DAVIS, Calif., March 19, 2020 /PRNewswire/ -- Arcadia Biosciences, Inc. (Nasdaq: RKDA), a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients, today announced a new strategic partnership with Grow West, one of the largest independent marketers of agricultural products in California, and Buttonwillow Warehouse Company (BWC), a family owned and operated fertilizer and crop protection products company in central and Southern California, to introduce Arcadia's USDA-compliant GoodHemp seed line to California growers.
Under the terms of the agreement, Grow West and BWC will bring their collective grower relationships to Arcadia's GoodHemp Innovation Partners platform – a select group of growers with exclusive access to Arcadia's team of breeders, geneticists and computation biologists, as well as the company's seed catalog of cutting-edge new hemp varieties.
"With more than 17,000 acres grown in the state last year, and even more planned for 2020, California is a key region for U.S. hemp production," said Sarah Reiter, Arcadia's chief commercial officer. "Through this strategic partnership with Grow West and Buttonwillow Warehouse Company, Arcadia gains access to every production acre in the state, including top California cultivators who rely on the crop and pest control advisors of these two companies to make important decisions throughout the growing season. Together, we'll be working closely to ensure those growers understand and leverage the unique benefits of GoodHemp's seed catalog."
Arcadia first introduced GoodHemp, its commercial brand for delivering genetically superior hemp seeds, transplants, flower and extracts, at the American Seed Trade Association CSS & Seed Expo in Chicago. Since its December launch, GoodHemp has expanded from five seed varieties to ten, primarily focused on compliant cannabidiol (CBD) production, one of the biggest challenges facing U.S. growers in light of the USDA's guidelines mandating that states test and dispose of "hot" crops that exceed 0.3 percent tetrahydrocannabinol (THC). In future years, the GoodHemp portfolio is expected to include seed varieties rich in additional cannabinoid extracts, plus grain, protein and fiber hemp types.
In addition to these valuable grower relationships, Grow West and BWC will extend their collective experience cultivating other crops in California's unique climate to advise Arcadia's hemp growers on fertility and production practices.
"We've served California growers with uncompromised quality and personal attention to support productivity and profitability for decades," said Lucas Schmidt, chief operations officer at Grow West. "We feel confident that our grower relationships combined with our agricultural expertise will strengthen and enrich Arcadia's already thriving GoodHemp Innovation Partners platform."
Added Buttonwillow chief executive officer Clay Houchin, "Hemp is a unique and new exciting territory for both our company and this country, and we believe hemp will be in the crop mix for years to come. Partnering with Arcadia gives us the ability to learn alongside our growers while California is still in the early stages of this industry. We're proud to lend our expertise in crop protection and production to support California's hemp growers through this unique partnership with Arcadia."
About Arcadia Biosciences, Inc.
Arcadia Biosciences (Nasdaq: RKDA) is a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients. The company's GoodWheat™ branded ingredients deliver health benefits to consumers and enable consumer packaged goods companies to differentiate their brands in the marketplace. Arcadia's agricultural traits are being developed to enable farmers around the world to be more productive and minimize the impact of agriculture on the environment. The company's new GoodHemp seed catalog delivers genetically superior hemp seeds, clones, transplants, flower and extracts, applying the company's proprietary crop innovation technology, ArcaTech, to an emerging crop. For more information, visit www.arcadiabio.com.
About Grow West
Grow West® is a leading agri-business company and retailer, servicing both conventional and organic production agriculture in Northern California. Started in 1951, we have been serving our local communities for almost 70 years. Our commitment to our customers can be seen throughout the vertically integrated service areas and offerings we bring. With 18 retail, farm supply, wholesale manufacturing and trucking locations, we service the agricultural community through PCA consulting, agronomic expertise in crop and pest control management, as well as products and services to support more than 34 counties. For more information, visit www.growwest.com.
About Buttonwillow Warehouse Company
The Buttonwillow Warehouse Company (BWC) is a family owned and operated business with over 50 years of experience serving California farmers. Originally started as a grain elevator and warehouse, BWC diversified into distributing fertilizers and crop protection products in 1970. Over the last 50 years, BWC has grown to over 11 retail fertilizer and crop protection locations covering over 9 different counties in California. The company is committed to providing the best products and services to our customers, as well as, a healthy and safe work environment for our employees. Today, the company remains family owned and operated and is dedicated to the success and future of California agriculture.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: Arcadia's and its partners' and affiliates' ability to develop and sell commercial products incorporating their traits, and complete the regulatory review process for such products; Arcadia's and its partners' ability to fulfill current and follow-on purchase commitments; Arcadia's compliance with laws and regulations that impact Arcadia's business, and changes to such laws and regulations; Arcadia's ability to capture revenue in 2020 and beyond; the growth of the global hemp market; Arcadia's future capital requirements and ability to satisfy its capital needs; and the other risks set forth in Arcadia's filings with the Securities and Exchange Commission from time to time, including the risks set forth in Arcadia's Annual Report on Form 10-K for the year ended December 31, 2018 and other filings. These forward-looking statements speak only as of the date hereof, and Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements.
SOURCE Arcadia Biosciences, Inc.