SACRAMENTO, California – August 28, 2018
S&W Seed Company (Nasdaq: SANW) today announced the integration of proprietary sorghum germplasm in the U.S. and Brazil that it previously acquired from NexSteppe, Inc. The NexSteppe germplasm, which S&W acquired in April 2018, is a scalable, reliable and sustainable feedstock solution for the forage, grain, biofuels, biopower and bio-based product industries. Integration of the NexSteppe germplasm is expected to bolster S&W’s sorghum breeding effort, which already includes best-in-class hybrid forage and hybrid grain varieties.
Mark Wong, President and Chief Executive Officer of S&W Seed Company, commented, “Our goal over the coming years is to significantly expand our sorghum operations in the U.S. The launch of the high quality NexSteppe sorghum germplasm we acquired earlier this year is another key component to that strategy. NexSteppe already has a strong following with many of the leading bio-based companies around the world which we will look to expand upon and further develop within new markets, including certain forage and grain markets.”
All of NexSteppe’s germplasm is adapted to different environments and seasons, providing a wide range of maturities to meet varying customer harvest-window profiles. In particular, NexSteppe’s Palo Alto biomass sorghum hybrids provide a high-yielding, low-cost biomass feedstock for biopower and cellulosic biofuels. Designed to have low moisture levels at maturity, Palo Alto biomass sorghum hybrids significantly lessen the amount of water harvested, thereby reducing the harvest and transport costs that can be 50 percent or more of total delivered feedstock cost. Lower moisture levels also provide a higher effective energy density for combustion.
About S&W Seed Company
Founded in 1980, S&W Seed Company is a global agricultural company headquartered in Sacramento, California. S&W’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. S&W 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 Western United States, including the San Joaquin and Imperial Valleys of California, Australia, and Canada, and S&W sells its seed products in more than 30 countries around the globe. S&W also provides hybrid sorghum and sunflower and 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 improvements in our sorghum breeding efforts, expansion of our sorghum operations in the U.S., our efforts to expand upon NexSteppe’s existing following by leading bio-based companies and further develop this following within new markets, the benefits of NexSteppe’s Palo Alto biomass sorghum hybrids and the advancement of our strategic plans and commercialization strategies. 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 risk that our strategic initiatives may not achieve the expected results, and risks associated with our ability to successfully optimize and commercialize our business. These and other risks are identified in our filings with the Securities and Exchange Commission, including without limitation our Annual Report on Form 10-K for the fiscal year ended June 30, 2017, and in our other filings subsequently made with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. We do 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.