- Trigall Genetics will own 80% of the newly created
Australian company, Trigall Australia.
- Trigall Australia will develop and market high-performing
wheat varieties for all Australian wheat production areas,
leveraging S&W's existing commercial footprint, Bioceres Crop
Solutions' technologies, and Florimond
Deprez's breeding expertise.
- Trigall Australia will be the priority platform for
Florimond Desprez and Bioceres Crop
Solutions to market their genetics and traits in Australia
ADELAIDE, Australia and MONTEVIDEO, Uruguay and ROSARIO, Argentina and LONGMONT, Colo., Jan. 3, 2023
/PRNewswire/ -- Trigall Genetics, the world leader in wheat
biotechnology co-owned by Bioceres Crop Solutions (Nasdaq: BIOX)
and Florimond Desprez, and S&W
Seed Company (Nasdaq: SANW), a leading middle-market agricultural
company, have entered into a joint venture to advance wheat
breeding activities in Australia.
Trigall Australia will develop and market high performing wheat
varieties for the Australian market, leveraging S&W's existing
commercial footprint and Florimond
Desprez's and Bioceres Crop Solutions' breeding expertise.
The program will encompass both conventional and transgenic
varieties, including Bioceres Crop Solutions' drought-tolerance
HB4® technology and EcoWheat® technologies, that can
contribute to improving yields in a region whose productivity has
been increasingly affected by drought and soil salinization. The
new breeding program is expected to benefit from the introduction
of top tier genetics from Florimond
Desprez and Trigall Genetics worldwide breeding programs,
combined with state-of-the-art facilities to accelerate genetic
gain for the region.
For Trigall Genetics the joint venture is part of its
international expansion strategy into major wheat producing
regions, as it will gain access to S&W's Australia-adapted genetic materials, adding to
its existing germplasm library from Europe and MENA through Florimond Desprez and South America from Bioceres Crop
Solutions.
François Desprez, president of Trigall Genetics and Florimond Desprez commented: "Through this JV,
Florimond Desprez continues with the
internationalization of its wheat breeding activities. We believe
the company's accumulated knowledge and skills in terms of breeding
techniques will boost the existing platform developed by S&W
Seed in Australia to serve the
needs of local growers and grain industry."
Mark Wong, CEO of S&W Seed
added: "We are excited to enter this JV to combine our commercial
footprint with the unique technologies and expertise of our
partners."
About Trigall Genetics
Trigall Genetics is a joint venture between Bioceres Crop
Solutions (Nasdaq: BIOX) and Groupe Florimond Desprez for the
development of wheat varieties. Bioceres Crop Solutions is a
fully-integrated provider of crop productivity solutions, including
high-impact, patented technologies for seeds and microbial
ag-inputs, as well as next-generation crop nutrition and protection
solutions, each of which offers substantial economic and
environmental benefits and are anchored by the HB4® technology,
which is behind the world's only drought-tolerant soybeans and
wheat. Florimond Desprez is a French
independent family-owned breeding company that operates in 65
countries, devotes 15% of its turnover to R&D, and employs
1,200 persons worldwide. Florimond
Desprez is an active player of the agroecology transition
and works mainly on crops intended for human consumption ‒ a world
leader in sugar beet seeds, a leading European cereal breeder, and
a major player in the European seed potato market. For more
information, please visit www.trigall.com.
About S&W Seed
Founded in 1980, S&W Seed Company is a global agricultural
company headquartered in Longmont,
Colorado. S&W's vision is to be the world's preferred
proprietary seed company which supplies a range of forage and
specialty crop products that supports the growing global demand for
animal proteins and healthier consumer diets. S&W is a global
leader in proprietary alfalfa, sorghum, and pasture seeds, with
significant research and development, production, and distribution
capabilities. S&W's product portfolio also includes hybrid
sunflower and wheat, and the company is utilizing its research and
breeding expertise to develop and produce stevia, the all-natural,
zero-calorie sweetener for the food and beverage industry. For more
information, please visit www.swseedco.com.
S&W Seed Safe Harbor
Statement
This release contains "forward-looking statements" of S&W
Seed Company within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended and such forward-looking statements are
made by S&W Seed Company pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995.
"Forward-looking statements" describe future expectations, plans,
results, or strategies and are generally preceded by words such as
"may," "future," "plan" or "planned," "intend", "will" or "should,"
"expect," "anticipates," "draft," "eventually" or "projected."
Forward-looking statements of S&W Seed in this release include
but are not limited to statements regarding the development and
marketing strategy of the joint venture, including the anticipated
contributions from Florimond
Desprez, Trigall Genetics and S&W Seed Company to the
joint venture and their expected benefits. You are cautioned that
such statements are subject to a multitude of risks and
uncertainties that could cause future circumstances, events, or
results to differ materially from those projected in the
forward-looking statements, including the risk that the joint
venture may not provide the anticipated benefits. These and other
risks are identified in S&W's filings with the Securities and
Exchange Commission, including, without limitation, S&W's
Annual Report on Form 10-K for the year ended June 30, 2022 and in other filings subsequently
made by the Company with the Securities and Exchange Commission.
All forward-looking statements contained in this press release
speak only as of the date on which they were made and are based on
management's assumptions and estimates as of such date. S&W
does not undertake any obligation to publicly update any
forward-looking statements, whether as a result of the receipt of
new information, the occurrence of future events or otherwise.
PRESS CONTACTS
Trigall Genetics
Paula Savanti,
Investor Relations, Bioceres Crop Solutions
investorrelations@biocerescrops.com
S&W Seed Contacts
Betsy
Horton, CFO
Phone: (720) 593-3570
www.swseedco.com
Robert Blum, Investor
Relations
Phone: (602) 889-9700
sanw@lythampartners.com
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SOURCE S&W Seed Company