MustGrow Biologics (CSE: MGRO) has expanded its relationship with Japanese conglomerate Sumitomo Corporation. The firm this morning revealed that they are expanding into new jurisdictions and crop categories with the conglomerate, as the duo works to enhance commercialization.
The development follows field trials that were conducted in the US by Sumitomo, which confirmed the efficacy of MustGrow’s proprietary technology. The trials showed that the formulation is effective at treating nematodes in soybeans, cucurbits, and cotton, with efficacy reportedly comparable to leading synthetic chemicals.
With the effectiveness of the formulation now confirmed independently by Sumitomo, the conglomerate will now drive field trial development and conduct the regulatory work required for commercialization across several jurisdictions in the Americas. This includes the development of the product as a tool for fighting Panama Disease, formally known as Fusarium wilt TR4, as well as other applications in Colombia. Development work is to also begin in Mexico, Peru, and Chile across multiple crops and applications.
“We are seeing MustGrow’s technology perform consistently in field and are very encouraged by the initial testing and performance. Developing sustainable crop protection products with MustGrow in the Americas offers a tremendous opportunity and responsibility to help growers tackle some of the key issues facing them and the world today. This is an encouraging step and we look forward to expanding our future collaboration,” commented Marcos Mares, Head of Business Development for Sumitomo.
MustGrow Biologics last traded at $3.63 on the CSE.
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