New Technology to Boost Yields in North and South America
TAMPA, FL and EMERYVILLE, CA / ACCESSWIRE / March 9, 2021 / The Mosaic Company (NYSE:MOS) and Sound Agriculture have formed a strategic partnership to bring a revolutionary nutrient efficiency product to market to boost yields across major row crops and improve soil health. The companies will collaborate on the development and distribution of a proprietary mix of Sound Agriculture's bio-inspired chemistry and key micronutrients. Early data indicates the combination has potential to be a best-in-class product within the broader nutrient efficiency space.
Fertilizer is essential for plant health and yield, providing critical nutrients to crops throughout the season. But not all applied fertilizer is used by the plant, and the excess can lead to economic and environmental waste. Sound Agriculture has developed technology that activates the soil microbiome to give plants access to important nutrients and allow growers to optimize fertilizer inputs.
"Mosaic is committed to providing advances in soil health for our customers and products that have the potential to minimize fertilizer loss to the environment," said Kim Nicholson, Vice President-Ag Technology and Innovation at The Mosaic Company. "Sound's innovative technology will complement our product portfolio, providing growers with an in-season solution to enhance fertilizer efficiency and optimize production."
The co-developed product is expected to launch in the United States by 2023, before rolling out to additional markets throughout the Americas, with focus on Brazil, Argentina and Canada. Sound Agriculture will focus on manufacturing of the active ingredient and product formulation, while Mosaic will oversee field development, regulatory, sales and marketing efforts. Initially, the product will be available for use on corn and soybeans, with the potential to expand to additional row crops such as wheat, cotton, rice, sugarcane, coffee, and others.
The partnership will complement Sound Agriculture's SOURCE™ product line of foliar products for corn and soybeans by adding core micronutrients for growers looking for a more complete in-season fertility solution. Because the product leverages bio-inspired chemistry, it offers more stability and consistency than many other nutrient efficiency products. With an in-season application timing, this product collaboration enhances Mosaic's existing soil health portfolio, providing another tool for a comprehensive, well-balanced approach to plant nutrition.
"Partnering with Mosaic will help us quickly scale our technology by leveraging their significant technical expertise and market access," said Adam Litle, CEO of Sound Agriculture. "We're excited to find a partner who shares our passion for positively impacting agriculture practices, improving the bottom line for growers and increasing soil health."
About Sound Agriculture
Sound Agriculture unlocks the natural power of plants to meet the demands for more diverse and nutritious food. Innovative, on-demand crop solutions allow agriculture to adapt faster to climate change and evolving consumer preferences, creating healthier food that is better for the planet. Products are designed to improve on-farm efficiency and create healthier, tastier, more sustainable food. Learn more at www.sound.ag and follow @sound_ag on Twitter.
About The Mosaic Company
The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single-source provider of phosphate and potash fertilizers and feed ingredients for the global agriculture industry. More information on the company is available at www.mosaicco.com.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the anticipated benefits or strategic plans and other statements about anticipated future financial, production and operating performance. Such statements are based upon the current beliefs and expectations of The Mosaic Company's management and are subject to significant risks and uncertainties. These risks and uncertainties include, but are not limited to: difficulties with realization of the benefits or strategic plans; actual costs of various items differing from management's current estimates, price and demand volatility for our products, other changes in market conditions, accidents and disruptions, including potential mine fires, floods, explosions, seismic events, sinkholes or releases of hazardous or volatile chemicals; changes in foreign currency and exchange rates; international trade risks and other risks associated with Mosaic's international operations, changes in government policy, changes in environmental and other governmental regulation, as well as other risks and uncertainties reported from time to time in The Mosaic Company's reports filed with the Securities and Exchange Commission. Actual results may differ from those set forth in the forward-looking statements.
The Mosaic Company
The Mosaic Company
SOURCE: The Mosaic Company