Inocucor Announces Plans to Open U.S. Headquarters and Production Facility in Denver

Inocucor uses a patented fermentation process to combine multi-strains of bacteria and yeasts into powerful soil and plant optimizers that are safe for people and the environment. These products naturally improve crop yields, shorten growing periods and create healthier, more resilient soils for farmers and greenhouse growers.

Concurrent with the Denver headquarters and production facility opening this fall, Inocucor will be doubling its existing 10,000-square-foot lab and offices in Montreal. The Montreal facility will become its Technical Center of Excellence for technology innovation, new-product development, fermentation process development and pilot production. This entity will continue to be called Inocucor Technologies Inc. and will remain its Canadian headquarters.

Inocucor currently employs approximately 30 people in Montreal and the U.S. The company plans to add another 50 high-level scientific and managerial staff in both in its Montreal and Denver operations over the next 18 months.

The company's move to Denver is supported by a performance-based Job Growth Incentive Tax Credit of $1,322,918 approved by Colorado's Economic Development Commission.

"Inocucor is a leader in the emerging sector of specialty ag biologicals," said Inocucor's President and CEO Donald R. Marvin, a Denver resident. "We are one of a handful of companies that have successfully commercialized microbial crop inputs based on a microbial consortia technology that improve the plant microbiome, which translates into healthier soils and improved water quality. The result for the grower is improved crop yields and reduced need for pesticides and chemical fertilizers."

Marvin said Inocucor will grow organically with its patented proprietary microbial consortia technology while also pursuing strategic acquisitions and product development partnerships in North America, Latin America and Western Europe.

Inocucor's flagship product, Garden Solution®, soon to be rebranded in the U.S. as Synergro™, is a live-cell formulation for high-value produce, such as strawberries, tomatoes, lettuce and broccoli. Synergro Free™ is a cell-free bio-fertilizer additive to existing plant nutrients for commodity row crops, such as soybean, corn and wheat. Inocucor's new-product development pipeline includes bio-control formulations that combat economically devastating diseases in crops such as strawberries, tomatoes and potatoes.

In the U.S., Garden Solution (Synergro) is OMRI Listed® nationally and OIM-registered in California for organic production. It is registered for use in 22 U.S. states. Synergro Free is registered in 17 U.S. states. Both products are among the first microbial products of their kind to be registered in Canada. Synergro is also a Pro-Cert Approved Input for use in organic growing in Canada.

Inocucor recently completed the $38.8 million CAD ($29 million USD) first close of its Series B financing round, with lead investor TPG Alternative and Renewable Technologies (San Francisco) and participation from Cycle Capital Management (Quebec), Desjardins Innovatech (Quebec) and Closed Loop Capital (U.S.).

About Inocucor
Inocucor is an agri-tech company that develops powerful natural biological products for agriculture targeting the phyto-microbiome—the seeds, plants, root systems and the soil surrounding them. Inocucor's first-generation product, Garden Solution®, soon to be re-branded as Synergro™, employs live microbes to actively improve the health of the entire phyto-microbiome. Its second product, Synergro Free™, and future generations of Inocucor products are powerful biological formulations for bio-stimulation, bio-fertility and bio-control targeting mainstream production agriculture. For more information, visit www.inocucor.com.

Contact:
Michele Wells, Wells Communications (303) 417-0696
[email protected]

SOURCE Inocucor Corporation

Related Links

http://www.inocucor.com