Power Leaves Corp. Gains Regulatory Approval for New Coca-Based Fertilizer
A manufacturer of decocainized coca leaf extract Power Leaves Corp. (PLC) has received approval from the Instituto Colombiano Agropecuario (ICA) to begin domestic sales of its new bulk fertilizer product. The ICA, Colombia’s equivalent to the USDA, has approved the product consisting of 24% shredded coca leaves by weight.
Pat McCutcheon, Co-Founder & CEO of Power Leaves Corp., expressed satisfaction over the ICA registration, stating it as a milestone in the company’s journey toward ethical and sustainable business practices. The registration allows the firm to tap into an additional revenue stream while validating its coca-based products’ commercial viability.
PLC is also in the process of developing a second fertilizer additive, sourced from the byproducts of its decocainization operation. This innovative approach could potentially turn waste material into revenue, positioning the company to leverage the growing $200 billion global fertilizer industry.
Colombia consumes around 2 million tons of fertilizer annually, with a 22% market share held by Russian products. The approval gives PLC a favorable position to become a key supplier in the Colombian market, substituting some Russian fertilizers on the market.
Colombian governmental support for PLC has been notable, including endorsements from President Gustavo Petro Urrego and Vice President site visits. PLC is also a part of Colombia’s National Development Plan and has entered into an agreement with Agrosavia, the Colombian Government’s agricultural arm, potentially positioning the company as a significant player in the burgeoning coca industry.