04/19/2021 | Press release | Distributed by Public on 04/19/2021 07:03
Corteva to offer biological solution in United States, Canada, Brazil and Argentina
WILMINGTON, Del., USA and MURCIA, Spain, April 19, 2021 - Corteva Agriscience and Symborg, an expert in microbiological technologies, announced today a multi-year agreement around a microbe-based nitrogen fixation product in the United States, Canada, Brazil and Argentina.
Through the agreement, Symborg is providing an exclusive distribution license to Corteva for the endophytic bacterium Methylobacterium symbioticum, which works with the plant to secure needed nitrogen from the atmosphere. Corteva is leveraging its wide distribution network, market reach and extensive research and development capabilities.
The Corteva product, to be branded as Utrisha™ N nutrient efficiency optimizer, works in natural field conditions, adapting to the plants' growth needs and helping to sustainably maximize crop yield potential. It will be available for a broad range of crops, including field and row crops, sugar cane, and turf and ornamental, as well as range and pasture. The agreement also enables Corteva and Symborg to co-distribute the product in specialties crops on an exclusive basis.
'Corteva Agriscience continues to bring new and innovative solutions to market by offering natural-origin products that work complementarily with our conventional crop protection solutions, such as Optinyte™ nitrogen stabilizer,' said Susanne Wasson, President, Crop Protection Business Platform, Corteva Agriscience. 'We're excited to work with Symborg to scale up and maximize sustainable options that help farmers meet changing environmental conditions while keeping their crops productive and healthy.'
This collaboration represents another step forward for Corteva's expanding global Biologicals portfolio, which is dedicated to developing biostimulants, biocontrol and pheromone products with proven, predictable performance. Utrisha™ N, a BlueN™ technology powered by Symborg, will provide value through integrated nutrition management efficiency and enhancing yield potential and sustainability, in line with the Corteva Agriscience 2030 Sustainability Goals.
'Our goal at Symborg is to transform agriculture while helping farmers combine profitability and sustainability. With our innovative biotechnological solutions, we want to bridge the gap between the current agricultural model that is starting to urgently demand changes and the model that is yet to come,' explains Jesús Juárez, founding partner and CEO of Symborg. 'It is exciting to establish a collaboration agreement with Corteva, a company with which we share values such as innovation, sustainability and proximity to the farmer.'
Terms of the agreement were not disclosed.
Corteva, Inc. (NYSE: CTVA) is a publicly traded, global pure-play agriculture company that provides farmers around the world with the most complete portfolio in the industry - including a balanced and diverse mix of seed, crop protection and digital solutions focused on maximizing productivity to enhance yield and profitability. With some of the most recognized brands in agriculture and an industry-leading product and technology pipeline well positioned to drive growth, the company is committed to working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. Corteva Agriscience became an independent public company on June 1, 2019, and was previously the Agriculture Division of DowDuPont. More information can be found at www.corteva.com.
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Symborg is a biotechnology company in the agricultural sector that help farmers to maximize crop yields with minimum resources, contributing to a more sustainable agriculture. Symborg develops, manufactures and markets innovative biostimulants and biofertilizers for all types of crops and agricultural systems, increasing nutrient use efficiency, improving crop strengthening, crop's physiological activity and tolerance to stress, thus optimizing and increasing its harvest potential and fruit quality. Due to its significant commitment to research development and innovation, Symborg has established itself as a leading agribusiness company delivering biological solutions. It currently has offices in Spain and Portugal, France, the USA, Brazil, Mexico, Chile, Peru, Turkey and China.
More information can be found at www.symborg.com.
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This communication contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, which are intended to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and may be identified by their use of words like 'plans,' 'expects,' 'will,' 'anticipates,' 'believes,' 'intends,' 'projects,' or other words of similar meaning. All statements that address expectations or projections about the future, including statements about Corteva's growth, product development, and sustainability goals, are forward-looking statements.
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