Replenish Nutrients Provides 2025 Year-in-Review and 2026 Outlook

Executive Summary

• Replenish Nutrients highlighted completion of the Beiseker granulation facility commissioning, achieving sustained production rates of 4–5 t/h and positioning for ~2,000 t/month full‑scale output.
• The company signed two capital‑light licensing agreements (MJ Ag Solutions in Canada; Farmers Union Enterprises in the U.S. Midwest) that could generate CAD $40–$60/mt or USD $40–$60/mt of revenue on volumes up to 100,000 t/yr without additional capex.
• Completed approximately $5.6 M of debt and equity financing in 2025, settled legacy trade payables, and reported improving gross profit and adjusted EBITDA in Q3 2025.

Key Details

• Beiseker Facility: Construction, automation, and commissioning substantially completed; hourly production sustained at 4–5 metric tonnes per hour; target full‑scale capacity ≈2,000 t/month once 24‑hour operations and load‑out systems are in place.
• Product Expansion: Launched “Replenish 1” retail lawn & garden granulated fertilizer across Western Canada; introduced a new patented pelletized fertilizer product to broaden addressable market and reduce manufacturing complexity/cost.
• MJ Ag Solutions Licensing (Northern AB & BC): Partner will fund all capex, operate a 10,000 t/yr facility; Replenish supplies formulas, technical support, transitional working‑capital financing; expected earnings CAD $40–$60 per metric tonne sold.
• Farmers Union Enterprises Licensing (U.S. Midwest): Partner will fund capex, operate an initial 50,000 t/yr plant scalable to 100,000 t/yr; Replenish provides formulas, technical support, transitional financing; expected earnings USD $40–$60 per metric tonne sold.
• Financing Activity (2025): Approximately $5.6 M raised via debt and equity instruments; proceeds used for Beiseker upgrades, liquidity enhancement, and minimal share dilution.
• Balance‑Sheet Improvements: Significant settlement of legacy trade payables; strengthened supplier relationships; improved working‑capital stability.
• Financial Performance (Q3 2025): Year‑to‑date improvements in fertilizer segment gross profit and adjusted EBITDA driven by better pricing spreads and disciplined cost control despite seasonal revenue variability.
• Industry & Policy Context: Cited Canadian Alliance for Net‑Zero Agri‑Food’s “Million Acre Challenge,” USDA $700 M Regenerative Pilot Program, and major food‑service commitments (PepsiCo, McCain Foods, McDonald’s) as macro trends supporting regenerative agriculture adoption.
• 2026 Outlook – Production: Aim to achieve full‑scale commercial operations at Beiseker, sustain target capacity, increase sales volumes, and leverage scale for lower unit costs and margin expansion.
• 2026 Outlook – Licensing Revenue Ramp: Begin transitional production under MJ Ag and Farmers Union agreements; anticipate volume growth as partner facilities commission and ramp. Potential to expand Farmers Union production beyond initial Minnesota site into additional member states.
• Future Financing & Projects: Evaluating financing/strategic partnerships for planned DeBolt and Bethune facilities; pursuing Emissions Reduction Alberta (ERA) grant funding to support DeBolt economics/timing.
• Capital Allocation Priorities: Focus on working‑capital management, operating cost discipline, cash‑flow generation, and optimizing debt/equity mix for shareholder risk‑adjusted returns.

Notable Quotes

“2025 was a year of execution and foundation‑building for Replenish,” said Neil Wiens, CEO. “We advanced Beiseker toward full commercial operations, expanded our licensing strategy, and remained actively engaged in industry dialogue around soil health and regenerative agriculture.”