Desert Control presentation April 13th 2021
Desert Control prepares for listing on 14. April at the Euronext Growth index of the Oslo Stock Exchange under the ticker DSRT. Tuesday 13. April 2021 at 11.00 CEST, CEO Ole Kristian Sivertsen presents the company live via Xtrainvestor / inQrate. Tormod Andreassen at Stavanger Chamber of Commerce (Næringsforeningen i Stavanger) is moderating the event. Desert Control is a climate technology company specialized in reclaiming degraded soil and turning desert sand into fertile soil. Their patented product LNC (Liquid Natural Clay) is a liquid clay compound that enables sand and degraded soil to retain water and nutrients. LNC increases crop yields, while consumption of water and fertilizer decreases by up to 50%. The company was established in September 2017 based on 12 years of R&D and field trials. From 2018 to 2019, the focus was to conduct scientific validation of the LNC solution through an independent research organization (ICBA, International Center for Biosaline Agriculture). After successful validation, the company raised NOK 42 million in December 2019 to invest in technology development for cost-efficient volume production of LNC. In 2020 the company developed its first prototype technology proving the capability of LNC volume production and is now ready to scale up. Prior to the Euronext Growth listing, the company raised NOK 200 million in a private placement managed by Arctic Securities and Sparebank 1 SR-Bank Markets as co-manager. The process received significant interest from Norwegian and international investors focusing on ESG, sustainability, and green innovation. The capital will finance the company’s growth plan and commercial rollout in the United Arab Emirates before entering the United States and other key markets.