Verde Resources to expand to La Belle, investing more than $5.6 million and creating 32 new jobs
LA BELLE, Mo., Feb. 10, 2022 /PRNewswire/ — Verde Resources Inc. (OTCQB: VRDR) Verde Resources, Inc., a commercial producer and wholesaler of regenerative compost, announced today that it will establish a processing and packaging facility in La Belle, investing more than $5.6 million and creating 32 new jobs. The company will establish a line using its Biofraction™ technology, capable of processing 100 tons of organic bio-waste per day into sources of renewable commodities.
“Our state is a leader in the growing agricultural technology sector, and we’re thrilled to see innovative companies like Verde Resources investing in Missouri,” said Governor Mike Parson. “This company’s expansion will enhance our critically important agriculture industry while creating quality jobs in our rural north region. Verde Resources is a welcome addition to a growing list of cutting-edge agtech companies who see Missouri as a prime location for growth.”
Verde Resources will work alongside dairy farms across the nation to produce biochar-infused, organic compost, a solution for reducing greenhouse gases produced by the dairy and livestock industries. Verde Resources’ technology converts organic waste into renewable resources in a carbon-neutral environment. The company will also create and distribute regenerative compost , an organic blend of biochar (a charcoal made from bio-waste), wood vinegar, and bio syn-gas.
“We are very excited about the future of La Belle, Missouri. Verde will be the go-to green company in the Midwest for forward thinking soil and climate solutions,” Carl Craven, Director of Verde Resources, said. “We can make an immediate impact on the local farming industries, addressing several factors affecting the soil and environment. Processing biochar and regenerative compost will tackle the dairy industry’s waste issues while addressing the world’s emissions problems.”
Verde Resources’ new site is located at a former processing and packaging facility in La Belle, and will begin operation in early 2022. The company is committed to a cleaner environment through regenerative agriculture, an approach to farming that manages topsoil and improves water, air, and soil quality. Biochar is a key component of Verde Resources’ organic compost and important to regenerative agriculture due to its carbon-capturing properties. The company’s technology also aims to improve soil fertility while promoting higher crop yields.
“Missouri’s vibrant agtech sector has a positive impact on countless lives nationally and internationally,” Department of Economic Development Acting Director Maggie Kost said. “We’re proud that Verde Resources chose to be a part of Missouri’s agriculture legacy, and we look forward to working together to drive innovation and growth for years to come.”
For this expansion, Verde Resources used the Missouri Works program, a tool that helps companies expand and retain workers by providing access to capital through withholdings or tax credits for job creation.