Nutrien Ag Solutions Completes Acquisition of New Biocontrol Technology
Published: Jun 17, 2024
This new biocontrol technology is expected to introduce chlorin-based photosensitizer to the global market as a biocontrol solution for integrated pest management (IPM)
LOVELAND, CO (June 17, 2024) – Nutrien Ag Solutions announces the acquisition of Suncor Energy’s AgroScience assets, which consists of several patented and patent pending technologies in the area of biocontrol.
The acquisition is aligned with Nutrien Ag Solutions’ strategy to invest in novel, patented, and effective biocontrol technologies through its Loveland Products business. The proprietary technology for use in the global agriculture industry aims to offer a new mode of action, plus advantages in resistance management. Categorized as a biocontrol tool, research and field-trial data show the technology as having market-competing potential in delivering efficacy, stability, and economic value comparable to traditional synthetic crop protection inputs.
“We’re excited to further develop this new technology which is expected to help accelerate Loveland Product’s efforts in delivering a broader range of solutions that aim to help maximize yields,” says Casey McDaniel, Vice President of Loveland Products. “As the biocontrol market grows, we believe farmers will increasingly demand bio-based solutions that work within existing management practices to achieve bottom-line benefits in yield and efficiency and support efforts to improve sustainability.”
“We believe that biologicals are important next-step tools for elevating the potential in every field. In the coming months and years, we aim to bring more of these types of offerings to market under the Loveland brand or partner brands for farmers of all scales and in all geographies.”
The new chlorin-based photosensitizer formulations are expected to launch in certain global markets by 2025. Product submissions to the EPA in the U.S. are anticipated by 2026. Nutrien Ag Solutions plans to market these products as part of the Loveland Products portfolio.
Forward-Looking Statements
[Certain statements in this media release constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") under applicable securities laws including our expectations for patentability, product offerings, development, commercialization and submissions (including availability and timing thereof), and the performance, benefits and demand for biocontrol technologies. Forward looking statements in this news release are based on certain key expectations and assumptions made by Nutrien, many of which are outside of our control. Although Nutrien believes that the expectations and assumptions on which such forward looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Nutrien can give no assurance that they will prove to be correct. Forward-looking statements are subject to various risks and uncertainties which could cause actual results to differ materially from the anticipated results or expectations expressed in this news release. For information on the assumptions made, and the risks and uncertainties that could cause actual results to differ from the anticipated results, refer to our reports filed with the Canadian securities regulatory authorities and the United States Securities and Exchange Commission. The forward-looking statements in this media release are made as of the date hereof and Nutrien disclaims any intention or obligation to update or revise any forward-looking statements in this news release, except as may be required under applicable laws.
About Loveland Products, Inc.
Loveland Products is the proprietary products company for Nutrien Ag Solutions®, offering a complete line of high-performance input products. Our portfolio of seed treatment, plant nutrition, fertilizer, adjuvant, and crop protection products are highly respected in the industry. We are constantly striving to bring new, unique chemistries to the marketplace to provide innovative solutions to problems across the agricultural and professional non-crop industries. For more information visit lovelandproducts.com.
About Nutrien Ag Solutions
Nutrien Ag Solutions® is the retail division of Nutrien Ltd., a leading provider of crop inputs and services, helping to safely and sustainably feed a growing world. They provide full-acre solutions through a global Retail network of trusted crop consultants at more than 2,000 locations. Nutrien Ag Solutions® strives to help growers achieve the highest yields with a wide selection of products, including their proprietary brands: Loveland Products®, Inc., Proven® Seed, and Dyna-Gro® Seed. For more information visit nutrienagsolutions.com.
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