TORONTO, April 23, 2021 (GLOBE NEWSWIRE) — EarthRenew Inc. (CSE: ERTH; OTCQB: VVIVF) (“ EarthRenew ” or the “ Company ”), a Canadian company focused on regenerative agriculture solutions with a secondary revenue source from electricity production, today announced it has just signed a power sales agreement with a cryptocurrency mining company to provide off-peak power over a 5-year term for the purposes of cryptocurrency mining. This agreement allows for the potential for further revenue generation from EarthRenew’s power generating asset, the 4 MW Rolls Royce turbine.

The agreement provides the cryptocurrency mining company access to a portion of the Company’s power production and still allows EarthRenew to take advantage of power peaking opportunities. As a result of the power sales agreement, revenue for power generation at the Strathmore facility is now forecast to exceed $1.3 million dollars for the 2021 calendar year, up from $506k for 2020. The corresponding gross margin for 2021 is estimated at 40%.

See full article at www.financialpost.com/globe-newswire/earthrenew-announces-a-power-sales-agreement-with-a-cryptocurrency-mining-firm