The agreements establish AlgaEnergy as global distributor of Concentric's two flagship biological products and pave the way for development of a new class of microalgae-biological products
MADRID and OAK BLUFF, MB, Sept. 15, 2020 /PRNewswire/ -- AlgaEnergy N.A. Inc., the U.S. subsidiary of Spain-based AlgaEnergy S.A. and a global leader in microalgae biotechnology, and Concentric Ag Corporation, a leading developer of microbial and plant nutrient crop inputs, have signed a two-pronged partnership agreement.
The first agreement establishes AlgaEnergy as the exclusive global distributor of Concentric's microbial product, Synergro® (sold as Inocucor Garden Solution® in California) and its cell-free microbial metabolite product, Synergro M2 TM. The agreement excludes Concentric's core business in Canada and the United States for broadacre and row crops. Synergro and Synergro M2 will continue to be sold through Concentric's existing distribution channels.
The second agreement is a strategic partnership that enables AlgaEnergy to combine Concentric's patented microbial technologies with AlgaEnergy's proprietary microalgae technologies to create unique biological products, which AlgaEnergy will then distribute to growers in its global markets. Concentric will market these products in both Canada and the U.S. for broadacre and row crop growers.
"The business potential of these agreements is huge," AlgaEnergy's President of International Agribusiness D. Ry Wagner stated. "Immediate access to Concentric's current best-in-class microbial and cell-free microbial metabolite products expands AlgaEnergy's product portfolio with outstanding products that are complementary to our microalgae-derived products. At the same time, our ability to create unique, high-performance products that synergistically combine AlgaEnergy's microalgae technology with Concentric's microbial consortia technology promises to yield whole new classes of products for AlgaEnergy's grower-partners worldwide."
Wagner said AlgaEnergy's international group has established business units in major agricultural markets around the world and additional business units are in progress. As a result, AlgaEnergy now has a solid distribution system in place in key agricultural markets in Europe, the Americas, Africa and Asia-Pacific. Concentric's Synergro and Synergro M2 will be added to AlgaEnergy's product mix in these markets.
Jarrett Chambers, chief commercial officer of Concentric, said the partnership with AlgaEnergy will help expand the California specialty crop market for Synergro that Concentric has cultivated for the past four years. Grower data confirms incremental yields with Synergro due to more efficient nutrient use and reduced abiotic stress.
"Our two companies are also aligned in our business goals," said Chambers. "We want to accelerate adoption of sustainable technologies that can be easily integrated into a grower's nutrient management plan. Our joint R&D efforts will be directed at meeting the challenge of sustainability while maximizing the genetic potential of the crop."
Wagner said the innovation in today's agriculture is coming from nimble venture-backed companies such as AlgaEnergy and Concentric, adding: "We are actively seeking other partnerships with innovators in the months and years to come."
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About AlgaEnergy N.A.
AlgaEnergy N.A. Inc. is AlgaEnergy S.A.'s U.S. subsidiary. AlgaEnergy S.A. is a biotechnology company headquartered in Spain that uses advanced technology and production processes to produce high-quality microalgae-based products for the agriculture, aquaculture, nutrition and cosmetics industries. By harnessing multiple, diverse microalgae strains in one product, AlgaEnergy products can benefit a wide range of crops in diverse environments facing unique stresses. AlgaEnergy is building a strong international presence to deliver its microalgae-based solutions across the globe. For more information on AlgaEnergy International Agribusiness, visit www.algaenergy-intl.com and www.algaenergy.com and follow AlgaEnergy Intl on Facebook, Twitter, LinkedIn, YouTube and Instagram.
Concentric Ag is an agtech company that develops biologicals, plant nutrients and analytical tools for specialty and broadacre crops. The synergistic effect of biologicals and plant nutrition will deliver the next wave of plant and soil health improvements, further driving the genetic potential of the crop. Concentric's product portfolio targets the entire microbiome: the seed, roots, plants and rhizosphere (soil surrounding the roots). Products are distributed through national distributors and retailers across Canada and the U.S. Concentric's head office, research and production facility are located in Oak Bluff, Manitoba, Canada. For more information, visit www.ConcentricAg.com and follow Concentric Ag on Facebook, Twitter, LinkedIn, YouTube and Instagram.
Michele Wells, Wells Communications
Telephone +1-303-417-0696 or e-mail: [email protected]
Carmela Pérez Calleja, Global Marketing Manager
Telephone: +34-681-285-872 or e-mail: [email protected]
Carolin Chambers, Concentric Ag – Executive Director, Strategic Marketing
Telephone: 204-287-2023 or email [email protected]
SOURCE AlgaEnergy International