Agrinos Expands Its Relationship with Syngenta

Posted by |13 August 2012

Agrinos’ board of directors announced that Syngenta, through its subsidiary Syngenta Ventures Pte. Ltd., will invest USD $10 million (NOK 60,049,968 million) in Agrinos, a green technology company committed to improving the productivity and sustainability of modern agriculture. The net proceeds of the private placement will be used for working capital related to increased market penetration and for general corporate purposes.

In April of this year, Agrinos executives announced they had entered into an initial pre-commercial test phase with Syngenta to explore the viability of different product combinations, to be marketed as new offerings by Syngenta. The trial results to date have supported a decision to expand the cooperation and initiate commercial discussions.

The expanded agreement will enable Syngenta to bring Agrinos products to market either in combination with existing Syngenta technologies or on a stand-alone basis starting in the first quarter of 2013. Simultaneously, trials will continue within Europe, Middle East and Africa on further crops, and plans for new trials in the Asia Pacific and Americas regions will be developed. The results from these trials will form the basis for further commercial expansions within the cooperation.

This will be a significant first step for Agrinos in moving into the crop protection market from a biological platform. Agrinos’ strategy is to commercialize its HYTtechnology in key agricultural regions across the world.

“I am very proud that Syngenta has expanded its cooperation with Agrinos as this move will accelerate our current market penetration and growth,” said Agrinos Chief Executive Officer, Tom Einar Jensen. “Syngenta has significant experience and the power to drive the commercialization of our technology further in all markets. We are looking forward to capitalizing on their extensive knowledge base and global network.”