Bioceres Crop Solutions Announces Brazil´s Regulatory Approval of Drought Tolerant HB4® Wheat for Commercialization and Cultivation
03 Marzo 2023 - 7:00AM
Business Wire
Bioceres Crop Solutions Corp. (Bioceres) (NASDAQ: BIOX),
a fully integrated global provider of crop productivity solutions
designed to enable the transition of agriculture toward carbon
neutrality, announced today that CTNBio, the National Biosafety
Commission of Brazil´s Ministry of Science, Technology, and
Innovation, has concluded the safety evaluation of HB4 Wheat,
providing full approval for commercialization and cultivation in
Brazil.
Today’s approval builds on Brazil’s previous approval for food
and feed use of HB4 Wheat flour in November 2021. In addition to
opening the Brazilian market to the technology, the decision clears
the path for commercialization in Argentina through channels other
than Bioceres’ identity-preserved HB4 Program.
The approval also enables the acceleration of Bioceres’
collaboration with EMBRAPA (Brazil’s Agricultural Research
Corporation) to develop subtropical wheat varieties to increase the
supply of local materials in this geography. HB4 Wheat offers the
potential for double cropping – rotating wheat with a summer legume
– in regions of the country that are currently limited by water
availability.
The HB4 technology is a key tool in the adaptation of farming
systems to a more extreme climate, having already proven to deliver
more than 40% yield increases in environments under severe water
stress, based on results from Argentina’s recent drought-affected
crop. This approval paves the way for the technology to deliver
$15-$20 million in incremental EBITDA by FY24, as previously
communicated.
Brazil is the second country where regulatory agencies have
cleared HB4 Wheat for cultivation, after Argentina, and completes
the approval processes for the company´s wheat target markets in
Latin America. Brazil plants 2-3 million hectares of wheat annually
and, together, both countries plant 90% of South America’s wheat
acreage. HB4 Wheat is also approved for food and feed use in the
United States, Colombia, New Zealand, Australia, South Africa and
Nigeria, and for feed use in Indonesia.
About Bioceres Crop Solutions Corp.
Bioceres Crop Solutions Corp. (NASDAQ: BIOX) is a fully
integrated provider of crop productivity technologies designed to
enable the transition of agriculture towards carbon neutrality. To
do this, Bioceres’ solutions create economic incentives for farmers
and other stakeholders to adopt environmentally friendlier
production practices. The Company has a unique biotech platform
with high-impact, patented technologies for seeds and microbial
ag-inputs, as well as next generation crop nutrition and protection
solutions. Through its HB4 program, the Company is bringing digital
solutions to support growers’ decisions and provide end-to-end
traceability for production outputs. For more information, visit
here.
Forward-looking statements
This communication includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
“forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,”
“expect,” “estimate,” “plan,” “outlook,” and “project” and other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. Such
forward-looking statements are based on management’s reasonable
current assumptions, expectations, plans and forecasts regarding
the Company’s current or future results and future business and
economic conditions more generally. Such forward-looking statements
involve risks, uncertainties and other factors, which may cause the
actual results, levels of activity, performance or achievement of
the Company to be materially different from any future results
expressed or implied by such forward-looking statements, and there
can be no assurance that actual results will not differ materially
from management’s expectations or could affect the Company’s
ability to achieve its strategic goals, including the uncertainties
relating to the impact of COVID-19 on the Company’s business,
operations, liquidity and financial results and the other factors
that are described in the sections entitled “Risk Factors” in the
Company's Securities and Exchange Commission filings updated from
time to time. The preceding list is not intended to be an
exhaustive list of all of our forward-looking statements.
Therefore, you should not rely on any of these forward-looking
statements as predictions of future events. All forward-looking
statements contained in this release are qualified in their
entirety by this cautionary statement. Forward-looking statements
speak only as of the date they are or were made, and the Company
does not intend to update or otherwise revise the forward-looking
statements to reflect events or circumstances after the date of
this release or to reflect the occurrence of unanticipated events,
except as required by law.
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Bioceres Crop Solutions Paula Savanti Head of Investor
Relations investorrelations@biocerescrops.com
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