PHILADELPHIA, July, 13, 2016 /PRNewswire/ -- AgroFresh Solutions, Inc. ("AgroFresh" or the "Company") (NASDAQ: AGFS), a global leader in produce freshness solutions, has signed an exclusive global agreement with BotanoCap to distribute its proprietary natural solution to improve storage stability and extend the post-harvest lifespan of fruits, vegetables and flowers.
"This global distribution agreement with BotanoCap will allow AgroFresh to target a broader range of crops and expand the AgroFresh solutions portfolio with new technologies that bring tremendous value to growers, distributors, retailers and consumers," said Dr. Nance Dicciani, Chair of the Board of AgroFresh. "This agreement aligns with our strategic growth agenda to expand our offerings, enter new markets, and address additional crop categories through technology partnerships."
BotanoCap has successfully developed a powerful, proprietary technology platform for the slow release of volatile, essential oils. These new innovative products provide customers with a natural solution to improve storage stability and extend the post-harvest lifespan, effectively suppressing the spread of fungal pathogens and the resulting damages.
Dr. Dicciani added, "Our partnership with BotanoCap will enable AgroFresh to expand into new crops, including table grapes, and soft fruits, such as strawberries, blackberries and raspberries, that represent a significant addressable market. An independent third party estimated the market value of table grapes alone to be approximately $170 million. It will also allow us to develop new applications and products based on BotanoCap's novel micro-encapsulation technology and expand our product offerings within the flourishing organic food market. The advantages this technology brings to the entire value chain will enable our customers to achieve optimal quality management from naturally derived products."
The BotanoCap products will be marketed globally by AgroFresh. Sales are expected to begin in as soon as one to two years. Additional planned registrations will be sought to allow broad commercialization, with an initial focus on key markets in the USA, Latin America, and Europe. The Company will also explore opportunities in Australia, New Zealand and Asia.
For more information, visit AgroFresh.com or contact your local AgroFresh representative.
AgroFresh Solutions, Inc. (NASDAQ: AGFS/AGFSW) 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; and RipeLock™, the innovative post-harvest quality system for bananas. 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.
BotanoCap, an Israeli technology-based company, was founded by professors from Ben Gurion University in 2005. It develops green solutions intended to replace toxic chemical materials currently used by the agricultural, veterinary and household product industries. The company's novel technology creates controlled release products based on natural ingredients.
BotanoCap is helping the world go green, by achieving the same ultimate deliverable but safely and naturally. It is a worldwide unmet need. BotanoCap develops eco-friendly and cost effective product lines to address specific market needs. The Company's products address the global market of bio-fungicides, bio-insecticides, field crop protection, and post-harvest treatment.
BotanoCap is a member of: IBMA (the International Biocontrol Manufacturers Association). For more information, visit www.botanocap.com.
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.
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SOURCE AgroFresh Solutions, Inc.