Syngenta and Novozymes Partner to Sell Phosphate Fertilizer
25 April 2012 Swiss seed and chemical maker Syngenta is teaming up with Novozymes, the Danish biotech firm, as they aim to break into new markets with a fertilizer that boosts phosphate solubility in soil.
Under terms of the global agreement, Syngenta will sell Novozymes’ technology JumpStart – a phosphate inoculant that grows along the root making more phosphate available to the plant.
The companies will jointly develop the market for JumpStart in combination with Syngenta’s Seed Care portfolio on crops, including cereals and corn. The agreement extends the potential geographic market worldwide for JumpStart, which is currently sold mainly in North America.
The product is based on the fungus Penicillium bilaii, which increases phosphate uptake into the plant through the root system. Syngenta estimates the market potential for seed-applied technologies to increase phosphate efficiency at more than $100 million.
John Atkin, chief operating officer of Syngenta, said: “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.”
Thomas Videbæk, vice president of Novozymes, added: “Partnering with Syngenta supports our strategic goal to provide the world with natural and biological solutions to help farmers worldwide increase yields to feed the world’s growing population.”
Source: Syngenta; edited by Jaclyn Sindrich, Managing Editor
Get The Newsletter Today!
