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.
About Corteva
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.
Follow Corteva Agriscience on Facebook, Instagram, LinkedIn, Twitter and YouTube.
About Symborg
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.
Follow Symborg on Facebook, LinkedIn, Instagram, Twitter and YouTube.
# # #
Cautionary Statement About Forward-Looking Statements
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.
Forward-looking statements are based on certain assumptions and expectations of future events which may not be accurate or realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond Corteva's control. While the list of factors presented below is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Corteva's business, results of operations and financial condition. Some of the important factors that could cause Corteva's actual results to differ materially from those projected in any such forward-looking statements include: (i) failure to obtain or maintain the necessary regulatory approvals for some of Corteva’s products; (ii) failure to successfully develop and commercialize Corteva’s pipeline; (iii) effect of the degree of public understanding and acceptance or perceived public acceptance of Corteva’s biotechnology and other agricultural products; (iv) effect of changes in agricultural and related policies of governments and international organizations; (v) effect of competition and consolidation in Corteva’s industry; (vi) effect of competition from manufacturers of generic products; (vii) costs of complying with evolving regulatory requirements and the effect of actual or alleged violations of environmental laws or permit requirements; (viii) effect of climate change and unpredictable seasonal and weather factors; (ix) risks related to oil and commodity markets; (x) competitor’s establishment of an intermediary platform for distribution of Corteva's products; (xi) impact of Corteva's dependence on third parties with respect to certain of its raw materials or licenses and commercialization; (xii) effect of industrial espionage and other disruptions to Corteva’s supply chain, information technology or network systems; (xiii) effect of volatility in Corteva’s input costs; (xiv) failure to realize the anticipated benefits of the internal reorganizations taken by DowDuPont in connection with the spin-off of Corteva and other cost savings initiatives; (xv) failure to raise capital through the capital markets or short-term borrowings on terms acceptable to Corteva; (xvi) failure of Corteva’s customers to pay their debts to Corteva, including customer financing programs; (xvii) increases in pension and other post-employment benefit plan funding obligations; (xviii) risks related to the indemnification obligations of legacy E. I. du Pont de Nemours and Company liabilities in connection with the separation of Corteva; (xix) effect of compliance with laws and requirements and adverse judgments on litigation; (xx) risks related to Corteva’s global operations; (xxi) failure to effectively manage acquisitions, divestitures, alliances and other portfolio actions; (xxii) risks related to COVID-19; (xxiii) risks related to activist stockholders; (xxiv) failure to enforce Corteva’s intellectual property rights or defend against intellectual property claims asserted by others; (xxv) effect of counterfeit products; (xxvi) Corteva’s dependence on intellectual property cross-license agreements; and (xxvii) other risks related to the separation from DowDuPont. Additionally, there may be other risks and uncertainties that Corteva is unable to currently identify or that Corteva does not currently expect to have a material impact on its business. Where, in any forward-looking statement an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of Corteva's management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. Corteva disclaims and does not undertake any obligation to update or revise any forward-looking statement, except as required by applicable law. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements or other estimates is included in the "Risk Factors" section of Corteva's Annual Report on Form 10-K.
04/19/21
TM ® SM Trademarks and service marks of Corteva Agriscience and its affiliated companies, except BlueN™, trademark of Symborg.
Media contacts
Corteva Agriscience
Kacey Birchmier
kacey.birchmier@corteva.com
Mobile: 515-305-0085
Symborg
María Luisa Lucas
marialuisalucas@symborg.com
M: +34 644 373 761
T.+34 968 899 250