LONDON, April 9, 2013 /PRNewswire/ -- Based on its recent analysis of the pest control technology market, Frost & Sullivan recognises Oxitec Ltd. with the 2013 Europe New Product innovation Award for its groundbreaking Release of Insects carrying a Dominant Lethal (RIDL) system.
This novel product is the most environmentally-friendly and sustainable form of pest control currently available. It is highly effective against various pests and is ideal for use in integrated pest management (IPM).
"The use of Oxitec's products as part of IPM will enable crop growers to boost production and prevent crop loss to pests in an environmentally safe and sustainable manner," noted Frost & Sullivan Research Analyst Krishna Venkataramani. "Considering the challenges of a burgeoning world population and decreasing food production, Frost & Sullivan believes that Oxitec's eco-friendly offering comes at a critical juncture when other green innovations are reaching the end of their lifecycle."
The real value of the Oxitec system lies in the method of operation. Only species that cause disruption to food crops or which spread disease (for example, mosquitoes) are targeted.
"Unlike chemical alternatives that can seep into the earth and destroy water, soil, and even ecological balance, the RIDL system targets only specific pest species," remarked Venkataramani. "The fact that these species have a fixed lifespan indicates their presence only for a fixed period of time. This is in stark contrast to pest control chemicals that are retained in the environment for prolonged periods of time."
Through the use of modern biotechnology techniques, new generations of sterile insects are developed that cause a rapid decline, or even local elimination of the target species through unsuccessful reproduction.
Oxitec's technology is a step change to the traditionally used Sterile Insect Technique (SIT). One major drawback of SIT is that the method requires the use of radiation or chemicals on the targeted population.
This significantly reduces the fitness of the sterile population and its ability to compete for mates in the wild. Oxitec's products, in contrast, produce male species that are robust and can actively seek out native female populations.
"In addition, Oxitec insects all contain a protein marker that means that they can be easily and accurately monitored in the field. This allows both operational feedback and environmental monitoring. This is not the case with any other product in this market," stated Venkataramani.
Each year, Frost & Sullivan presents this award in acknowledgment of the innovative elements, leading-edge technologies and the value-added features and benefits offered by a company's product(s). The potential for increased customer ROI (small change) and customer acquisition/penetration is also considered during award selection.
Frost & Sullivan Best Practices awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
About Oxitec Ltd.
Oxitec is a pioneer in controlling insects that spread disease and damage crops. Its products build upon the use of the Sterile Insect technique (SIT) an effective, species-specific and environmentally friendly method of controlling harmful and damaging insects. Oxitec first products are for the control of Aedes aegypti the mosquito species primarily responsible for transmitting dengue fever and Mediterranean fruit fly, one of the world's most damaging agricultural pests. Further information available at www.oxitec.com
About Frost & Sullivan
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SOURCE Frost & Sullivan