
Micron Waste confirmed it will continue the research and development of its waste digester business alongside the PPE manufacturing business.
In particular, the Pharmavore digestor is anticipated to enter testing and trials with an industry partner, the company said, adding that it had over $3 million to allocate to its waste digestor business and it is anticipated that the PPE business line will be self-financing based on anticipated sales.
- More newsflow/deals
- PPE sales and production ramp-up
What the boss says:
In May, Covid Technologies president and now Micron Waste board director, Harvey Sidhu spoke to Proactive's Steve Darling and explained how the company had entered the personal protective equipment (PPE) space after he realized the strength of demand for such products in Canada.
Striking a deal with Micron Waste helps to scale up production, explained Sidhu.
"We want to be able to make Canadian made products for Canadians," he said. "When there is a huge demand, we can't rely on other countries for PPE equipment for our frontline workers," he added.
The firm can currently make about 100,000 surgical face masks a day and for the N95 facepiece respirator about 40,000 but the demand is very high and Sidhu said he wanted to ramp that up.
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