Dow Agro enters seed tech deal
- Fri, 2015-06-12 (All day)
Dow AgroSciences LLC has partnered with two other firms to create super soybean seeds.
The Indianapolis-based ag biotech firm will combine its technology that renders seeds resistant to herbicides and insects with the other companies’ soybean traits that make plants more productive, use less water and nitrogen, and withstand such stresses as heat and salt.
The other companies—California-based Arcadia Biosciences Inc. and Argentina-based Bioceres S.A.—formed their own joint venture in 2012, called Verdeca.
Now the three companies will work to combine, or “stack,” all their seeds’ traits using Dow’s technology platform called EXZACT.
“Soybean farmers are looking for productivity, and this collaboration holds great promise for the technology we can offer them,” said Dow Agro CEO Tim Hassinger. “Our own expertise, combined with Arcadia’s leadership position in abiotic stress traits and Bioceres’ strong relationship with large soybean growers, presents a unique opportunity for greater yields.”
Financial terms of the partnership were not disclosed.
Dow AgroSciences’ seed business has grown rapidly since 2010, totaling more than $1.6 billion in sales each year. It represents more than one-fifth of Dow Agro’s $7.3 billion in annual revenue.