MustGrow Biologics (CSE: MGRO) is pushing forward with its focus on natural biopesticides, this morning announcing that it has obtained an exclusive patent license from the University of Idaho. The patent surrounds a natural biopesticide mustard-based treatment for stored produce and other foods, with a focus on the sprout suppression of potatoes.
The patent that the company has been granted exclusive rights too, titled “Mustard Meal to Inhibit Sprouting,” makes method and claim to utilize an active ingredient in the mustard plant, allyl isothiocyanate, to control vegetable and potato sprouting. Most notably, this does so without the use of harmful synthetic chemicals.
Following the licensing of the patent, the company is now working to advance a solution for the food storage industry while remaining focused on the mustard plant. The company is said to have identified partners globally for the further application of the patent.
The timing of acquiring the license is key, given that on October 8, 2020, the European Union banned the use of chlorpropham, or CIPC. CIPC is the major sprouting suppressant used globally, with it being widely applied to stored potatoes. The market for suppressing such sprouting is estimated to be US$64 million in the EU alone, and over US$100 million globally.
With the ban now in effect, hundreds of millions of dollars are expected to be spent on refrigerating produce until an effective alternative can be found – such as the tech just licensed by MustGrow.
“Alternatives to potato sprout inhibition are in critical need as the U.S. moves towards eliminating CIPC. Mustard-derived biopesticides rely on a natural sprout inhibitor that meets the needs of the potato industry without the negative human health consequences of current synthetic sprout inhibitors.”Dr. Matthew J. Morra, Scientific Advisor to MustGrow Biologics
Additionally, the company also announced this morning that Dr. Matthew J. Morra, one of the inventors named on the patent, has been appointed to the role of Scientific Advisor with MustGrow. Dr Morra is currently regarded as a leading world expert on value-added products derived from oilseeds, and currently serves as professor emeritus of soil biochemistry at the University of Idaho.
MustGrow Biologics last traded at $0.49 on the CSE.
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