ACCESSWIRE
11 May 2022, 03:25 GMT+10
TORONTO, ON / ACCESSWIRE / May 10, 2022 / ITOCO INC. (OTC PINK:ITMC) is pleased to announce it has acquired 49 % of Colorful Euphoria, Lda.
Colorful Euphoria, Lda is a Portuguese company that operates via joint venture 100 hectares of farm land in the Alentejo region of Portugal. Itoco intends to expand this land position and create an Agro Park focused on advancing a 'Soil Rescue Program'.
Nopal Cactus are being grown effectively and profitably in this region with a focus on producing Prickly Pear juice concentrate.
Itoco and Colorful Euphoria have mutually developed a program whereby Nopal Cactus is introduced into an area as the first step toward overall land rehabilitation while at the same time creating sustainable profitable farming operations - 'Soil Rescue Program'.
The roots of the Nopal Cactus help water retention in the soil, thereby creating a crucial first step for other plants to grow. In a relatively short period of time, entire ecosystems can recover as water supplies stabilize.
In addition, programs of this type can create significant Carbon Credits. Nopal Cactus is very effective at removing carbon from the atmosphere permanently.
Itoco is capitalizing on Nopal farming innovations that leverage the Cacti's superb adaptation to dry and arid landscapes, which include fixing carbon dioxide at night and closing the spores (stomata) during the day, thus potentially earning producers carbon credits at an accelerated pace.
Nopal Cactus is able to trap up to 30 tons of carbon dioxide per hectare per year.
The Cactus is also able to offer strong vegetative cover against erosion or desertification while being able to tolerate a wide range of temperatures and to thrive in water limited environments. It is characterized by a wide-spreading fibrous roots system allowing it to access surface water and its succulent stems and pads store large quantities of water per hectare.
Itoco has purchased 49% of the shares of Colorful Euphoria for EUR €5,000,000.00.
About ITOCO Inc:
ITOCO's mission is to be a global leader in developing, distributing, and producing Bio Tech related technologies and methodologies in a compliant environmentally friendly manner. ITOCO Inc. trades on the OTC Markets, symbol: ITMC. ITOCO is a 14-year-old publicly quoted specialty Bio Tech development, production and distribution company based in Toronto Canada and Nevada USA. ITOCO seeks to partner with outstanding individuals and companies within this field to joint venture, research, and co-develop Bio Tech related products and technologies to the market.
CONTACT:
Michael Paul, C.E.T.
President & CEO
ITOCO INC
ir@itoco.net
+1-800-805-1521
www.itoco.net
SOURCE: ITOCO Inc.
Get a daily dose of Nashville Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Nashville Herald.
More InformationTOKYO, Japan: U.S. President Joe Biden said this week that he supports calls for Japan to become a permanent member ...
LONDON, England: The UK's Telegraph newspaper has reported that Foreign Secretary Liz Truss has proposed that Britain send modern weaponry ...
SHANGHAI, China: The central Shanghai district of Jingan, a key commercial area in China's financial hub, has announced that it ...
KYIV, Ukraine: Andrzej Duda, President of Poland, told lawmakers in Kyiv this week that Ukraine has the right to decide ...
SAN ANTONIO, Texas (ANI/Big News Network): The death toll in the mass shooting incident at a school in Texas now ...
LONDON, England: Citing a U.S. official, the Financial Times reported this week that during the Quad summit in Tokyo, the ...
NEW YORK CITY, New York: The market for global online tutoring services is expected to grow from $21 million in ...
SYDNEY, NSW, Australia - Shares across Asia fell on Thursday, with the exception of the Chinese mainland market where modest ...
SANTIAGO, Chile: Easter Island, one of Chile's most important tourist attractions, will reopen to visitors on August 1, the government ...
NEW DEHLI, India: In a move expected to end the country's exports of the raw materials needed to manufacture steel, ...
NEW YORK, New York - The release of the minutes of the Federal Reserve's monetary meeting earlier this month surprisingly ...
WASHINGTON D.C.: A leading U.S. official has said that even if Taiwan is excluded from President Joe Biden's Asian economic ...