For Immediate Release
|Robert Blum, Joe Dorame, Joe Diaz
Lytham Partners, LLC
Chief Financial Officer
S&W Seed Company
HANFORD, California – January 31, 2017
S&W Seed Company (Nasdaq: SANW) today announced the advancement of 45 new varieties for the dormant and non-dormant alfalfa seed market to its proprietary seed portfolio, including varieties developed for multiple pest resistance, forage quality and yield, which S&W has not previously marketed in the past. The development of these new varieties for the dormant alfalfa seed market is a result of S&W’s internal research and development group, which combines the expertise of three of the industry’s leading alfalfa product development teams: S&W, Pioneer and Seed Genetics International (“SGI”).
S&W’s newly developed dormant varieties include those with the following traits:
- High resistance to Aphanomyces root rot race 1 & 2, highest in the industry giving life of stand protection to this pest compared to relying on seedling fungicides;
- High resistance to alfalfa stem nematode;
- Tolerance to lodging; and
- Highest disease resistance index possible in many products (DRI=35).
S&W’s newly developed non-dormant varieties include those with the following traits:
- Improved disease resistance for most pests including Anthracnose, Phytopthora root rot, Aphanomyces, Verticillium wilt, stem nematode, aphids (pea, spot, blue, black), and;
- The industry’s highest salt tolerance.
Mark Grewal, chief executive officer of S&W Seed Company commented, “In order to maintain leadership in the alfalfa seed industry for years to come, we need to be at the leading-edge of new product development. Our R&D group brings together the expertise of three of the industry’s most well-known trait developers, leveraging the strengths and know-how of each team member, to develop new varieties that will benefit farmers around the world. We anticipate that the advancement of these new varieties, which include 3 varieties exclusive to the Pioneer distribution channel, and 42 varieties that will be launched into our new distributional channels both domestically and internationally, will help to maintain and expand S&W’s position as the go-to provider for alfalfa seed.”
Mr. Grewal continued, “S&W has made significant progress in the consolidation of its research and development activities in our Nampa facility which continues to deliver products with high performance for the grower in all product lines. In addition to being a reliable supplier of elite genetics, we are actively working with new technologies and germplasms for future applications, such as our agreement with Calyxt for custom gene-editing of plant species to create novel traits and increased value. I appreciate the tremendous efforts of our development team and look forward to continued innovation in the years to come.”
About S&W Seed Company
Founded in 1980, S&W Seed Company is a global agricultural Company, headquartered in the San Joaquin Valley of California. The Company’s vision is to be the world’s preferred proprietary seed Company which supplies a range of forage and specialty crop products that supports the growing global demand for animal proteins and healthier consumer diets. The Company is a global leader in alfalfa seed, with significant research and development, production and distribution capabilities. S&W’s capabilities span the world’s alfalfa seed production regions, with operations in the San Joaquin and Imperial Valleys of California, five other U.S. states, Australia, and three provinces in Canada, and S&W sells its seed products in more than 30 countries around the globe. Additionally, the Company is utilizing its research and breeding expertise to develop and produce stevia, the all-natural, zero calorie sweetener for the food and beverage industry. For more information, please visit www.swseedco.com.
Safe Harbor Statement
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” Forward-looking statements in this release include, but are not limited to, statements concerning market share and the application and marketability of proprietary technologies. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors and other risks identified in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended June 30, 2016, and in other filings subsequently made by the Company with the Securities and Exchange Commission. The Company does not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.