PHILADELPHIA, July 27, 2016 /PRNewswire/ -- AgroFresh Solutions, Inc. (NASDAQ: AGFS), a global leader in produce freshness solutions, has introduced its new LandSpring™ product, a 1-Methylcyclopropene (1-MCP) technology for use on transplanted vegetable seedlings. LandSpring, currently registered for use on tomato and pepper crops, reduces transplant shock resulting in lower seedling mortality and faster crop establishment, which leads to a healthier crop and improved yields.
Transplant shock is a widely recognized problem for vegetable growers and is caused by planting sensitive seedlings into the field environment where they often encounter stress conditions from heat, wind, cold and high solar radiation. Stressed seedlings produce ethylene, which causes a reduction in seedling survival and slows crop establishment. These effects ultimately limit plant performance and negatively impact marketable yield. By blocking ethylene recognition, LandSpring leads to faster crop establishment and healthier plants that show better tolerance to stress and disease throughout the growing season.
"LandSpring pre-transplanting technology delivers significant yield benefits to tomato and pepper growers, allowing them to achieve a superior return from their crop investment," said Dr. Nance Dicciani, Chair of the Board of AgroFresh. "With a 15 percent yield improvement in our tomato grower trials, this is a step change in functionality and a significant breakthrough in yield-enhancing technology."
Dr. Dicciani continued, "The expansion of our 1-MCP portfolio with the LandSpring launch is an important step for AgroFresh as it broadens our technology footprint into new crop categories and new markets. It is further proof of our industry-leading strategy and provides multiple avenues for growth for our existing pipeline. We expect a modest level of sales from LandSpring during the 2016 launch phase, but anticipate that LandSpring will grow in potential as we expand distribution globally."
According to the Agricultural Marketing Resource Center, approximately 14.6 million tons of processing tomatoes were harvested in the United States in 2014, with a collective value of more than $1.32 billion. The U.S. fresh market tomato annual harvest is approximately 27.3 million pounds with a value of $1.14 billion. Additionally, approximately 2 million pounds of bell and chili peppers were grown in the U.S. in 2014, with the total crop valued above $800 million.
LandSpring trials were conducted with roughly a dozen major U.S. growers in the Southeastern USA, including several in Florida, the largest fresh tomato market in the country. In addition, several trials are in progress in California, which, together with Florida, accounts for two-thirds of the U.S. tomato acreage.
LandSpring is applied by seedling nurseries using an automated overhead watering system that moves back and forth across the planthouse to irrigate the crop and apply crop protection such as LandSpring.
LandSpring is currently being shipped for application in the U.S. beginning in August of 2016. While AgroFresh's current registration for LandSpring is only for use on tomatoes and peppers, the technology has potential benefits for all transplanted vegetables. Additional U.S. registrations on melons, cucumbers, cabbage, broccoli, and cauliflower are expected over the next few years.
For more information, visit www.AgroFresh.com or contact your local AgroFresh representative.
AgroFresh Solutions, Inc. (NASDAQ: AGFS) is a global horticultural produce industry leader, providing a portfolio of innovative products and specialty services to maintain the freshness, quality and value of fresh produce and flowers. Its core products include SmartFresh™, the proven post-harvest freshness protection technology for produce; Harvista™, the advanced pre-harvest technology for apples and pears; RipeLock™, the innovative post-harvest quality system for bananas, and LandSpring™, an innovative pre-planting transplant shock reduction application for tomatoes and peppers. AgroFresh currently operates commercially in more than 40 countries and employs more than 170 people worldwide. For more information, visit www.AgroFresh.com.
™Trademark of AgroFresh Inc. ©2016 AgroFresh Solutions, Inc. All rights reserved.
In addition to historical information, this release may contain "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects or anticipates will or may occur in the future are forward-looking statements and are identified with, but not limited to, words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions (or the negative versions of such words or expressions). Forward-looking statements include, without limitation, information concerning the Company's possible or assumed future results of operations, including all statements regarding anticipated future growth, adoption of the Company's products, business strategies, competitive position, industry environment, potential growth opportunities and the effects of regulation. These statements are based on management's current expectations and beliefs, as well as a number of assumptions concerning future events. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's management's control that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks include, without limitation, the risk of increased competition; the ability of the business to grow and manage growth profitably; changes in applicable laws or regulations, and the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors. Additional risks and uncertainties are identified and discussed in the Company's filings with the SEC, which are available at the SEC's website at www.sec.gov.
SOURCE AgroFresh Solutions, Inc.