It is also called stone-wool, which is a growing media used in horticulture.
It is made from chalk (CaCO3) and basalt rock.
It is manufactured by heating the chalk and basalt rock at high temperature, so the chances of fungi & bacteria getting into it is very less thereby serving as a better growing media for plants.
It is used as a growing media for plants in absence of soil (hydroponics).
Such a technique uses less water than traditional soil-based systems and allows faster growth and higher yields.