ICL Expands Potassium Nitrate Supply Arrangement with Haldor Topsoe

Rhea-AI Summary

ICL (NYSE: ICL, TASE: ICL), a global specialty minerals company, announced plans to expand its commercial relationship with Haldor Topsoe to establish a long-term supply arrangement for potassium nitrate (NOP), essential for high-value crop fertilization. The partnership aims to incorporate Topsoe’s materials into ICL’s supply chain starting Q1 2022, while maintaining existing supplier relationships. Both companies emphasize sustainability, aiming to support customers' renewable energy transitions through advanced technologies.

Positive

• Expansion of supply agreement with Haldor Topsoe for potassium nitrate.
• Increased sourcing of potassium nitrate expected to enhance fertilizer offerings.
• Partnership emphasizes sustainability and commitment to reducing carbon emissions.

Negative

• None.

TEL AVIV, Israel--(BUSINESS WIRE)-- ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, today announced its intention to expand its current commercial relationship with Haldor Topsoe and is looking forward to entering into a long-term supply arrangement for potassium nitrate. Potassium nitrate, also known as NOP, is a soluble source of two major essential plant nutrients – nitrogen and potassium – and is commonly used as a fertilizer for high-value crops.

ICL expects to expand its NOP sourcing from Haldor Topsoe and begin marketing product in the first quarter of 2022, as it further integrates Topsoe material into its global supply offerings. The company also expects to maintain its other existing potassium nitrate supplier relationships, as part of its global specialty fertilizers market strategy.

“Haldor Topsoe has been a trusted supplier for the past several years, and this arrangement expands our existing relationship and allows both of us to advance our sustainability efforts,” said Heinrich Berger, vice president of global raw materials procurement for ICL. “As a Together for Sustainability (TfS) supplier, Haldor Topsoe has demonstrated its commitment to integrating sustainability performance metrics into their business – just as ICL has – and we are proud to partner with them.”

“We want to help our customers in their renewable energy transition, by offering carbon emission reduction technologies,” said Lars Skyum, senior vice president at Haldor Topsoe. “Since ICL is the expert in specialty fertilizers, we are very satisfied they will be off-taking our potassium nitrate, which will then be fully and efficiently used to fertilize much-needed crops on a global basis.”

About ICL

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 totaled approximately $5.0 billion.

For more information, visit ICL's website at www.icl-group.com.

To access ICL's interactive Corporate Social Responsibility report, please click here.

You can also learn more about ICL on Facebook, LinkedIn and Instagram.

About Haldor Topsoe

Haldor Topsoe is a global leader in supply of catalysts, technology, and services to the chemical and refining industries. Topsoe aims to be the global leader within carbon emission reduction technologies by 2024. By perfecting chemistry for a better world, we enable our customers to succeed in the transition towards renewable energy. Topsoe is headquartered in Denmark and serves customers around the globe. In 2020, our revenue was approximately DKK 6.2 billion, and we employ around 2,100 employees. www.topsoe.com

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Investor Relations Contacts

Peggy Reilly Tharp

VP, Global Investor Relations

+1-314-983-7665

Peggy.ReillyTharp@icl-group.com

Dudi Musler

Director, Investor Relations

+972-3-684-4448

Dudi.Musler@icl-group.com

Press Contact

Adi Bajayo

Scherf Communications

+972-52-4454789

Adi@scherfcom.com

Source: ICL Group LTD

FAQ

What is ICL's new supply arrangement with Haldor Topsoe?

ICL plans to establish a long-term supply agreement for potassium nitrate with Haldor Topsoe, enhancing its fertilizer offerings.

When will ICL start marketing potassium nitrate?

ICL expects to begin marketing potassium nitrate in the first quarter of 2022.

How does ICL's partnership with Haldor Topsoe focus on sustainability?

Both companies aim to advance sustainability efforts by integrating performance metrics and providing technologies for carbon emission reduction.

What are the key benefits of the potassium nitrate supply arrangement for ICL?

The arrangement is anticipated to bolster ICL's fertilizer offerings and align with sustainability goals in the agricultural sector.