Nousbo and SK leaveo Sign MOU to Commercialize Biodegradable Controlled Release Fertilizers

2024-05-27

Aims to commercialize controlled release fertilizers (CRF) with eco-friendly biodegradable resin coatings, utilizing world-class CRF production technology.

Jointly develop a business model targeting the global fertilizer market by utilizing both companies' technologies and networks.

▲ SK leaveo and Nousbo Sign MOU

On May 24th, Nousbo signed a Memorandum of Understanding (MOU) with SK leaveo, an eco-friendly materials investment subsidiary of SKC, at SKC's headquarters for the commercialization of eco-friendly controlled release fertilizers (CRF).

Nousbo, which was listed on KOSDAQ in 2022 based on its CRF production technology, holds a world-class level of sigmoid-type CRF technology that adjusts fertilizer release according to the growth curve of crops. The CRF produced by Nousbo significantly reduces labor compared to conventional fertilizers that require multiple applications. It also reduces the amount of fertilizer used, preventing salt damage, reducing greenhouse gas emissions, and decreasing river water pollution.

Through this MOU, Nousbo plans to utilize its expertise in planning, production, and marketing strategies to align with global fertilizer market trends. SK leaveo will focus on developing biodegradable resins for the production of coated fertilizers, aiming to launch new products by the first quarter of 2025. They plan to apply biodegradable resins suitable for fertilizer release control to lead the domestic and international markets.

Recently, SK leaveo has been actively engaged in the eco-friendly materials business, having held a groundbreaking ceremony for a PBAT material production plant in the Haiphong Economic Zone in Vietnam. This facility reportedly has an annual production capacity of 70,000 tons. PBAT, known as "degradable plastic," can replace traditional plastics and naturally decompose by microorganisms when buried, reducing environmental waste problems.

With the continuous increase in overseas demand for the controlled release fertilizers, Nousbo expanded its production facilities last year to achieve an annual production capacity of 20,000 tons. In Europe, where the use of biodegradable resins in fertilizer production is being legally reviewed due to environmental concerns, Nousbo will maximize the advantages of both companies through the practical research conducted with the Rural Development Administration on the development of eco-friendly biodegradable resin-coated fertilizers. Nousbo aims to lead the global market and strengthen ESG management.