A new product targeting crop stress protection takes next step.
AgroFresh Inc., a wholly-owned subsidiary of Rohm and Haas and Syngenta AG have achieved a key milestone in the development and distribution of Invinsa technology, a unique product for crop stress protection in field crops.
The two companies have now signed a definitive agreement formalizing the letter of intent signed earlier this year.
Regulatory approval for the current formulation of Invinsa is expected this year in the U.S. and has already been approved in both Argentina and Chile. Once approved the current formulation will be used in research and commercial trials. The goal is to commercialize the technology within two years.
Invinsa, a sprayable formulation of 1-methylcyclopropene (1-MCP), will be the first-ever product introduced into field crop markets to specifically protect crop yield during extended periods of high temperature, mild-to-moderate drought and other crop stresses. The increasing occurrence of drought stress in many regions of the world, coupled with the importance of maximizing crop yields to meet the growing demand for food, animal feed and fuel, creates a significant potential market for Invinsa, provisionally estimated to be in excess of $500 million.
AgroFresh and Syngenta will focus on major field crops including corn, soybean, cotton, wheat, sunflower, rice and canola. Invinsa has the potential to create an entirely new market segment, generating significant value for customers and shareholders.