TEL AVIV, Israel--(BUSINESS WIRE)--ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, today announced it expects to see expanded growth of Fibagro Advance, a unique and superior peat alternative manufactured in the UK from home grown Forest Stewardship Council (FSC) sourced wood, which is a by-product of the timber industry. This innovative and advanced woodfibre product is being used as a key component in professional growing media mixes and provides professional growers with a sustainable growing solution.
Fibagro Advance takes waste wood and uses a thermo-mechanical process to create a unique matrix, which improves moisture and nutrient retention. In addition to its superior technical capabilities, Fibagro Advance is produced from local renewable sources and contributes to local circular economy targets. It also has a lower carbon footprint, compared with peat and other peat alternatives, and is setting the standard for the next generation of professional growing media.
Fibagro Advance has achieved 15 sustainability points more than the average of peat and other peat alternatives, according to the Growing Media Association’s Responsible Sourcing Calculator. This resource enables manufacturers and users of growing media to understand and measure the impact of growing media materials across seven criteria: energy and water use, social compliance, habitat and biodiversity, pollution, renewability, and resource use efficiency, as certified by BM TRADA.
The use of Fibagro Advance by professional growers is already changing growing media practices, as customers are experiencing increasing benefits. This has led to use rates increasing from 12% in 2020 to 30% in 2021. It is expected that in 2022, Fibagro Advance will increase to a 50% use rate, versus traditional peat and other peat alternatives.
“ICL is at the forefront of exploring innovative and sustainable solutions, and the investment in and development of Fibagro Advance aligns with our strategy to create impactful solutions for humanity's sustainability challenges,” said Elad Aharonson, president of Innovative Ag Solutions of ICL. “The company is also investing in further internal and external R&D efforts, to develop other suitable sustainable materials. ICL has been collaborating with the University of Manchester and Lancaster University to explore and assess the circular economy for a range of sustainable materials to help improve food security and sustain natural resources.”
ICL is an active member of the UK Horticultural Trades Association and is committed to its sustainability roadmap, which helps members increase the commercial, environmental and social value of their businesses. The company is also a founding member of the UK Growing Media Association’s Responsible Sourcing Scheme for Growing Media and supports its efforts to help manufacturers and growers choose more sustainable materials. The UK is one of the leading countries in Europe transitioning away from peat-based growing media, and this trend is likely to be replicated in other countries in the coming years.
ICL Group is a leading global specialty minerals company, which also benefits from commodity upside. The company creates impactful solutions for humanity's sustainability challenges in global food, agriculture, and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its passionate team of talented employees, and its strong focus on R&D and technological innovation to drive growth across its end markets. ICL shares are dually listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,000 people worldwide, and its 2020 revenues totalled approximately $5.0 billion.
For more information, visit ICL's website at www.icl-group.com.
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