Cinis Fertilizer has signed a cooperation agreement with WA3RM, a company developing circular operations on an industrial scale. WA3RM and Cinis intend to collaborate on the development and financing of circular projects, starting with Cinis' planned potassium sulfate production facility in Hopkinsville, USA.
Cinis has entered into a cooperation with WA3RM, which creates, develops and structures the financing of projects to recycle residual flows from industrial production into new profitable businesses. The intention of the collaboration is for WA3RM to structure external financing for new production facilities that Cinis then leases and operates. The goal is to initially enter into a full design and financing agreement for the potassium sulfate plant in Hopkinsville, Kentucky, USA, where Cinis will refine sodium sulfate from the American battery manufacturer Ascend Elements.
"We are very pleased to enter into a collaboration with WA3RM, as they share our belief that the future lies in utilizing and creating value from residual flows. The collaboration, where WA3RM structures the financing of the production facilities and we then lease and operate the completed facilities, means that the capex for the production facilities does not need to be taken by Cinis Fertilizer. This way, we can grow faster with new production units while minimizing Cinis' capital investment and not being limited by our own cash flow," says Jakob Liedberg, CEO of Cinis Fertilizer.
"The industrial development of the future must be circular, where several businesses work together to utilize each other's valuable assets. We intend to show how to do this in close collaboration with Cinis," says Jacques Ejlerskov, CEO of WA3RM.
WA3RM has a rapidly growing portfolio of circular projects. The company recently announced, together with financial partners, a financing framework for the future financing of WA3RM's upcoming projects in Scandinavia, including two large-scale greenhouse projects, of up to SEK 11.5 billion.
