Syngenta and Novozymes to work on joint venture
2012-04-25 17:30:33
It was announced today that Syngenta and Novozymes have completed a global agreement, under which they will work on a joint venture to commercialise the Novozymes technology, JumpStart, a biological substance which when applied to seeds to increase phosphate solubility in the soil can add an average yield increase of 6-7%. The two companies will jointly develop the market for JumpStart in combination with Syngenta´s Seed Care portfolio on crops including cereals and corn. Although only currently sold in North America, it is hoped the agreement will extend the geographic potential of JumpStart, to the rest of the world. Phosphate, a nonrenewable resource, is essential for the growth and maintenance of healthy crops. Over the next five years the agricultural use of phosphate is predicted to grow by around 3% annually. With known reserves slowly being depleted, experts project that the use of phosphate needs to be more efficient to supply agricultural demand into the future. The market potential for seed-applied technologies to increase phosphate efficiency is estimated at over $100 million."We are pleased to enter into this agreement with Novozymes which marks a further addition to our growing range of bioactives. Our Seed Care portfolio already offers best-in-class control of insects and disease together with crop enhancement benefits. With the addition of JumpStart, growers will now gain the added advantage of improved phosphate efficiency," said John Atkin, COO Syngenta.
About Syngenta:
Syngenta is one of the world´s leading companies with more than 26,000 employees in over 90 countries dedicated to our purpose: Bringing plant potential to life. Through world-class science, global reach and commitment to our customers we help to increase crop productivity, protect the environment and improve health and quality of life.For more information on the Agriculture and Farming industry, see the latest reports: Agriculture & Farming reports