Grace Breeding’s NFT biofertilizer receives its first product registration approval in Brazil allowing the initiation of marketing and commercial activities in this region
– Grace Breeding’s first territorial approval of NFT Bio fertilizers has been granted in the region of Brazil, a leader in agricultural trade as the largest global exporter of corn and leading exporter of soybeans –
– NFT can be used with a range of crops and significantly reduces the use of nitrogen to enable low carbon emissions –
– NFT is a sustainable agricultural solution in line with environmental responsibility and reversal of climate change –
REHOVOT, Israel, May 24, 2023 (GLOBE NEWSWIRE) — Grace Breeding Ltd. (the “Company” or “Grace Breeding”) (TASE: GRAC), a forward-thinking AgClimateTech company developing sustainable bio-based products to improve crop yield and vigor, announced today that it received the first approval for its NFT Bio- fertilizer registration in Brazil, the largest user of bio-based fertilizers and a leading agricultural exporter.
“We are delighted to have our first NFT product registration approved in Brazil, a key strategic market for agricultural commodities such as corn and soybeans and recently ranked number one in the world for biofertilizer use1,” said Assaf Dotan, CEO of Grace Breeding. “The search for more sustainable technologies for agribusiness has been the focus of studies around the world, and our NFT technology offers a sustainable solution – both to reduce nitrogen use and mitigate its harmful effects of urea – as well as increasing carbon sequestration and improving maize growth. We look forward to the continued development of this program and enabling the market in this territory to commercialize this product by the end of the year.”
Grace Breeding’s NFT will allow farmers to significantly reduce their reliance on synthetic fertilizers, or urea, a nitrogen-based fertilizer that is harmful to the environment, as well as provide them with an alternative that is more economically viable and increases carbon sequestration. The use of NFT leads to a reduced use of urea and consequently lower carbon emissions, which are crucial for slowing down damage to the environment.
Grace Breeding’s NFT has been conducting field trials in this region on maize plants with partners at the University of Londrina (UEL) and Gaia AgroSolutions, both based in Brazil. Grace Breeding announced preliminary topline results from this field trial in January and expects full results to be available this quarter.
About the collaboration between Grace Breeding and UEL
In November 2022, Grace Breeding announced a strategic research and development collaboration with the prestigious University of Londrina (UEL), based in Paraná State, Brazil. UEL is a top 10 university in Brazil. The university is investigating Grace Breeding’s NFT related to improving the absorption of nutrients from the soil as well as increasing carbon sequestration and the efficiency of nitrogenous feeding. These properties will allow farmers to significantly reduce their dependence on synthetic fertilizers.
About Grace Breeding’s NFT
Grace Breeding’s NFT works in combination with a natural, non-pathogenic bacteria that enables crops to naturally increase the effectiveness of fertilizers and reduce the need for chemical fertilizers. As a result, the process reduces CO2 emissions and leads to a significantly lower environmental impact on soil and groundwater, while reducing the use of synthetic nitrogen by up to 50%. The global market for chemical nitrogen fertilizers reached a value of over USD 163.2 billion in 20212, but the use of these fertilizers continues to be under heavy scrutiny with increased regulation due to their environmental impact on soil and groundwater. As a result, sustainable alternatives that are also competitive for crop health are in demand by farmers and distributors. Grace Breeding’s NFT can be used on a wide range of field crops, including corn, wheat, soybeans and rice, and can be applied less frequently – once, at seeding versus three to four times during the season, which is otherwise the norm.
About Grace Breeding
Grace Breeding is an AgClimateTech company focused on developing environmentally sustainable products that are biologically based and provide effective and natural solutions for farmers and distributors. Grace Breeding aims to disrupt crop agriculture – by providing solutions for biofertilizing crops and alleviating climate stress and offering innovative products and solutions that reduce the environmental damage caused by synthetic fertilizers. Grace Breeding has an R&D center in Israel and in parallel the company develops its products with several leading research and development centers around the world. For more information, visit https://www.gracebreeding.com.
References:
1Source: Jovem-pan-news, McKinsey & Company (4.2023)
2Fertilizer Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027
Forward-looking statements
This press release contains forward-looking statements about our business operations and future plans. All statements other than statements of historical fact are statements that can be considered as forward-looking statements. All forward-looking statements in this press release have been made based on management’s current expectations, which involve risk, uncertainty and other factors that may cause results to deviate significantly from those expressed in forward-looking statements. These statements involve a number of risks and uncertainties, including, but not limited to, the preliminary nature of the Company’s business operations, the dependence on the success of future filed litigation, the regulatory environment, the Company’s financial condition and other risk factors. For a more detailed discussion of these and other risks that could cause actual results to differ from the forward-looking statements in this press release, please see our most recent annual report. The company undertakes no obligation to update any forward-looking statements herein.
Contacts
Grace Breeding Ltd.
Investors
Jeremy Feffer
LifeSci Advisors LLC
[email protected]
Media
Inbar Kneller
ReBlonde PR
[email protected]
